Consolidated Wealth acquires 100 percent of JH Allen

The company now manages R3 billion for clients across multiple financial industries.

Independent wealth management firm Consolidated Wealth has acquired 100 percent of Durban-based financial services company JH Allen (JHA). Details of the purchase are unknown, but the acquisition has increased Consolidated Wealth’s position as a leader in investment solutions and wealth management.

Consolidated Wealth manages more than R2.7 billion for its clients across multiple financial categories and is a Category II licence holder. The company focuses on managing risk, mitigating costs, and enabling diversification.

“JHA brings a wealth of experience, including R300 million in funds under advice as well as expertise in medical aid, gap cover and short-term insurance,” said Consolidated Wealth MD Craig Kiggen.

“As a starting point, JHA’s clients will be able to benefit from our scale and fees,” explained Craig. “The true advantage will, however, be found in the use of the discretionary licences that Consolidated Wealth holds with the FSCA.”

JHA’s clients will now be able to access treasury solutions that are more convenient and competitive thanks to Consolidated Wealth’s forex dealing licence with the SARB.