"Today, Tomorrow, and Forever": Standard Chartered’s Approach to Simplifying Wealth Management Across Life Stages

In an interview with FA Khushboo Dhutia , Head of Investment Advisory at Standard Chartered Kenya and Uganda, she emphasized that this framework is designed to simplify wealth management by focusing on three key phases. “Today” involves addressing immediate needs, such as daily living expenses, rent, and building an emergency fund. Products like Standard Chartered’s Shillingi Fund, which allows clients to start investing with as little as 500 Ksh, provide an accessible entry point for people to manage their “Today” financial goals.

As clients move to the “Tomorrow” phase, they begin thinking about mid-term objectives like saving for a holiday, further education, or future purchases. Here, Standard Chartered offers tailored solutions designed to ensure that clients can meet these goals on time, without the stress of unplanned financial surprises. The final phase, “Forever,” deals with long-term financial planning. This is where clients begin preparing for retirement, legacy building, or other life-long investments. With Standard Chartered’s advisory services, clients can effectively plan for these phases, ensuring that their financial future is secure.

Khushboo noted that the simplicity of this approach lies in its flexibility. No matter where clients are on their financial journey, the framework provides a roadmap that helps them break down their goals into manageable stages. "We've made it simple. By breaking it down to ‘Today, Tomorrow, and Forever,’ our clients can visualize their wealth in these clear stages and invest accordingly," she explained. This structure allows clients to prioritize their financial goals and adjust their strategy as their circumstances change, ensuring they remain on track regardless of life’s unpredictability.

By simplifying wealth management in this way, Standard Chartered is addressing a fundamental barrier that many Kenyans face: the perception that financial planning is too complicated. By breaking down the process into digestible stages, they are ensuring that more people can participate in wealth-building activities. This is particularly important in Kenya, where financial literacy remains a challenge for large segments of the population. According to the 2019 Kenya FinAccess Survey, only about 39% of the population understands basic financial concepts.

Standard Chartered’s framework not only simplifies wealth management but also serves as an educational tool, helping clients better understand their financial options and make more informed decisions - a powerful reminder that wealth management doesn’t have to be overwhelming.