Alexander Forbes invests in research and staff to become a market leader

Sundeep Raichura, CEO Alexander Forbes Kenya. He says the firm is looking to promote a culture change and empower Kenyans to take charge of their financial destiny. PHOTO | FILE | NATION MEDIA GROUP 

By Sandra Chao-Blasto

In Summary

• Over the last decade the firm has diversified its services to become a one-stop shop for financial solutions in the country.

A merger with the then Hymans Robertson Kenya in 2003 created the perfect opportunity for financial services company Alexander Forbes Group to enter the East and Central Africa market.

Over the last decade the firm has diversified its services to become a one-stop shop for financial solutions in the country. The firm offers a wide range of services including pensions advisory and administration, asset consulting, financial planning, investment education and trust services.

Group chief executive Sundeep Raichura told the Business Daily that providing impactful services by partnering with clients to secure their financial wellbeing has enabled the firm to remain market leaders.

“Our main focus over the years has been creating a holistic service offering that is unique in the market and we have made significant progress in positioning our business as the market leader in the pension administration, employee benefits and insurance services business in the country,” he said.

In last year’s survey of the Top 100 small and medium enterprises, the financial services firm ranked 21. This, Mr Raichura, says is the outcome of years of  investing in dynamic people, leveraging systems and building processes.

“The investor climate in the country has had its ups and downs but we have been able to overcome many a bumpy ride as a company because of the resilience and the entrepreneurial spirit of Kenyans,” he said.

Alexander Forbes Kenya has invested in quality human resource, with their employee size quadrupling over the last ten years. Most of the staff is young but Mr Raichura says having job roles that continually challenge and grow staff has helped liberate their potential.

Through IT infrastructure the company has been able to ensure staff are kept abreast with the latest developments in the industry.

“The level with which we engage with our employees has not only created a much better experience in the workplace but also a passion and focused commitment to the implementation of our strategies,” he explained.

“We are looking to promote a culture change and empower Kenyans to take charge of their financial destiny. By creating awareness and providing education on the importance of savings we hope to impact their financial security by fashioning a road map of how to get there,” he said.

He said the company’s commitment to provide innovative solutions has resulted in several firsts, like the umbrella retirement benefits scheme and the Alexander Forbes Consulting Actuaries Schemes’ Investment survey.

“We have researched saving habits and factors influencing people’s financial security and this insight has enabled us to design relevant solutions for individuals to attain sustainable economic empowerment in the long term,” he said.

The firm is one of the largest pension managers in the country with 28,000 members of retirement schemes. The financial services firm also plans to develop a real estate project in Kitengela where it plans to build 211 maisonettes to sell to its members at concessionary mortgage rates.

schao@ke.nationmedia.com