The Taurus Wealth Group, founded by Mandeep Nalwa in Singapore in 2008, with its Dubai office led by Bhavnesh Thakkar for the Middle East and Africa region, and office in Zurich, has since its inception serviced high net worth (HNW) clients with a Multi Family Office (MFO) orientation, including a focused East African coverage led by Suhail Moosa: Rising Star award winner at the PBI Global Wealth Awards 2022. Its MFO approach, and aim to be a close confidante, mean clients need wealth management help from a 360-degree perspective, making very well-trained Relationship Managers (RMs) a necessity. Taurus won the Outstanding RM Training and Development Programme trophy as well.
The Best Practices Programme (BPP) conceived at Taurus Wealth usually runs for 2 months and is conducted three times a year to get its new RMs up to speed with the company’s values and its confidante approach to HNW family wealth management and to help incumbents continually refresh and hone their skills.
Different modules and case studies, gleaned from regularly updated internal source and product material, are held by senior financial advisors (FAs) on a regular, rotated basis. Participation from attendees that challenges the status quo is encouraged. Occasionally, outside speakers from partners are also invited in. Delivery is via weekly ‘parcels’ of hour-long sessions. The group dynamic is seen as essential in communicating success stories, cross-selling opportunities, and getting across the company’s values.
The BPP runs alongside Taurus’ formal induction for newcomers and its annual compliance training programmes, which are both designed to cover the important regulatory and compliance aspects of its policy framework. But the Best Practices Programme is different because the aim is to orientate new joiners to the company’s way of doing things, ensuring excellence and consistency for the client.
Entrusted to a senior FA that has extensive experience in addressing the multifaceted needs of HNW clients, the Programme Champion will always seek inputs from all relevant stakeholders prior to a new cohort taking on the course. This ensures dynamic content and that all material is always up-to-date. Several modules are held, covering:
- Portfolio management frameworks & client coverage models.
- In-house managed strategies and product capabilities.
- Succession & estate planning.
- Life insurance.
- Family governance & philanthropy.
- Managing collectibles & passion assets like art.
- Residency & alternate citizenship options.
- Financing & mortgage solutions.
- Prospecting & pricing – this conveys the value proposition & ensures consistency.
- Differentiated approach to managing private market allocations and exposures. A partner network overview supports this with fitment criteria.
- In-house systems – this teaches newcomers how to differentiate by leveraging Taurus’ digital, data reporting & analytical capabilities.
Rising Star: Suhail Moosa
The PBI Rising Star Award was granted to Suhail Moosa, Executive Director of Client Investments for the East African market, out of Taurus Wealth’s offices in the Dubai International Financial Centre (DIFC) in Dubai, UAE. He has used his long-standing relationships with the Indian-origin community in Kenya and the surrounding areas to become the top performer for the firm in Dubai in 2021, exceeding his targets and championing new business such as bringing Universal Life insurance front and centre for regional succession planning. [MG1] Moosa also recently organised an event in Nairobi where Taurus’ CEO spoke about the challenging markets in 2022 to a gathering of existing and prospective clients. Afterwards 20% of attendees wanted to meet within three days, while 50% said they’d be in touch.
The former ICICI, Citibank and Mashreq employee had to overcome a number of initial challenges on joining Taurus Wealth in 2020, not the least of which was a need to get up to speed on the family office model, via the BPP course, and an inability to travel due to the Covid-19 restrictions then in place. The MBA graduate of finance, from the ICFAI Business School in Mumbai in 2007, overcame these challenges to deliver results and win numerous testimonials from happy clients. He is leading Taurus’ efforts to grow the East African market, most recently hiring a veteran in the Tanzanian market.
Outside of work, Suhail Moosa is a keen golfer and racket sports participant, and he is the chair of a social and work group comprising of more than 500 Indian families from his hometown in India, which all currently reside in the United Arab Emirates (UAE), as he does. He is a trainer himself now on the BPP course at Taurus Wealth and strong advocate for the East African marketplace. [MG1]We do not want this information externally available