Independent, global thinking
Carmel Wealth is a privately owned wealth and investment company established in 2022 specifically to capitalise on the opportunity in the South African market for an independently owned and scaled wealth and asset management firm.
The group of founders comprises of both local and international investors, some with extensive experience in managing large scale financial services and asset management businesses. Carmel Wealth strongly subscribes to the principle of structural independence, ultimately benefitting advisors and clients alike, and supported by the notion that independent and objective advice with no compulsion to support a particular product provider or solution, invariably leads to more positive investment outcomes.
Carmel Wealth is actively acquiring established wealth management businesses and recruiting quality independent advisors and wealth managers. Wealth Associates – a well-established, independent, and reputable advisory firm with an 18-year-old track record, was the first such acquisition concluded in April 2023, as the start of its determined growth and acquisition strategy.
“We believe investors and their financial advisors will be well served by a completely independent wealth and asset management firm with a unique value proposition and an extensive network of wealth and asset management capabilities, both locally and abroad.”
Dr. Nico Marais, Chairman and Co-Founder, Carmel Wealth
A unique business model
Carmel Wealth is at the forefront of various global trends shaping the financial planning and wealth management landscape, including the shift in investor behaviour towards tailored and managed solutions and the ever-increasing importance of technology and compliance as competitive enablers and risk mitigating tools.
We provide a platform for established advisors and wealth managers seeking to leverage our compelling business model. First and foremost, we operate independently, enabling us to prioritise our clients’ interests by delivering impartial advice, devoid of influence from specific product providers. In addition, advisors immediately become ordinary shareholders, sharing in the overall success of the business, across a variety of businesses and brands in the Carmel Wealth Group. We also have a strong global focus, leveraging our extensive global networks to collaborate with global asset managers to offer unique product solutions to the South African market.
Carmel Wealth upholds a strong set of values and principles, follows a client-first approach and offers advisors a professional environment for growth and collaboration.
“The vision is to create a structurally independent, advice-driven wealth and asset management firm. Independence remains a critical differentiating factor in an era where clients demand a wider range of choice and objective advice. We will leverage our extensive international networks to deliver best in class solutions to those who partner with us.”
Hans de Nysschen, Group Chief Executive Officer, Carmel Wealth
Board of directors
There is a wealth of knowledge in our business. Our Board of Directors has extensive local and global experience and networks in asset and wealth management and provides strategic direction on the acquisition and integration of additional wealth management businesses, as well as enhancing and expanding our local and global investment capabilities.
Dr Nico Marais
Chairman & Co-Founder
Nico is a founder member and Chairman of Carmel Wealth (Pty) Ltd. Nico’s impressive career in Financial Services commenced in 1989 and he has held key executive positions in several international financial services companies including Barclays Global Investors (Head of Active Equity Europe), BlackRock (Global Head of Portfolio Management Active Allocation), Schroders (Global Head of Multi-Asset Investments and Portfolio Solutions) and Wells Fargo Asset Management where he was President and then CEO.
Blake Grossman
Non-Executive Director
Blake has extensive experience in managing international businesses where amongst other executive positions, he assumed the role of CEO of Barclays Global Investors as well as Vice Chairman of BlackRock. Blake will be a non-executive director and brings a wealth of international knowledge and experience to the Board of Carmel Wealth.
Dr Manas Bapela
Non-Executive Director
Manas holds a Doctorate Degree in Mathematics and has over 20 years’ experience in the South African asset management industry where he has fulfilled various roles including that of Head of Multi-Asset Class Products and Chief Investment Officer; he is currently the Chief Executive Officer of Argon Asset Management. He also serves on various industry committees and boards.
Hans de Nysschen
Chief Executive Officer
Hans is an accountant with more than 25 years of experience spanning financial services disciplines such as mergers and acquisitions, insurance, investments, wealth management, private equity, and venture capital. He is a seasoned financial services professional and has served as full-time executive, independent director, shareholder, investor and advisor at many organisations including ABSA Corporate & Merchant Bank, PSG Konsult and the Remgro Groups.
Theoniel McDonald
Head of Financial Planning
Theoniel has been a wealth manager for more than 20 years. He has held various leadership positions, including Managing Director of Wealth Associates Central and Wealth Associates Fiduciary Services and also served on the main board of Wealth Associates. Theoniel has been a member of the Financial Intermediary Association of South Africa since 2014 and has served as the Vice President of the organisation from 2021 to 2023. He holds a Post Graduate Diploma in Financial Planning (UFS) and an MBA (UFS). Theoniel was recently appointed to the Board of Carmel Wealth and will look after the interests of minority shareholders.
Press statements
Carmel Wealth Continues to Leverage Unique Value Proposition for IFAS with Three Acquisitions Announced
Johannesburg, South Africa – 04 November 2024 – Carmel Wealth PTY Ltd, a leading investment holding company in wealth and risk management, is proud to announce three new transactions concluded with independent financial advisors (IFAs) who have recognised the value Carmel can bring to their succession and growth plans. These investments underscore
Contact us
- 021 204 5680
- Block E Second Floor, De Wagenweg Office Park, Stellentia Street, Stellenbosch, 7600