NVest Financial Holdings in the Context of COVID-19
As details about the spread of COVID-19 dominates our news feeds and media every hour, the picture has changed dramatically since President Ramaphosa announced a 21-day lockdown starting at midnight on Thursday 26 March 2020.
In this context I wanted to write to you directly to communicate our approach and the actions we have taken and are taking across the NVest Group to assist all of our clients and colleagues to navigate through this turbulent environment.
You have no doubt been inundated with similar communications from a host of institutions over the last 24 hours. We aim to keep our communication relevant and concise. Please see our top 6 key client messages accompanying this letter. We will continue to communicate proactively with you on an ongoing basis to ensure that you are kept appraised regarding both our operational capabilities and our views on the market and the broader economic impact of COVID-19.
Our steadfast commitment is to conduct ourselves as a responsible corporate citizen in both contributing to the quelling of the spread of the virus in the way that our staff and teams operate during the lockdown and beyond and that we remain accessible to and actively engaged with our clients throughout this period. To this end we are working in close collaboration with our service providers, institutional partners and regulatory bodies to ensure that we are part of a coherent response to the threat of COVID-19.
We cannot predict how long this cycle will last, but history tells us that the markets will eventually stabilise and begin to recover over time. NVest and NFB was built with times like this in mind. In our 34-year history we have been here before and, with our clients, we have emerged on the other side.
NVest Financial Holdings Limited – Group CEO
NVest Financial Holdings Limited, incorporating subsidiary businesses; NFB Private Wealth Management, NFB Asset Management, NFB Insurance Brokers, NVest Securities, NVest Properties and Independent Executor and Trust.
NVest - Covid-19 Key Messages -Wednesday 25 March 2020
1. Our businesses have already taken pro-active steps to ensure a state of readiness ahead of the national lockdown.
2. We have a robust Business Continuity Plan in place to ensure that our business operations continue throughout the lockdown. Pursuant to this plan, large contingents of our staff are already working remotely and off site. By close of business today, 152 of our 162 employees (94%) will have been fully enabled to continue performing their duties offsite.
3. We have deployed the necessary technology to ensure that, despite these remote working operations, productivity across our businesses is not compromised. Our existing IT and technology plan, which has included Cloud migration, Microsoft Teams and other applications to allow for virtual meetings alongside our existing CRM software, has ensured that the transition to our Business Continuity Plan has been seamless.
4. Importantly, our Advisors and front-line client interfacing staff remain accessible and contactable via telephone and email. All of these staff have the necessary resources, infrastructure and tools to continue servicing your needs no matter where they are located. Furthermore, clients will continue to be able to interact and give instructions on their Nedbank Corporate Saver and Investec Cash Manager accounts as per usual with us.
5. We have taken an array of steps to protect the safety and wellbeing of our staff. Remote working, bans on local and international travel, reduced physical contact and meetings alongside increased personal sanitisation and cleaning regimes are all central to the broad spectrum of steps adopted in line with the World Health Organisation and industry best practice.
We remain committed to communicating with you on an ongoing basis throughout the lockdown and beyond. To achieve this we are implementing a comprehensive, client centric communication plan which will ensure that respective business leads as well as your Advisor will be in regular contact with you through market and business updates.