Jamaica Money Market Brokers (JMMB) aims to cement its place as the financial partner of choice for women with its newest product offering, JMMB Her Wealth.
In launching what it describes as the first of its kind on the market, the investment institution has designed the financial solution with hopes of empowering women to realise their financial goals through investments, loans, savings and insurance.
The women-only event was held at the Spanish Court Hotel on Wednesday.
JMMB Her Wealth follows on two new unit trust products — the JMMB Bond Fund and JMMB Real Value Fund — launched by the institution in 2015 as it sought to increase market share.
“…whatever they are and wherever we are on our financial journey. We have included unique add-ons like maternity loan and handbag coverage, which is a part of the motor vehicle insurance coverage,” JMMB Country Manager Kisha Anderson told the audience, adding that the company has identified that women have unique needs and have a different relationship with money from men.
“As your financial partner we want to support you by providing financial expertise and education to give you greater access to critical services so that you can be empowered to make the best financial decisions for yourselves, your families and those who depend on you,” she continued.
According to Anderson, the financial institution, which made $2.03 billion in net profit in the six-month period ended September 30, 2016, expects the introduction of JMMB Her Wealth to expand the company’s client base while deepening its relationship with clients.
Currently, the gender split of JMMB’s client base stands at 59 per cent, in favour of women.
“Research indicates that women represent a huge potential market opportunity for growth across many industries, including finance where there are gaps perceived in the way financial institutions cater to women and their unique needs,” said Anderson.
JMMB Her Wealth will also feature a rewards programme for services utilised by women in their daily lives, including medical care, beauty, auto and home and garden services. JMMB will be partnering with companies from the service industries to offer discounts between five and 20 per cent.
As a part of its aim to facilitate financial empowerment for women, JMMB Group will also be hosting quarterly financial education sessions which are expected to provide women with guidance and knowledge of important financial matters.