30/05/2024

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Intellidex awards: PSG Wealth, Centric come out tops

Intellidex awards: PSG Wealth, Centric come out tops

Investment firm PSG Wealth and Centric Wealth Advisory retained their titles as the country’s top wealth managers in the 12th edition of the Intellidex Top Private and Wealth Managers survey.

PSG Wealth took the title of the best wealth manager in the large institution segment. With R305.5 billion assets under management as at the end of February 2023, it also scooped three of the six archetype awards in the wealth management category, including Lump-Sum Investor, Executive, and Retiree.

Nedbank Private Wealth and RMB Private Bank ranked second and third in the best large wealth manager category, respectively, with both ascending one ranking from 2022.

Centric Wealth Advisory emerged as the winner in the boutique wealth management category, taking the title for the second consecutive year. Centric also won the Best Young Professional and Executive Archetype awards and the People’s Choice award.

Read: Raging Bull Awards: PSG overtakes Ninety One as SA’s best asset manager

Nedbank Private Wealth was named South Africa’s top private bank in the report, up from last year’s fifth spot.

One client lauded it for offering valuable services and helping them navigate the complexity of their portfolio.

Second place in the category was awarded to Standard Bank Private Banking, chronologically followed by RMB Private Bank, FNB Private Wealth, and Absa Private Wealth Banking.

The awards culminate in a survey conducted by Intellidex, which tracks and assesses South Africa’s private banking and wealth management industry. The results stemmed from bank and wealth manager firms and 11 788 of their clients’ feedback and ratings.

Wealth Management Archetype Awards

Lump-Sum Investor: PSG Wealth

Young Professional: Centric Wealth Advisory

Entrepreneur: Centric Wealth Advisory

Executive: PSG Wealth

Wealth Family: Nedbank Private Wealth

Private Banking Archetype Awards

Lump-Sum Investor: Standard Bank Private Banking

Young Professional: Nedbank Private Wealth

Entrepreneur: RMB Private Bank

Executive: FNB Private Bank

Retiree: Nedbank Private Wealth