Nico Asset Managers Limited, a local investment advisory firm, has launched a private wealth management campaign to prepare people for their retirement.
Speaking during the launch on Monday in Blantyre, the firm’s chief investment officer Daniel Dunga said people need to plan and prepare for their retirement by investing.
“This is a demand-driven initiative that people have been demanding during our consultative meetings.
“We had seminars to enlighten people on how they should prepare for their retirement and other eventualities,” he said.
Dunga said people have to follow a five-step process to achieve their investment goals.
The steps include getting to know yourself, setting your goals, building your portfolio, executing your plan and keeping oneself updated and in control.
“First, one needs to define their attitude towards investing and assess their financial situation. Thereafter, setting your goals with information to analyse your risk and return requirements along with your constraints comes next.
“This is followed by developing a tailored investment solution to start your journey towards your dreams as you build your portfolio after analysing the data,” he said.
Dunga said the fourth step requires one to be focused by making necessary sacrifice to execute a plan.
“Finally, you watch your money work for you,” he said.
Nico Asset Managers is a subsidiary of Malawi Stock Exchange-listed financial services group Nico Holdings plc.