If you earn R25 000 a month, or have a home loan of R400 000, or a car worth R180 000, and are an Absa customer, expect a call soon from your bank.
Absa has launched a new division to cater for affluent clients. Absa Personal Financial Services aims to take care of all your financial needs, from investment planning, tax planning, estate planning, retirement planning, offshore financial planning to risk management.
If you fit the customer profile, you will be invited in for a full financial needs analysis and an assessment of your investment risk profile.
Brendan O'Donnell, the managing executive of Absa Personal Financial Services, says the new division intends to offer:
* Personalised service;
* An overall solution to your financial needs, which involves more than just banking products; and
*Financial planners and relationship managers who will see to your needs and be paid according to performance.
Absa has recruited 185 "relationship managers" and 107 financial planners, who will operate in about 60 areas around the country.
The relationship managers will focus on building a relationship with you and will work closely with the financial planners, O'Donnell says.
Branch managers will not cease to exist, but will be responsible for the activities that take place inside each branch.