Alexforbes

What Alexforbes does

Alexforbes is a South African investment management and financial services firm founded in 1905, headquartered in Johannesburg, and operating with R733 billion in assets under management and administration as of the FY2026 reporting period. The company serves two primary customer segments: institutional clients (including JSE Top 100 corporates served via subsidiaries CoreSolutions and Granate Asset Management) and retail clients served through both financial advisers and a direct digital platform (AF Connect). Its product portfolio spans retirement solutions (Living Annuity, Retirement Annuity, Preservation Fund), discretionary investments (Investment Plan, Tax-Free Savings Account), international diversification (Global Wealth Builder), and a social-investing product (Crowdvest), with member engagement layers such as AF Rewards and the Paragon Impact platform.

The underlying technology stack is a hybrid digital-and-adviser platform with API-accessible product data, Morningstar benchmarking and research integration, and a newly formalised AI capability deployed across client servicing, analytics, risk management, and operations under explicit governance. Distribution is multi-channel: product-led via AF Connect and Crowdvest for retail self-directed flows, and sales-led via a financial adviser network for advised retail and institutional mandates.

The business model is asset-based: revenue is generated primarily through management and administration fees on R733B AUM, with disclosed annualised institutional new business revenue of R184 million (up 27% year-over-year) and retail new business flows of R36.5 billion (up 39%) as proxies for top-line momentum. CoreSolutions and Granate Asset Management provide additional institutional capability and investment specialisation, while partnerships (notably Morningstar) underpin research and benchmarking infrastructure. The model benefits from the inherent stickiness of retirement products, where early withdrawal penalties and tax frictions create switching costs that protect the recurring AUM base.

Name

Alexforbes

Legal name

Alexander Forbes

Website

https://alexforbes.com

Company type

Private

Founded year

1905

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Alexforbes is a South African investment management firm founded in 1905, managing R733 billion in assets across retirement, investment, and social-investing products for retail and institutional clients via digital and advisers.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Managed Platforms & Wrap Programs for Private Clients (Model Portfolios, UMA/SMAs) (FSAAABAM)

akta.pro secondary industries

Private Client/High-Net-Worth Advisory (FSAEAAAN), Workplace Wealth & Employee Investing Programs (FSAAAAAK)

Keywords

• Retirement fund management
• Investment management
• Financial advisory
• Wealth management
• Living annuities

Headquarters

HQ city

Sandown

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Alexforbes generates revenue through management fees on assets under management and administration. The company reported R733 billion in assets under management and administration as of March 2026, with 22% growth year-over-year.
2. Living Annuities: Post-retirement investment products that provide income from retirement savings, offered as part of the retirement planning suite.
3. Retirement Annuities: Tax-advantaged retirement savings vehicles for individuals planning for retirement.
4. Preservation Funds: Products allowing individuals to preserve their retirement savings when changing employers.
5. Tax-Free Savings Accounts: Investment accounts offering tax-free growth on savings within regulatory limits.
6. Discretionary Investment Plans: Flexible investment products including monthly contributions, lump sum investments, and target-based investing.
7. Institutional New Business: Revenue from institutional clients including JSE Top 100 companies, with 27% growth in annualised institutional new business revenue to R184 million.
8. Retail New Business: Retail investor flows including living annuities and investment products, with 39% growth in retail new business flows to R36.5 billion.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Alexforbes is a South African investment management and financial advisory firm offering retirement, investment, and wealth solutions to institutional and individual clients. The firm manages over R733 billion in assets under management and provides a suite of products including living annuities, retirement annuities, preservation funds, tax-free savings accounts, and discretionary investment plans, delivered through financial advisors and digital platforms.

Product overview

Alexforbes is a South African financial services and investment company offering a comprehensive suite of retirement and investment products through both its Alexforbes Invest online platform and financial adviser channels. The core portfolio includes Living Annuity, Retirement Annuity, and Preservation Fund for retirement planning, complemented by discretionary investment products such as Global Wealth Builder, Tax-Free Savings Account, Investment Plan, and the innovative Crowdvest crowdfunding platform. Client access is provided through the AF Connect secure portal, while the AF Rewards program offers additional value through partner discounts. Investment management is delivered via a curated selection of funds managed by CoreSolutions (Cautious, Stable, Moderate, and Aggressive funds) and Granate Asset Management (AF Superior Yield Unit Trust), with the Global Wealth Builder providing access to international equity markets through the AF Global Passive Growth Fund of Funds.

Differentiator

Problem solved

Functional benefit

Brands

• AF Superior Yield Unit Trust: Investment fund for 1-year investment horizon
• AF Global Passive Growth Fund of Funds
• Crowdvest
• AF Connect
• AF Rewards
• Paragon Impact
• Global Wealth Builder

Products and services

• Living Annuity

Quantifiable outcome

• 22% growth in normalised profit year-over-year
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

One partnership is on record.

• CoreSolutionscoreTechnology or IntegrationCoreSolutions manages four dedicated investment funds for Alexforbes, using over 120 years of market experience to build a small range of highly-efficient, diversified investment options.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ninety One: Dual-listed (JSE and LSE) South African-headquartered asset manager serving institutional and retail clients globally. Comparable in offering multi-asset portfolios, retirement solutions, and serving similar institutional clients, though with a larger international footprint than Alexforbes.
• Sygnia: JSE-listed South African investment management and administration platform with a strong low-cost, index-tracking proposition. Directly competes with Alexforbes in retail retirement and discretionary investment products, particularly on fee competitiveness and digital UX.
• EasyEquities (Purple Group): South African digital investment platform offering low-cost, self-directed access to local and global ETFs, shares, and unit trusts. Comparable to Alexforbes in targeting retail investors via a digital-first model, with overlapping discretionary and tax-free savings offerings.
• Allan Gray: One of South Africa's largest privately-held investment management firms offering unit trusts, retirement, and discretionary portfolio products. Directly comparable to Alexforbes in target market, product suite (living annuities, retirement annuities, preservation funds), and adviser-led distribution model.
• Coronation Fund Managers: JSE-listed South African asset manager offering institutional and retail investment products across multiple asset classes. Directly competes with Alexforbes in the institutional retirement and retail fund management space, with similar institutional client base including JSE-listed corporates.

Broad incumbents

• Momentum Investments: South African investment and retirement provider, part of Momentum Metropolitan Holdings. Offers unit trusts, retirement annuities, preservation funds, and institutional investment products comparable to Alexforbes, with distribution via advisers and direct channels.
• Sanlam Investments: Investment arm of one of SA's largest financial services groups, offering unit trusts, retirement products, and institutional asset management. Overlaps substantially with Alexforbes in product suite and institutional client base, though as part of a much broader insurance and wealth conglomerate.
• Discovery Invest: South African investment and long-term insurance provider linked to Discovery's broader health and life insurance ecosystem. Comparable to Alexforbes in offering retirement annuities and goal-based investment products, particularly through behavioural-incentive structures.
• Old Mutual Investment Group: Large South African financial services group with a comprehensive wealth and investment management arm offering retirement annuities, unit trusts, and institutional mandates. Overlaps with Alexforbes in retirement and wealth products but operates as part of a broader life insurance and banking conglomerate.

Emerging players

• 10X Investments: South African low-cost, index-tracking investment manager with a strong digital proposition targeting cost-conscious retail investors. Overlaps with Alexforbes on retirement and discretionary investment products but competes primarily on fee compression and passive strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/alexforbes
• LinkedInlinkedin.com/company/alexforbesofficial
• Facebookfacebook.com/alexforbesofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alexforbes