Top wealth managers in South Africa

PSG Wealth was awarded the Top Wealth Manager among large institutions at the 2023 Intellidex Top Private Banks and Wealth Managers Awards, while Centric Wealth Advisory was ranked first among boutique wealth managers.

This is the twelfth edition of the Intellidex Top Private Banks and Wealth Managers survey, which ranks wealth managers and private bankers on a range of products and services.

The research process involves a comprehensive questionnaire completed by participating banks and wealth managers and an online client survey.

The awards are based on various criteria, including client satisfaction levels, investment returns, value for money, and the likelihood of clients recommending the services to others.

According to the report, the Top Wealth Manager awards for large institutions and boutique firms are based 40% on the judges’ assessments of responses in the firm questionnaires and 60% on client ratings from the online survey. 

PSG Wealth has won the Top Wealth Manager: Large Institutions award every year since 2019. This year, PSG also won three of the six archetype awards in the wealth management category – lump-sum investor, executive, and retiree.

In 2023, Nedbank Private Wealth rose from third to second place on the ranking, while RMB Private Bank took the third spot after being fourth last year. 

Centric Wealth Advisory won the Top Wealth Manager award for boutiques for the second consecutive year in 2023. 

The firm also won the young professional and executive archetype awards and the People’s Choice award. 

Clients rate the firm highly: 90% rate the quality of service as excellent, and 88% give the same rating for the quality of the advice they receive. 

Brenthurst Wealth Management moved from third in 2022 to second place, while BDO Wealth Advisers surged from sixth to third. Sterling Wealth, a newcomer to the survey, took the fourth spot.

Top Wealth Managers: Large Institutions

InstitutionRankOut of 10 (Weighted)
PSG Wealth18.15
Nedbank Private Wealth27.63
RMB Private Bank37.61
Sanlam Private Wealth47.42
FNB Private Wealth57.39
Standard Bank Wealth and Investment67.26
Absa Wealth77.21

Top Wealth Managers: Boutiques

InstitutionRankOut of 10 (Weighted)
Centric Wealth Advisory18.51
Brenthurst Wealth Management28.25
BDO Wealth Advisers38.14
Sterling Wealth48.13
Efficient Wealth58.03


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