“There is a plenty of wealth management business within the region and Takaud’s professional expertise coupled with technologically advanced platform offers unparalleled services to the prospective clients who can invest $50,000 as a starter,” Luc Metivier, told the Press conference.
TAKAUD Savings and Pensions B.S.C. (c) has $35million paid-up capital and is licensed as an Investment Business Firm (Category 1) by the Central Bank of Bahrain (CBB) and is a closed joint stock company incorporated in the Kingdom of Bahrain.
Metivier, who was joined by Loay Ragheb, TAKAUD’s Chief Commercial Officer and Ebrahim K Ebrahim, Chief Marketing and Communications Officer, said that this portfolio can reach $5billion in 20 years.
Replying to a question he said Takaud as a platform can help the clients to get the best of the best in the market at a very competitive fee which no entity offers across the MENA region.
“The state-of-the-art technology Takaud platform is unique in terms of empowering the investors and making right decision in a right time with one click,” he said, adding that Takaud has selected Bahrain to host the regional operations because of the regulatory regime and business friendly climate to operate in.
The wealth management department has been specifically created to provide discerning clients with personalised advisory services and bespoke investment solutions.
He said that Takaud would be recruiting at least 50 professionals followed by Kuwait and Egypt in an effort to bolster its team of experts in all areas of businesses.
TAKAUD’s name, which is derived from the Arabic word for retirement, is focused on providing Wealth Management clients with a best-in-class offering, which fuses industry leading financial planning practices from developed markets with regional cultural knowledge and investment expertise.
This innovative new advisory platform builds on TAKAUD’s respected regional market presence as a leading pensions and savings advisor, and positions TAKAUD as the ‘go to’ wealth manager for executives, businessmen, SMEs owners and managers, and affluent clients who are currently underserved by traditional banking services.
TAKAUD’s experienced wealth management team ‘on-boards’ new clients with a series of in-depth consultations. During this client centric phase, TAKAUD builds a comprehensive image of a client’s finances as well as their life goals and objectives. Once this stage is complete, and following a multi stage financial planning process, clients have access to their own qualified and regulated Investment Consultant, who advises them on the most appropriate investment solutions to create a balanced investment portfolio, which has access to a wide range of investment options.
TAKAUD’s globally respected international investment partners include Black Rock, BNP, Dexia, Robeco, Franklin Templeton, PIMCO, Pictet, and Schroder to name but a few.
TAKAUD’s Wealth Management clients are provided with regular portfolio reviews, full briefings on where their assets are invested, in addition to regular and up-to-date performance data and benchmarking to assess overall performance.
All clients are also empowered with access to a best-in-class technology platform, which facilitates wealth tracking, the ability to share data and performance reports, and manage transactions with the client’s investment consultant online, anywhere anytime.
For clients with significant investable assets, TAKAUD also acts as a discretionary fund manager and actively manages the client’s money, aiming to generate superior long term returns.
“I am delighted to launch our wealth management division, which builds on our region wide reputation as a leading financial planning and investment specialist. Whether you own a successful business or a member of a C Suite management team for example, our wealth management solutions are specifically tailored to meet your specific needs,” Loay Ragheb, TAKAUD’s Chief Commercial Officer, said.
“Our team provides access to the best investment options worldwide to ensure that our clients’ wealth continues to grow. Many people leave their money in low interest deposit accounts, with inflation they are actually losing money year on year and this passiveness must be avoided,” he added.
As a business, he added, we aim to have lifelong relationships with our clients as we guide them through a financial journey, which can last many decades. Our objective is to ensure that as our clients’ lifestyle develops, their finances grow with them. This can only be achieved through the type of proactive wealth management solutions that we provide.
“Proper financial planning can help grow one’s wealth – just like the grain of sand, which with time can grow into a beautiful pearl.”
TAKAUD specialises in providing long term savings and pensions solutions to individuals and corporations in the local and expatriate communities across the MENA region.
TAKAUD is 50% owned by Kuwait Projects Company (Holding) K.S.C. (c) (KIPCO) and 50% by United Gulf Bank a member of The KIPCO Group.
The KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 32 billion as at 31 December, 2014. The Group has significant ownership interests in over 60 companies operating across 24 countries. The group’s main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.