Focused attention

Advisory and intermediary services firm NMG Benefits is committed to providing independent and strategic consulting offerings to its members

NMG Benefits is one of the largest employee benefit consulting businesses in Southern Africa. It has 450 staff in 12 offices and looks after the healthcare or retirement funds of 1 000 corporate clients and some 350 000 of their employees.

The company is completely independent of any product house (such as an insurance company, asset manager or medical scheme) and is proud to be considered a trusted adviser by its clients. It believes that financial products are unnecessarily complex and expensive, frequently with high charges that are hidden or difficult to understand. The company considers the independent intermediary integral to a successful and competitive financial industry. That’s its role; one that the company is proud to play.

NMG Benefits is part of the worldwide NMG Group, which was founded in Singapore in 1992 by four South Africans. Its international sister company, NMG Consulting, provides strategic insights and advice to insurers, re-insurers, asset managers and wealth managers in all of the most important financial markets around the world, including the US, Canada, the UK, Australia, Singapore and SA.

NMG Benefits’ mission is to ensure that every member gets the best financial advice for their circumstances. This means that it puts the members first – even if in so doing the company reduces its income. NMG Benefits achieves this by constantly innovating, developing new solutions to members’ needs, and ensuring that the advice and services it delivers are effective and transparent.

The company is a Level 1 contributor under SA’s BEE guidelines. Its commitment to transformation extends far beyond scorecards; however, talented employees are put on accelerated leadership development programmes, and its community involvement – most notably via its annual Global Charity Challenge – provides much-needed support to hundreds of vulnerable children.

Bespoke financial advice for each member’s needs is a key component of NMG Benefits’ mission

Healthcare consulting
NMG Benefits provides corporations with strategic advice regarding the range of healthcare services for their employees, including medical scheme membership and options, employee assistance programmes, and low-cost benefits options such as a primary care and gap cover solutions. At a member level, it guides its customers through the maze of scheme options and helps them optimise their cover for their circumstances.

Retirement fund: consulting and administration
Accurate and efficient administration is critically important, which is why it’s so tightly regulated. NMG Benefits looks after some of the largest retirement funds in Africa. Its retirement fund consultants work with boards of trustees in areas such as scheme design, fund oversight and management, and group risk arrangements. The NMG SmartFund is the company’s flagship umbrella-fund product, aimed at SMEs and larger employers that do not want the compliance burden of a standalone fund.

Investment consulting
The investment consulting division provides both ‘implemented’ solutions via its multi-manager platform, Sequoia Capital Management, as well as independent, arms-length consulting advice and oversight for more than R40 billion in assets of larger funds.

Actuarial services
Actuarial services are still crucially important to retirement funds and medical schemes. NMG Benefits’ actuaries are among the most experienced and highly regarded in SA, and they play prominent roles in professional and industry bodies.

Personal financial planning
NMG Benefits’ personal financial planning division is where it focuses the advice and relationship on the individual, taking a holistic approach to the savings, investment and protection requirements of each member. NMG Benefits’ member consultants are salaried and independent.

Short-term insurance
The short-term insurance broking specialises in professional indemnity and related liability-type cover for boards of trustees and professional practices. It also collaborates with independent intermediaries that provide personal-lines insurance, making extensive use of technology to ensure cost-effective products.

From healthcare to short-term insurance, the company is committed to providing the highest-quality services and solutions

NMG Umbrella SmartFund
A flexible and cost-effective multi-employer fund for employees’ retirement savings.

NMG SmartAlec
This easy-to-use AI tool bridges the gap between financial products and people with an ultra-intuitive WhatsApp chatbot.

NMG Benefits Diagnostic Tool
A unique diagnostic tool in the form of a web-based application that enables employers to measure and benchmark the effectiveness of their employee-benefits programme against peers and industry best practice.

NMG SmartAid
SmartAid allows a member or employee to invest in a retirement annuity separately from their pension or provident fund to reduce the burden of healthcare in retirement.

NMG SmartGate
As part of NMG Benefits’ member-first strategy, SmartGate was designed to encourage members to make better financial decisions by understanding their overall financial position. The portal allows members to better understand how their current and future savings will determine the income they can expect at retirement.

19 Ameshoff Street,
Braamfontein, Gauteng, 2021
+27 (0)11 509 3000

C: Bespoke financial advice for each member’s needs is a key component of NMG Benefits’ mission

From healthcare to short-term insurance, the company is committed to providing the highest-quality services and solutions