Alexforbes acquires OUTvest

Back to Money advice
8 November 2023

Questions answered about exciting recent developments, as leading Financial Services group, JSE listed Alexforbes, acquires 100% of OUTvest.

We are pleased to announce that Alexforbes has concluded a binding agreement with OUTsurance Holdings Limited to acquire OUTvest subject to regulatory approvals and other conditions. We expect the transaction to be finalised in the coming months.

Alexforbes is a leading South African financial services group that provides individuals, employers and retirement funds with integrated and independent advice, investment, healthcare and employee benefit solutions. Alexforbes is over 80 years old and has more than 1.3 million members under administration and over R450 billion in assets under management.

Alexforbes shares our passion for trustworthy advice, products and awesome client service and it gives us great comfort knowing that your interests are top of mind in this transaction.

Danie Matthee, CEO of OUTsurance, states: “Alexforbes is a significant player with a strong track record in the South African investment landscape. We are confident that a business of this stature will be a good fit for the OUTvest investment platform to ensure its full potential is realised.”

  • When will the transaction be completed?

We expect the deal to be completed within the next few months depending on regulatory approvals and other conditions. 

  • What will happen to my OUTvest investments?

There will be no immediate changes to your investments, and you don’t need to do anything at all. Over time our expectation is that you will have even more investment options than you did before, and we will be working hard to bring new products and services onboard.

  • Will I still be able to transact as I do on my OUTvest online profile?

You will still be able to log in to your account either via the web or app and transact as you have been doing. Once you have logged in to your online client portal all your transaction options, access and current information will remain the same.

  • Why has Alexforbes bought OUTvest?

OUTvest is a leading-edge digital wealth platform with incredibly talented people behind the scenes. The acquisition accelerates Alexforbes’s digital journey and supports their strategy of transforming into the most impactful provider of advice to retirement fund members. It will unlock the ability of their advisers to serve more members, across more investment needs more efficiently.

  • Will OUTvest be run separately?

No, the team will form part of the Alexforbes group.

  • Why did OUTsurance sell OUTvest?

OUTvest (PTY) Ltd is a wholly owned subsidiary of OUTsurance Holdings Limited (“OUTsurance”) and part of the JSE Listed company OUTsurance Group Limited. In the pursuit of furthering value for their shareholders, OUTsurance made the decision to focus on its core short-term insurance business and as such set out to find a suitable home for the OUTvest business that would protect the interests of existing clients and staff of OUTvest. 

  • Who can I speak to regarding more information relating to the transaction?

You can contact us directly on 0860 688 837 and one of our skilled advisors will be happy to address any further questions that you might have pertaining to the sale transaction.

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