Momentum Wealth International, the Guernsey-based investment platform of Johannesburg Stock Exchange-listed, South African insurance and financial services company MMI Holdings, is discontinuing its use of the marketing and distribution services of Provisca, it has been revealed.
Provisca founding partner and marketing director Bryan Low (pictured right, above) confirmed to International Investment that the business relationship was ending because the job setting Momentum Wealth International up internationally had been completed, and that the company was now about to bring its marketing operations back in-house, but said he couldn’t say any more.
As reported, Provisca was founded in 2016 by two veterans of the cross-border financial services industry – Low, a founder and principals of an established offshore industry consultancy known as Acuity, and Nigel Watson (pictured left, above), who most recently had been marketing and sales director for the previous six years at VAM Funds. Momentum Wealth International became their first client when they signed it up in July, 2016.
MMI Holdings was formed in 2010 by the merger of two South African businesses, Metropolitan Holdings and Momentum Group.
It is understood that Provisca’s other clients are still in place, including Heptagon Capital, a London-based asset manager, and QB Partners, formerly the QROPS Bureau, an Isle of Man pensions specialist.