Alexander Forbes enters into strategic partnership

By: Alexander Forbes

Alexander Forbes enters into strategic partnership that will redefine the retirement landscape

Alexander Forbes has partnered with Colourfield Liability Solutions, a leading African liability driven investment manager to launch a new retirement solution called Alexander Forbes ClarityTM. It is an investment framework that provides members of retirement funds with an ability to meaningfully focus on and engage with their retirement income goals.

Andrew A. Darfoor, Group Chief Executive of Alexander Forbes, says that the strategic partnership with Colourfield is designed to lead, shape and innovate the retirement industry by offering for the first time, a retirement solution centred on the individual. The new solution will focus members on an individual retirement income target and will personalise the investment experience by considering a broad range of factors beyond simply a member’s age.

“We are delighted to have partnered with Colourfield, a leading provider of liability-driven investment strategies, to offer members of retirement funds a new, innovative, first-of-its-type solution. This is a smarter way to assist clients and members approach retirement provision and planning, with greater levels of clarity and certainty” says Darfoor.

Darfoor says Alexander Forbes ClarityTM has been launched against the backdrop of concerning statistics from the Alexander Forbes Member WatchTM survey which shows that just 5% of working South Africans will be able to retire comfortably based on current pension contribution rates.

“We have adopted the financial well-being philosophy as the anchor of our client value proposition and strategy to enable clients to make informed choices and options over their lifetime. The launch of the Alexander Forbes ClarityTM range of solutions represents a key part of our lifetime of financial well-being value proposition” says Darfoor.

Costa Economou, CEO of Colourfield, says “Colourfield has worked with some of the world’s most highly acclaimed academics who have dedicated decades of their academic and professional lives to being at the forefront of this goals-based approach. We are pleased to partner with Alexander Forbes in bringing the solution to Africa.”

“At its core, Alexander Forbes ClarityTM is centred around each individual who, within an advice-led financial well-being framework, defines their personal income goal at retirement. The solution then aims to structure a unique portfolio within their retirement fund with the best chance of meeting their income goal,” says Economou.

Darfoor says, “The solution automatically adjusts as various factors impacting an individual’s income in retirement changes, and will redefine the retirement industry. The solution, which has been designed in line with our Living*InvestingTM investment philosophy, will be made available to Alexander Forbes retirement fund clients in the first quarter of 2018. We look forward to sharing more details of the solution in the new year”.