Consolidated Wealth has announced that it has acquired the independent financial services company, J H Allen (JHA). The acquisition confirms Consolidated Wealth’s position as a market leading wealth management practice that is geared for growth.
“We are very excited to bring JHA on board as this business has an outstanding reputation, valuable industry expertise and resources that will enhance our ability to serve the needs of our clients and grow our business,” says Craig Kiggen , the Managing Director of Consolidated Wealth.
He explains that the acquisition has provided the opportunity to capitalise on the synergies between the two companies. “JHA brings a wealth of experience, including R300m in funds under advice as well as expertise in medical aid, GAP cover and short term insurance,” says Craig. “This acquisition further strengthens the extensive knowledge and breadth of services offered by Consolidated Wealth and we look forward to working with JHA’s clients.”
For more than 16 years, Consolidated Wealth’s award-winning advisory team has specialised in creating bespoke investment solutions and today, the company manages more than R2.7 billion for its clients across multiple financial categories. As a Category II licence holder, the company focusses on managing risk, mitigating costs and enabling diversification as well as the power of compounding to generate returns over time.
“As a starting point, JHA’s clients will be able to benefit from our scale and fees. The true advantage will however be found in the use of the discretionary licences that Consolidated Wealth holds with the FSCA. These allow for the implementation of bespoke investment solutions for our clients,” Craig explains. “In addition, we are able to offer JHA’s clients treasury solutions as we hold a FOREX dealing licence with the SARB, which allows our clients to buy FOREX that is conveniently and competitively priced in comparison to what they have been able to do in the past.”
Acquiring JHA has been the next step in Consolidated Wealth’s evolution and Craig says that it is an important part of the company’s initiatives to expand their portfolio and enable new opportunities and solutions in the marketplace.
“Consolidated Wealth’s planning, IT and compliance systems are scalable and provide an opportunity for Financial Planning businesses that are looking to provide an improved service to their clients, a home in which they can do this,” Craig adds.
The acquisition of JHA may be exciting news for Consolidated Wealth but Craig says the company’s focus remains growing and preserving the wealth of its clients: “Integrating Consolidated Wealth and JHA has been a seamless process as everyone is focussed on delivering the best advice, service excellence and competitive fees. Our goal has always been – and remains – growing and preserving the wealth of our clients so that they can achieve financial sustainability in the years to come.