Blue Chip Issue 78 - Jan 2021

MEET MOMENTUM’S
NEXT GENERATION LEADERS
FAREEYA ADAM, HEAD OF
RETAIL PRODUCT SOLUTIONS
Fareeya, you have been with Momentum since 1999. Please tell
us about your journey with the company.
I joined Momentum straight out of university and have been here
ever since. I spent a few years in the actuarial valuations team
where I did lots of technical work, but most of my experience has
been in product development and product management. Over
the years, I progressed from being a specialist to managing the
discretionary and retirement solutions team to my current role as
head of retail investment product solutions.
From the outset what I loved most about Momentum was the
culture and the feeling that your colleagues are more than just
people you work with. Rather, they become friends that you trust
and share your journey with.
The underlying resilience and attitude of always doing the right
thing have resonated with me.
Please share with us your academic history.
I did both my undergraduate degree and my honours in actuarial
science at the University of Pretoria. In 2005, I completed all the
exams necessary to become a Fellow of both the Institute of
Actuaries and the Actuarial Society of South Africa.
What does your job as head of retail product solutions entail?
My role, and that of my team, is to help put together solutions for
the clients’ investment needs. This includes discretionary savings
and saving for retirement. At retirement, there are different
income products, both linked and guaranteed. There are also
structured and guaranteed products.
We need to consider solutions from many different angles,
including investment wrappers with the various tax implications,
types of underlying investments, regulation and rules. We also
need to think about how the adviser and client experience a
solution, how we explain and illustrate technical concepts in an
easy-to-understand way, to ensure that advisers and clients can
make appropriate decisions for their circumstances. Lastly, we
balance the needs of business and clients by ensuring that the
fees charged are fair and well disclosed.
How is it possible for a client to achieve high-risk returns in the
current global economy?
Some of our investment professionals say that “time in the market
is more important than timing the market”. I think that this is very
relevant. Also, clients must discuss their circumstances and risk
tolerance with a financial adviser. There are opportunities in the
market, but the best way to find the balance between risk and
reward is to partner with experts and to be able to follow through
with the plan.
How can clients maintain a degree of certainty despite the state
of uncertainty facing the world today – with the US elections,
Covid-19 and the economic slowdown?
One of Momentum’s strengths is the comprehensiveness of our
offering, which includes a range of guaranteed solutions. These
go a long way towards removing uncertainty. In the guaranteed
annuity space, clients will be assured of always receiving a predetermined
income, regardless of how markets perform or how
long they live. In the structured products space, some solutions
offer different return profiles that are secure and predictable. This
allows clients to diversify their portfolio in ways that suit their
individual needs.
Blue Chip advice?
Choose partners who are experts and who you can trust.
Time in the market is more important than timing the market.