Advice Specialist: Fiduciary at Nedbank

Job Purpose

• To provide fiduciary advisory technical expertise, as part of comprehensive wealth advice and financial planning, across Nedbank Wealth Management (South Africa), in support of wealth managers, financial planners, international and portfolio management specialists, private bankers, structured lenders and other areas of our business.

Job Responsibilities

• Provision of day-to-day fiduciary advisory technical support to wealth managers, financial planners, international and portfolio management specialists, private bankers, structured lenders, and other areas of our business eg Nedgroup Trust (Pty) Ltd, in support of acquisitions, servicing and retention of clients and risk mitigation.  
• Design, build and ultimately embed estate planning capabilities structurally in the advice process, by scaling the provision of these services across client segments and in so doing enable retention, cross-sell, upsell and/or increase margins and mitigation of risks.
• Contribute towards the Centre of Excellence (CoE) work:  Improve quality of advice (beyond investment/product suitability) as Subject Matter Experts (SMEs), scale the provision of advice working closely with the broader Adviser Enablement team to solve for the digitalization of the advice process to include, inter alia, fiduciary and risk planning:
• Training:  Upskill client facing people through regular training sessions to improve the quality of fiduciary related advice and to deliver the identified scalable client segment estate planning solutions.
• Communications and webinars:  Producing internal and external communications (legislative changes, thought leadership etc). 
• Advice planning processes and supporting material: Design processes, house views, guidance docs etc
• Provide fiduciary advisory technical expertise directly to primarily ultra-high-net-worth clients (+R100 m absolute balances), high-net-worth (+R10 – R100 m absolute balances) and private clients.

 To do so you must be able to:

• Prepare detailed estate planning reports, including inter alia, reviewing and advising on the South African and international estate and tax planning consequences relevant to any existing South African and international estate planning ‘tools’ and assets; analyse clients' unique needs and circumstances; make appropriate recommendations with respect to South African and international estate and tax planning ‘tools’ and techniques that can be used to meet clients' unique needs.

Provide South African and international wealth structuring advice, which includes inter alia: 

• Consultation in connection with, and taking instructions for, the drafting of wills (dealing with South African and international assets), and where applicable, facilitating the drafting of wills in foreign jurisdictions to deal with international assets.
• Drafting South African trust deeds i.e. inter vivos and charitable trusts and other philanthropic structures in South Africa, in accordance with relevant legislation, regulations and best practice.
• Review of existing South African and international trust structures and provision of recommendations to ensure the viability thereof in accordance with relevant legislation, case law, regulations and best practice.
• Facilitating the establishment (or transfer) of new international trusts, investment/property holding companies, and any other relevant international structures.
• Comprehensively explaining the estate and tax planning considerations of the different legal ownership options (local and international wealth structures).
• Provision of exchange control advice.

Job Responsibilities Continue

Actively participate in Advice meetings by:

• Providing updates with respect to legislative and regulatory developments and case law impacting fiduciary-related matters.
• Contributing towards ensuring the document library (templates) is kept up to date, e.g. estate planning reports, trust deed templates and loan agreements.
• Creating house views on fiduciary-related matters.
• Ensure national compliance and risk management processes and procedures are in place and ensure adherence therewith.

Essential Qualifications

• Degree – preferably a law degree
• Postgraduate Diploma in Financial Planning
• Tax qualification - Higher Diploma or HDIP Tax

Preferred Certifications

• Admitted legal practitioner
• Registered tax practitioner (SAIT or FPI)
• CFP® 
• FPSA®
• FAIS 
• TEP

Preferred Professional Memberships

• FPI 
• FISA
• STEP

Minimum Experience Level

• Minimum:  Seven years working experience in the wealth management or private wealth environment advising on estate and tax planning, legal ownership options and wealth structuring, local and international trusts, and other fiduciary advisory services.
• Preferred:  Ten years working experience in the wealth management or private wealth environment advising on estate and tax planning, legal ownership options and wealth structuring, local and international trusts, and other fiduciary advisory services.

Technical / Professional Knowledge

• Relevant Software and system Knowledge
• Occupational assessment report writing
• Relevant regulatory knowledge
• Principles of project management
• Knowledge of commercial property market & property finance
• Data analysis
• Research methodology
• Principles of Financial Management

Behavioural Competencies

• Technical/Professional Knowledge and Skills
• Advancing Sales Discussions
• High-Impact Communication
• Influencing
• Decision Making
• Coaching