Wealth Management conversations.

[Peterson Adejo]

Let’s get back to Wealth Management conversation…. This is what I love the most. Not politics. I love Wealth Management conversations. In fact, I created EVOLVE CAMP just to provide wealth mentorship free of charge to African builders.
Let’s talk about ADESUWA …

Remember I discussed Private Wealth BLACK CARD recently.
When myself and madam became Private Wealth clients in South Africa, we were given Financial Advisors and Private Wealth Black Cards.
Most people are usually excited about the Black Card but we were most excited by the Financial Advisors who doubled as our Wealth Managers.
Personally, I discovered that I had done everything wrong with my finances. I used to put a lot of money in Properties - a good wealth management will enforce DIVERSIFICATION. Today, my family’s portfolio is well diversified and the result is we have LESS CASH. I’ve shared a screenshot here before showing only 0.4% in cash. The portfolio even includes a crypto holding and mostly Fortune 500 and JSE listed stocks.
I’ve just described what ADESUWA does for a living - diversifying portfolios.
That was ADESUWA RHODES’ job - wealth management. She was a private banker who later founded a Private Equity Firm. If you are a Nigerian private banker, feel free to DM me. I have clients for you.

Let me correct this: ADESUWA IS NOT WORTH 80 Million USD. No. Her company earns between 0.5% to 1.5% of their AUM - Asset Under Management. She places the assets under her management at 80 Million USD. These are not her assets. They are assets owned by her clients who trusted her to manage their assets. So don’t run into her line of business thinking you will make 80 Million Dollars overnight or thinking that Wealth Managers make quick money. No. They earn a salary and their fees are highly regulated.

I have seen some people erroneously say that Ms. ADESUWA earns $80M per year . That’s wrong. Her company helps clients manage assets worth $80M per year. That’s a great feat but we need more fund managers like her to step forward. Nigerians need a wealth management revolution. There are a lot of hardworking Nigerians whose children will become BEGGARS if they die today. There are a lot of Nigerian Naira Billionaires who will die broke and blame village people.

Someone asked me to come back to Nigeria in the midst of the anti-migrant movement and I told them “my financial advisor does not agree with that”. He asked if my life is run by financial advisors and I said YES. You can ask ADESUWA. She doesn’t just advise the wealthy, she also helps them plan a lifestyle that won’t destroy their wealth. Wealth is not money. It’s a lifestyle - a mindset. Who you marry is part of your wealth strategy. Where you live is part of your wealth plan. Your Health is a major wealth strategy. And then there is Generational planning - your will, your life insurance policies etc. You can’t be wealthy without a Life Insurance Policy. You are just a hustler with cash.

I am glad that ADESUWA planned this successful PR outing with School of Hardknocks. The intention was to stir a conversation around wealth management but unfortunately, some Nigerians are only interested in the $80M per year she mentioned.

Now you understand better, what’s your trans-generational wealth strategy?

My name is Charles Awuzie and I am a student of Wealth.
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[Peterson Adejo]

“Before I thought she was worth $80 Million”. ~ Austin.
(Only wealth conscious people will read this to the end. I’ll personally invite those who read and understand this post to my inner circle.)

Knowledge is progressive. We must thank Ms. ADESUWA for bringing illumination to the Nigerian Asset Management Sector.

Many people know UBA but not many know UCAM also Chaired by Tony Elumelu. UCAM manages almost $1 Billion in Assets.
But the reason you know UBA and not UCAM is because you need a bank account but you don’t understand wealth.
UCAM is Tony Elumelu’s Asset Management Company which helps manage wealth for wealthy individuals. Remember, wealth here is not MONEY - it’s consciousness.

How many of you have heard of Baba Bolaji Balogun ? He is managing over $350 Million in assets. He is Dangote’s right hand man. Mr. Bolaji is quiet, unassuming and if you meet him, you will never know that this is the man who manages wealth for the 1%.

These asset managers sit on massive capital. The money you need to fund your business is in their pocket. But you don’t know them. You don’t use them. They look for history - a good financial history. But you want to advise Charles Awuzie to relocate from South Africa where he currently has his Financial histories. I already hold a black card here. I am a Private Wealth client already. But somehow, I should allow emotions and sentiments force me out of a system that has structured my life. You see why the wealth conscious people do not make emotional decisions. They do not go where it’s easy too. They have information which you do not have. The only f00lish thing I do is to share the information in public without charging money for it.

If you are smart, you would ask why Tony Elumelu advertises UBA but not UCAM. Jim Ovia advertised Zenith Bank but never advertised Quantum Zenith. And with Baba Bolaji Balogun - you probably never heard about him. But you know Cubana Chief Priest .
The reason wealth managers do not advertise so much is because their client base is driven by HISTORY, EDUCATION AND CONSCIOUSNESS. The public, especially Nigerians, do not have the financial history (most picked money from questionable sources) - no financial education (everyone with money buys big houses and big cars) and no wealth consciousness - you can’t build wealth without MENTORSHIP. Impossible. You can make money without a mentor but you can’t build wealth without one. When we say this, some of you don’t get it.
One day, you’ll not have me on facebook again but you will remember that you had someone who knew and understood systems and tried to open the eyes of more people however, they allowed hate and envy deny them the blessing of illumination.

ADESUWA said her company manages assets valued at about $80 Million, but many of you heard that she’s worth $80 Million. That’s an education gap. I’m filling that gap. In fact, ADESUWA’s company makes about $400k to max of $800k per annum. She will pay tax, salaries etc. Her salary per annum cannot be 30% of what the company makes. She lives a comfortable life because wealth managers are not supposed to live loud lives otherwise the asset owners will lose trust. Do you now understand better? Asset management is not a get rich quick scheme. Moderate lifestyle is a MUST. The Police etc you saw in that video were staged. Remember that police no longer provide security for VIPs in Nigeria. That was a massive PR campaign and I encourage ADESUWA to use this visibility to drive mass Financial Education. We need financial education in Nigeria otherwise we will keep blaming Tinubu for problems caused by our ignorance.