Top South African wealth manager firing on all cylinders

PSG Financial Services has delivered a strong set of results for its 2026 financial year, with all three of its operating segments reporting earnings growth of over 20%.

This allowed the asset manager to report a more than 30% increase in its headline earnings for the year.

PSG Financial Services formed part of the PSG Group, which was co-founded by billionaire businessman Jannie Mouton.

On Thursday, 16 April, PSG Financial Services released its results for the year through February 2026, which revealed a stellar performance.

The company’s core income grew by 22% to reach R8.28 billion, while its recurring and headline earnings shot up by 32% to R1.68 billion.

PSG Financial Services recorded a profit of R1.90 billion for the year, a 38% jump from the 2025 financial year.

The majority of the group’s earnings was derived from its Wealth division, which increased recurring headline earnings by 25% to R950.63 million.

The company attributed this growth to a continued increase in management and other recurring fees, as well as transactional brokerage fees.

PSG Financial Services’ client assets in the Wealth division increased by 17.3% to R480.9 billion, which included R24.9 billion of positive net inflows. 

The next-largest contributor to earnings was its Asset Management segment, which grew recurring headline earnings by a remarkable 59% to R472.78 million.

PSG Financial Services said this division’s results were impacted by higher performance fees and strong growth in management fees of 17.6%.

This segment’s client assets under management increased by 37.7% to R83.7 billion during the 2026 financial year, with net client inflows of R4.9 billion.

The third segment, PSG Insure, saw slightly slower but still strong growth in recurring headline earnings of 22% to reach R258.84 million.

PSG Financial Services described this segment’s results as “commendable”, saying they were mainly due to ongoing underwriting improvement initiatives. PSG Insure’s gross written premium amounted to R8.0 billion, marking a 5.0% increase.

It noted that the insurance business also benefited from a more favourable claims environment and an absence of catastrophe storms across the industry.

At a group level, PSG Financial Services’ total assets under management increased by 19.9% to R564.6 billion.

Looking forward, the company said it remains positive about its and South Africa’s long-term growth prospects.

“PSG remains optimistic regarding the ability of ordinary South Africans to engineer a better future for themselves and their families, and we are positive about a range of opportunities for the firm,” it said. 

“As such, we will continue to increase our investment in both technology and human resources at a rate roughly consistent with our long-term historical averages.”

PSG Financial Services declared a dividend of 65 cents per share, up 25% from the dividend it paid out in 2025.