The Witness
5 minute read
30 May 2022
11:32

A family business celebrates 20 years of outstanding service to its clients

The Witness

“On May 2, 2002, we saw our first client walk into our business at 10?am. It was the late Ramjith Ram of Ram’s Flower Market.“ We were so excited as he walked towards us with a bunch of flowers which he gave to my [late] daughter Kajal, who was the co-founder of this business.

“On May 2, 2002, we saw our first client walk into our business at 10 am. It was the late Ramjith Ram of Ram’s Flower Market.

“We were so excited as he walked towards us with a bunch of flowers which he gave to my [late] daughter Kajal, who was the co-founder of this business.

“Then he asked for his favourite cup of tea, which he always did when I was still at the bank,” recalls Shakthi Bunwarie who remains at the helm of the family run, Power Brokers and Financial Services, as it celebrates 20 years in business in Pietermaritzburg.

Involved in all aspects of the business are his daughter Kanchaal Mahabeer, son-in-law Rishav Mahabeer, wife Madhu Bunwarie, and brother-in-law Guru Mahabeer.

With a ready smile always at hand to welcome clients to the business premises situated at 98 Chase Valley Road, is company administrator Tiara Maharaj.  Power Brokers and Financial Services is a family orientated company that offers a personal touch and financial services that are tailor-made to suit the individual requirements of each and every one of their clients. 

“We have clients who joined us on day one and are still clients today. We appreciate our clients and highly value their loyalty,” says Rishav Mahabeer. Power Brokers and Financial Services is proud that 90% of its clients have stayed with the company since it opened, with many having consulted with Shakthi Bunwarie for over three decades as they followed him from the time when he worked at NBS Bank in Pietermaritzburg.

ACCOLADES

Since its inception Power Brokers and Financial Services has won accolade after accolade in the financial services industry. The awards the company has won include the Sanlam Gem Award, Liberty Business Excellence Award, PPS Top Investment Intermediary Award, Discovery Prestige Broker Award and the Momentum Elite Award.

PAYING TRIBUTE TO CO-FOUNDER KAJAL BUNWARIE

Shakthi Bunwarie’s daughter Kajal was a part-time law student and full-time administrator at Power Brokers Financial Services. It was her idea that her father should go out on his own after a long and successful career in the banking industry. Shakthi Bunwarie joined NBS bank as a financial planner in 1990, and during his career he was rewarded with many accolades, including winning the title of “most valuable financial planner” and “employee of the year” in 1996. He held on to the title of “most valuable financial planner” for seven years in a row.

When Kajal Bunwarie became his personal assistant temporarily when his PA went on maternity leave in 2001, she encouraged her father to go out on his own, and so the idea of Power Brokers and Financial Services was born. Today she would have been proud of her “brainchild” and how it has grown. Power Brokers Financial Services is proud to celebrate its 20th anniversary, especially in light of the pandemic. “We witnessed many SMEs and large corporates fold under the economic pressure in 2020 and 2021. “We managed to keep our ship afloat and believe from here on we can only soar to greater heights.”

Power Brokers and Financial Services is one of only a handful of independent brokerages in South Africa to offer both holistic and independent financial services.

The company is contracted to the seven major life insurers in South Africa, six major short-term insurers and five medical aid and gap-cover providers, and is networked to major commercial and local fiduciary companies.

The company’s mission is to be: “An innovative financial services provider of choice for private clients seeking a tailored and sustainable approach to wealth and asset management and holistic financial planning.”

“We have served our clients for 20 years guided by a simple philosophy of adapting to the changes in markets, regulations and the environment. 

“As a result, we have grown stronger by adapting to worldwide socioeconomic challenges, not by standing still and waiting for them to pass, but by re-evaluating and rethinking the world around us with our ultimate goal of powering our clients to financial freedom.” Power Brokers and Financial Services is an independent financial services provider, providing holistic financial services encompassing life insurance, investment planning, medical-aid cover, short-term insurance, private banking and fiduciary services to personal and corporate clients.

RUN BY HIGHLY EXPERIENCED MEMBERS

Founding member Shakthi Bunwarie is a key individual in Power Brokers and Financial Services, with experience spanning 42 years in the financial planning industry.

He has a post-graduate diploma in financial planning from the University of the Free State and was one of the first certified financial planners in South Africa.) Rishav Mahabeer joined the business in 2004. He has 18 years of experience in the financial planning industry.

Rishav has a post-graduate diploma in financial planning from Milpark Business School. He is a certified financial planner and member of the Financial Planning Institute of Southern Africa and is a commissioner of oaths.) Kanchaal Mahabeer joined Power Brokers and Financial Services in August 2009 after completing her bachelors degree majoring in human resource management and ethics from the University of KwaZulu-Natal. Kanchaal has 13 years of experience in the financial planning industry.

She also has a wealth management diploma in financial planning, short-term insurance diploma from Milpark Business School and a management diploma from Wits Business School. She is a member of the South African board for people practices and a commissioner of oaths. Since 2015, Kanchaal has been a principal member and key member of Power Brokers Financial Services.) Guru Mahabeer joined Power Brokers Financial Services in January 2011.He has 31 years of experience in the banking sector in financial services and has 11 years of experience in the financial services sector. He has a higher certificate in financial planning from Milpark Business School. ) Tiara Maharaj joined Power Brokers and Financial Services in 2019.She manages all administration for the business and is a private banker.

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