Leading South African investment and wealth management firm Carrick Wealth today (Tuesday, 01 December 2020) launched its exciting new division, Carrick Partners, with the highly experienced Fred van Niekerk at the helm as General Manager.
This new addition to the Carrick Group will focus exclusively on assisting established, independent financial advisory firms grow their revenue and assets under management through international access and exposure, whilst reducing risk and complexity as they enjoy full operational backing from Carrick. It will also afford their clients a range of global financial planning and investment opportunities they may not have enjoyed before.
Global footprint for growth
The multiple award-winning Carrick Wealth has distinguished itself as one of the fastest-growing financial services firms, recently winning at the prestigious International Adviser Best Practice Adviser Awards 2020 as the Best Adviser Firm in South Africa. Over the past 6 years it grew its assets under management by 34% per year to $335 million offshore and R623 million in local assets. The Cape Town-based group, with a global footprint and offices in several African countries, has been expanding in leaps and bounds with several new additions over the past 18 months, Carrick Partners being the latest.
Through the establishment of Carrick Partners, the firm now wants to extend its highly regarded formula for success to established, independent South African financial advisory firms by offering them partnering relationships with Carrick. This will substantially enhance the offering of such firms through access to Carrick’s comprehensive operational support at all levels, its suite of the best global and local products available, and its proven best-practice financial planning solutions and expertise both in the offshore and local environments.
Exciting opportunity for established firms and their clients
“This is an exclusive and exciting opportunity for independent advisory firms and advisors to partner with Carrick in order to grow and optimise their practices and their careers through Carrick’s definitive global wealth management offering,” says van Niekerk about the new division he will be heading.
“At the same time, it means their clients will no longer be restricted to local markets and local product provision only and it will provide so many more South Africans with access to offshore investment and wealth management.
“The key to any relationship, and in particular to a Carrick Partners relationship, is for all parties to offer their best in creating an environment for mutual growth. Carrick is the recognised market leader for global product provision and advice, and our partners are established financial advisory firms with existing relationships in the communities they serve. When we combine these, we facilitate growth through enhanced service and product offerings.
“With our launch today, we are initiating the first phase of this venture for independent firms in the Western Cape. Financial practitioners who are interested in partnering with us, merely have to contact Carrick to set up a meeting to start the conversation and discuss the fundamentals involved,” says van Niekerk.
Three pillars of assistance
Carrick will be focusing on three pillars of assistance to advisory firms that partner with it:
Increase Revenue, Assets Under Management and Client Experience
This includes the Carrick brand, access to Carrick’s global wealth management offering, lead generation with defined return on investment parameters, marketing and brand building support, and bespoke training and development programmes.
Decrease Costs, Risk and Complexity
This involves enhanced compliance support focused on practice management solutions, access to Carrick Prime, Carrick’s complete enterprise management software solution for advisors and clients, and dedicated paraplanners and business administration support.
Future-Proof Both You and Your Clients Future
Carrick’s proven client servicing structures will ensure that partners’ clients will always receive the best advice and benefit from partners’ access to Carrick’s research and development in all spheres. In addition, Carrick’s unique book buy-back option and exit strategy secures the financial future of partners or provides them with their own retirement plan.
To summarise, for prospective licensees or Carrick partners, the Carrick value proposition is simply for established advisory firms to increase their revenue, advise a bigger audience with better advice, offer their clients global access, while decreasing their costs and risk, and at the same time future-proofing their business and securing their own financial future and succession planning.