Traditionally, offshore investing has been expensive and difficult to access.
It was mostly geared towards high net worth individuals who were predominantly males; however, Mexem is at the forefront of encouraging all investors, male and female, to diversify their wealth and start their global investment journey.
We spoke to Alexa Abramovici, Head of Sales and Marketing at Mexem Africa, regarding her take on what Mexem offers South Africans, especially relating to women in the financial services workplace.
Global investing at lower costs
“Our mission is nothing short of revolutionary: to bring award-winning low-cost brokerage services to the masses,” said Abramovici.
Abramovici explains that Mexem gives investors access to trade on over 135 global markets, in 23 currencies and at fees much lower than most local institutions while still providing personal client service from South Africa.
Mexem Africa has achieved this model by introducing Interactive Brokers (the largest electronic brokerage firm in the USA) to the South African market.
The idea of Mexem was born when research was conducted on trading fees incurred by emerging market participants wanting to trade in global markets, Abramovici explained.
Mexem recognised Africa and various other regions as markets where many investors were being charged remarkably high fees, especially when investors wanted to enter offshore markets.
The process of obtaining this offshore exposure has also traditionally been complicated and lacks personalized service to clients.
This is where Mexem is changing the game – by introducing low cost global investment access with a dedicated client service team situated in South Africa to assist with client needs and provide a much-needed service offering to clients.
No management fees
Moreover, Mexem does not charge clients management fees, unlike many of its competitors. Customers only pay when they trade.
This makes the Mexem platform well-suited to individual investors who would like to buy specific offshore shares to hold, as well as investors who make frequent trades.
Additionally, with Mexem, you do not need to have a personally dedicated stockbroker or have large amounts of money to start trading.
“We want all South Africans to start taking control over their investment decisions and engage them on diversifying their portfolios” said Abramovici
Mexem strives to develop strategic partnerships with key players in the industry to allow Mexem to continue to complement its current offering to its clients.
One such partnership worth noting is with Rimar Capital, Mexem’s sister company.
Rimar Capital is an artificial intelligence driven multi-strategy asset manager providing bespoke investment solutions to clients.
Rimar makes available several different investment strategies to cater to investors’ different needs when considering risk and return.
Women in investing
The world has come a long way in terms of gender equality, and investing is no different.
Where once most investment portfolios were controlled by men, changes surrounding income and education has created a dramatic shift and have given to the rise of female investors, said Abramovici.
Studies have shown that while various social and cultural reasons are contributors to this, there is also another reason: rising economic might.
“The next generation of investors will be younger and much more diverse, with women taking an increasingly prominent role in building and growing family and personal wealth,” said Abramovici.
Mexem empowers women
Studies have shown that women are still underrepresented in the economic arena.
For this reason, Mexem is committed to empowering women in its workforce and its female clients.
Mexem Africa believes that having a diverse workforce with different backgrounds and experiences enhances its company with a variety of viewpoints and philosophies, which ultimately improves its service offering.
Empowering women in the workforce does not just happen by hiring more women.
Mexem gives all employees the tools to succeed, regardless of gender. It gives its female employees support and mentorship so that they can learn how to be managers and how to succeed at the next level.
By hiring, promoting and fostering more diversity amongst its employees, Abramovici believes it has built a more inclusive culture of opportunity and fairness.
Unlocking the power of the women investor
Mexem’s role in empowering women has also allowed it to be more focused on better understanding the female investor and to better serve its female clients.
“At Mexem we want women claiming their power and autonomy with their money,” said Abramovici.
“Anyone who has the ability to save should be investing to create long-term financial health and to reap the benefits that investing offers – regardless of their gender.”
“Furthermore, we believe that individuals are wanting to be more in control of their own investment decisions rather than simply leaving it in the hands of a financial advisor. We have noticed that this trend applies to women and men alike and we are excited to be at the forefront of this,” said Abramovici.
“The financial industry needs to overcome its perception of women in the financial market and unlock the power of the women investor.”
“Before working at Mexem, I was sceptical about investing in the stock market,” added Abramovici.
“I thought that the substantial risks or volatility involved in investing was too daunting for me and that stock market investing was exclusively for expert traders and asset managers. However, when starting at Mexem I learnt that with a little bit of research and understanding of the investment world, I was able to get involved in my own wealth creation which is empowering as a woman.”
Invest with Mexem
Mexem believes unlocking the potential women investor is an important step in the evolution of women’s advocacy, as well as for the entire investment and trading industry.
As such, Mexem encourages any woman who feels daunted by the prospect of investing to exit her comfort zone and get involved in investing with Mexem.
This new paradigm shift will shape the future of products and services on offer in the investing industry, and Mexem is constantly looking for new ways to improve and cater to these changing needs.