NVFH 2020 Integrated Annual Report

NFB Private Wealth Management -
the power of ONE
NFB Private Wealth Management has a proud history
spanning over 35 years. During that time NFB has grown
significantly with regional offices in Johannesburg, East
London, Port Elizabeth and a satellite office in Cape Town.
Up until 2020 they have operated and been licensed as
separate legal companies.
Given NVest Financial Holdings as the common parent
company, the same trading name of NFB Private Wealth
Management and the same business modus operandi across all
of the separate NFB Advisory businesses, the strategic decision
was taken in late 2018 to amalgamate the NFB businesses into
one company and one Financial Services Provider (FSP).
would look to use this opportunity to strengthen our advisory
team with further appointments going forward. There are no
planned changes to the advisory teams supporting clients,
and we look forward to continuing to provide the high level
of service to which clients have become accustomed over
the last 35 years.”
The newly amalgamated company is officially registered
as NFB Private Wealth Management Pty Limited, trading as
NFB Private Wealth Management and the amalgamation
became legally effective as of 1 June 2020.
In April 2019 we went through the first stage of the
amalgamation which involved the internal alignment of
governance and operational aspects across all the regions
including alignment of the board of directors of the NFB
Private Wealth Management companies. In 2020 we then
progressed to phase two of the amalgamation, being the
legal amalgamation of the separate companies.
According to Andrew Duvenage, Managing Director of NFB
Private Wealth Management: “This amalgamation has several
significant advantages over the old operating structure: the
main one being the streamlining of current internal processes
to be more responsive to client needs. It will also enable us
to hold product providers to account from one central point
so that we can be sure we’re providing the best possible
investment and risk products, as well as pricing, for our
clients. We also believe that the new structure positions the
business well to expand through future acquisitions, and we
“We also believe
that the new
structure positions
the business
well to expand
through future
acquisitions...”
NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 35