Alexander Forbes wants to convince independent financial advisers to join its stable in a move that could see a huge consolidation of SA’s fractured financial planning industry and put PSG Konsult’s wealth advisory unit in its crosshairs.

SA’s biggest retirement fund administrator, which is in the final stages of exiting the insurance business, wants to double the R80bn in retail assets it manages via its 210 tied wealth advisers. CEO Dawie de Villiers hopes the group can achieve that over the next three years by buying out the franchises of independent financial advisers while building up its in-house adviser network with recruits...

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