More focus on financial literacy needed
New faces at Simonis Storm Securities
21 October 2021 | Business
“We are firmly rooted in creating inter-generational wealth and are committed to simplifying complex financial services offerings,” says newly appointed Head of Wealth, Garth Petersen. “We are eager to share our knowledge and to adapt our services and offerings to different generations.”
Petersen says that many Namibians lack financial literacy. “This is such a shame, considering the missed opportunities for our collective economic development. Financial literacy is directly tied to your ability to make cost-effective decisions. You need to know which levers to pull, and where to spend to get your costs to translate back into revenue, especially in business. You need to understand what’s happening with your finances.”
Petersen’s opinion is supported by Heiko Prior, Head of Securities, who joined the company in April this year. “Simonis Storm is uniquely positioned to make a positive and impactful change in the economic landscape of our country,” Prior said. “We are a 100% Namibian owned and managed company and a leader in the market, offering financial services to a distinguished clientele wishing to build financial resilience.”
According to managing director Bruce Hansen, the impact of Covid-19 highlighted the need for robust estate planning to ensure that financial security is maintained in the event of an unforeseen change of circumstance. “Additionally, the need for businesses as well as individuals to have capital at their disposal is essential for sustainability. Therefore, Simonis Storm Securities is committed to supporting business entities and individuals in maintaining their financial goals.”
He hopes that with the appointment of Petersen and Prior, they are one step closer to achieving these goals. Both men come with vast experience in their fields, with Petersen being seasoned in the financial and capital markets space. His portfolio includes working with asset managers, medical aid schemes, unit trust funds, pension funds and global custodian banks.
Simonis Storm Securities specializes in securities trading, money market, capital and debt raising, portfolio management, risk management, treasury services, due diligence, deal facilitation, and company valuations.