Sasfin Wealth’s 2024 Financial Year
A Year of Strong Growth and Strategic Progress.
A Year of Strong Growth and Strategic Progress.
Strong roots support a diversified global offering
Over the past 25 years, Sasfin Wealth has evolved from a JSE-focused private client stockbroker into a comprehensive wealth and asset management group. Today, we offer a wide array of advisory and broking services, alongside managed solutions for private, corporate, and institutional clients. Our global offering enables clients to access diversified investment opportunities across various asset classes and geographies, including offshore investments that help broaden their financial horizons.
When we think about our clients’ portfolios, we think about them in global terms.
In the past year, we have expanded our offerings by introducing private market solutions tailored for both private clients and institutions. For private clients, we launched a product that grants access to diversified local and global private equity opportunities without the typical long-term lock-ins, allowing investors to enter and exit investments with regular tradability.
For our institutional clients, we remain dedicated to addressing societal challenges, particularly unemployment and inequality in South Africa. Through our partnership with RBN Fund Managers, we secured a grant from the National Treasury’s Jobs Fund to further our impact in these areas.
Building success through People, Clients, and Purpose
At the heart of who we are is a deep commitment to our people, our clients, and society at large. By nurturing our talent, serving our clients with dedication, and contributing to the broader community, we ensure that success is shared and meaningful for all.
A key strength of Sasfin Wealth is the alignment of our interests with those of our clients. By serving them with care, diligence, and expertise, their success directly translates into our success. We are grateful for the continued trust of our clients and look forward to building on the long-term relationships that have formed the foundation of our business.
At the heart of our achievements are our people. We have consistently attracted and retained top talent in the industry, fostering a culture of integrity and excellence. A key pillar of our talent development strategy is our graduate program, which boasts an outstanding placement rate into permanent positions. Over the past several years, nearly 100% of our graduates have secured permanent roles, and all senior leadership appointments this year were filled through internal promotions.
Our commitment to Corporate Social Responsibility remains unwavering, exemplified through our partnerships with ORT SA, Afrika Tikkun, and Hospice Wits. Our people actively contribute their time and expertise, while also supporting fundraising initiatives, to help further the remarkable work these organisations are doing.
Our 2024 Financial Year Performance
FY24 marked another phase of growth, with an increase in clients and investment solutions. Our offshore offering, a core focus of the private client business, maintained its strong growth trajectory and delivery of robust returns for clients. Continued investment in our asset management business and team translated into increased interest by institutional investors.
The Wealth business delivered a strong financial performance during 2024, despite market volatility and concentration of performance around global technology companies, as well as the reputational risks facing the Group.
Total income grew 9% to R416 million while headline earnings grew 20% to R113 million.
Positioned for long-term success
As we look ahead, we are excited to continue our journey alongside our clients, people, and partners. We are particularly encouraged by the confidence expressed by our major shareholders, who have committed to further investment in Sasfin Wealth.
WIPHOLD, a leading women-owned investment company, and Unitas have reaffirmed their belief in our long-term success and will acquire an additional 17.4% stake in Sasfin Wealth.
Commenting on these developments, WIPHOLD Founder and Sasfin Wealth Board Chair, Gloria Serobe stated:
“I am delighted to have been appointed as the Sasfin Wealth Board Chair. The business has grown significantly over the last few years under exceptional management, and I am looking forward to helping take Sasfin Wealth to the next level. I thank Tienie Van Der Mescht for the leadership role he has played as Chair and am grateful that he will continue to serve as a director, chairing the Investment Oversight Committee in the period ahead. WIPHOLD has been working closely with the Sasfin team through its strategic reset, and we are pleased with the progress made, under difficult circumstances, over the last eighteen months. The Board and management of Sasfin have acted with integrity and diligence, and I am excited to work more closely with them in executing the next phase of the strategy.”
Building lasting partnerships for the future
We are privileged to cultivate multi-generational relationships with our clients, many of whom have been with us for decades. Our dedicated team, with their long tenure, reinforces the strength and stability of our business. These enduring relationships are the cornerstone of our success, reflecting our belief that investing is a long-term endeavour. Together, we look forward to securing a prosperous future for our stakeholders.
Watch the video below
I had the privilege of discussing Sasfin Wealth’s 2024 financial year and its exciting outlook with Gugu Dingaan, Investment Executive at WIPHOLD. Watch the video below to learn more:
Download the full report:
For a snapshot of who we are, what we’ve achieved, and where we’re headed, download the Sasfin Wealth 2024 Financial Year document.
