FINANCE: Equinox To Wave The PSG Konsult Flag
Recent Western Cape Business News
Equinox, the well-known online unit trust trading platform, is in future to do business under the Stellenbosh-based PSG Konsult banner. This follows a transaction between the two financial services providers effective from 1 May 2011, which have already received the green light from the Financial Services Board.
Equinox, a pioneer in online trading in unit trusts since 1999, provides an electronic trading platform for individual investors, as well as enabling investment advisers to manage portfolios on behalf of clients.
The transaction adds about 9 000 clients with assets under management of about R1,9 billion to the PSG Konsult group’s client base.
Equinox clients and investment advisers will now be supported and serviced by PSG Online and PSG Asset Management (PSGAM) respectively, both subsidiaries of PSG Konsult.
PSG Asset Management CEO, Wayne Waldeck, said Equinox will make an important technological contribution to our own platforms, as well as provide critical mass and economic scale benefits. It will also provide us access to additional products.
PSG Konsult CEO, Willem Theron, said the transaction provides PSG Konsult with an ideal opportunity to give more impetus to its three brands.
“While it provides PSG Asset Management with critical mass and scale benefits, it also offers PSG Online with ideal opportunities for the future. It also provides opportunities for PSG Konsult’s financial planning activities.
“Equinox is considered a leader in the online trading of unit trusts and provides extensive expertise in this regard. PSG Online on the other hand has established know-how in the online trading of shares, short-term and life insurance and other investments products. The two platforms will in future play a major role in PSG Konsult’s online offering of financial services to clients.
“The transaction makes good sense and is a further step to provide new and existing PSG Konsult clients with a comprehensive and quality service offering.
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