Friday 18 September, 2020

Victoria Mutual Wealth Management expanding footprint

Rezworth Burchenson (left), CEO of VM Wealth Management shares a laugh with Dr Maurice Guy (centre), Member of Parliament for Central St Mary and Courtney Campbell, President of the Victoria Mutual Group. The event was VM Wealth Management’s client mingle at Couples Sans Souci in Ocho Rios.

Rezworth Burchenson (left), CEO of VM Wealth Management shares a laugh with Dr Maurice Guy (centre), Member of Parliament for Central St Mary and Courtney Campbell, President of the Victoria Mutual Group. The event was VM Wealth Management’s client mingle at Couples Sans Souci in Ocho Rios.

Victoria Mutual Wealth Management (VM Wealth) has expanded its footprint on the north coast with the new VM Wealth location, at the Ocho Rios, St Ann VMBS Branch, 7 Newlin Street.

The location, which began operations late last year, follows the opening of the ultra-modern Fairview location in Montego Bay, St James. The Portmore location was also renovated last year.

VM Wealth plans to launch operations at the Half-Way Tree, Liguanea, UTech, Duke Street and Savanna-la-Mar VMBS branches this year.

CEO of VM Wealth Rez Burchenson said the expansion is in keeping with the purpose behind the work being done by the business.

“We believe that no Jamaican should be excluded from opportunities that can uplift them and their families financially. Whether at home or abroad, we see every Jamaican as worthy of financial wellness and are focused on providing them with convenient access to the best products and services available,” said Burchenson at a recent  client mingle held at Couples Sans Souci Hotel in Ocho Rios.

Burchenson shared highlights of the bumper year VM Wealth had in 2019, including real estate portfolio achieving growth of 14.3 per cent, making it the number one fund in its class; parent company Victoria Mutual Investments Limited (VMIL) acquiring 30 per cent of Barbados fintech Carilend;  VMIL stock return of 138.28 per cent; launching International Equity Trading (providing access to US Equities for clients) and hosting ‘Wealth Talks’ seminars both face-to-face and online, providing financial education.

“For 2020, we want to expand our reach and ensure that our clients enjoy a more seamless experience when doing business with us,” said Burchenson.

He noted that VM Wealth’s plans for the year include increasing its Diaspora reach through visits to Canada, England, Florida, New York; offering a pre-approved margin Loan to clients; launching an online IPO application process; enhancing training of team members.

“There will also be some new portfolios coming in 2020 – stay tuned!” Burchenson said.

President & CEO of the VM Group Courtney Campbell said that VM Wealth was in full growth mode.

“We are focused on transforming the financial wellbeing of thousands more Jamaicans. The foundation of our growth is the combination of our purpose – to empower Jamaicans to acquire their own homes and achieve financial independence – and our core values of member focus, integrity, teamwork, innovation and excellence,” Campbell said.

“Our values have been reflected in the roll-out of new products such as commercial mortgages, commercial motor vehicle loans, the relaunch of Approved Retirement Scheme in branches, new Unit Trust products, our new online banking facility and mobile banking app,” said Campbell.

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