Setor Quashigah, Head of Wealth Management at the Standard Chartered Bank Ghana Limited The Head of Wealth Management at the Standard Chartered Bank Ghana Limited, Mrs. Setor Quashigah, has advised the investing public to assess their risk appetite before they sign up for any investment product.
She said more than often, people signed up for investment products without first checking their risk profile and are found wanting when investment outcomes deviate from their expectations.
Mrs. Quashigah revealed in an interview with the Daily Graphic on Investment and Wealth Creation. “We found out during the financial crisis that people, who probably were risk averse, had put their monies in high risk instruments.
“Everyone who wants to invest must check their risk appetite, for example how much drawdowns one can accommodate when markets get volatile? Because the higher an investor’s investment return expectations, the more likely they are to invest in riskier instruments,” she noted.
She said this was why at Standard Chartered, before a client signs up for any investment package, it is mandatory to first check the customer’s risk appetite.
“At Standard Chartered, even before we start investing for you, we will check your risk appetite and after checking that we will also make sure that the product we have displayed matches that risk appetite,” she stated.
Investments are great
Mrs. Quashigah, also noted that investments were great as it was one of the ways of creating wealth and therefore urged the public to invest. “Investment is great and it should not be just the typical treasury bill all the time but other investment products as well. You should be able to stretch your money or make it work for you even while asleep”.
“At Standard Chartered, we have lots of other investment products both in foreign currency and local currency. We also have both local currency bonds and foreign currency bonds which our customers can invest in,” she said. Investment education
Mrs. Quashigah also admitted that, level of understanding of financial market investing was pretty low in the country, something, she said had contributed to people taking investment decisions which were not in their best interest. She said this is the reason why Standard Chartered continues to engage the market actively through financial seminars and other face-to-face means such as the Bank’s trained relationship managers and wealth advisors, going out to meet and engage clients on investments.
She said the Bank also organizes financial seminars to […]