IN THE PAST YEAR Absa Stockbrokers & Portfolio Management has increased its offshore focus. The bank says it has noticed that owing to excessive volatility there has been a decrease in clients’ appetite for derivative products such as CFDs, so emphasis has shifted to the externalisation of funds and the trading of ETFs and ETNs that are listed on offshore exchanges.
The bank has its own trading platform for local transactions but uses the World Trader Platform for offshore transactions. This platform offers a cross-device experience between desktops, tablets and smartphones, with closely aligned user experiences. Clients can follow their watch lists on their preferred devices.
Absa strongly focuses on young savers and lump-sum investors, and these segments are well catered for. For young savers the bank offers affordable products such as tax-free savings accounts and ETFs, and it doesn’t require minimum amounts. Clients have access to a wealth of straightforward as well as uncomplicated video education.
For lump-sum investors there is a variety of products designed specifically to maximise client returns. This group also has access to financial advisers who offer holistic wealth management and stockbroking services.
Absa prides itself on being one of the most affordable JSE members, and clients affirm that, with 75% saying that its offering is affordable.