South African executive Dawie de Villiers steers Alexforbes to $44 billion in assets

South African executive Dawie de Villiers is overseeing a steady expansion at Alexforbes as the Johannesburg-based financial services group reported assets under management and administration of R733.2 billion ($44.4 billion) for the year ended March 31, 2026. The figure reflects a 22 percent increase over the prior year, supported by stronger inflows and improved investment performance across key parts of the business.

The group said total closing assets rose in step with firm demand for its platform and retail offerings, even as parts of the business faced uneven conditions. Its umbrella fund ended the year with assets under management of R197.7 billion ($11.97 billion), while retail assets under advice climbed 17 percent to R131 billion ($8 billion). Retail assets under management and administration increased 21 percent to R112.3 billion ($6.8 billion), driven by new business that rose 39 percent to R36.5 billion ($2.21 billion). 

Institutional flows remain steady

The company said institutional flows also remained steady over the period. The investment business benefited from supportive market conditions and fresh mandates, but the health consulting unit came under pressure from pricing competition and the loss of some contracts. Advisory operations also fell short of internal expectations, reflecting a tougher operating environment in parts of the sector. 

Alexforbes highlighted continued investment in its retail platform, including upgrades to digital systems and expansion of its adviser network, which grew to 315 advisers by year-end. The group said these changes improved service delivery and helped maintain client activity, even as the broader industry adjusted to regulatory changes such as the two-pot retirement reform.

Operational discipline remained a key focus. Technology spending was directed toward modernizing internal systems, with management saying the upgrades are beginning to show results in efficiency and client servicing. External recognition also supported the year’s performance, with the group receiving honors at the Raging Bull Awards, including South African Manager of the Year and Best South African Interest-Bearing Fund on a risk-adjusted basis.

Normalized profit rises 22 percent

Financial results showed normalized profit rose 22 percent, while annualized institutional new business revenue increased 27 percent to R184 million ($11.14 million). Headline earnings per share from total operations declined 5 percent to R0.67 ($0.041), while normalized headline earnings per share were unchanged at R0.69 ($0.042). The board declared a final cash dividend of R0.33 ($0.015), bringing the total annual payout to R0.57 ($0.03), up 4 percent year on year.

“This has been another solid year for Alexforbes,” De Villiers said. “We delivered growth in operating income and improved profit while keeping the balance sheet stable and retaining clients. A lot of this comes down to consistent execution and clearer accountability across the business. We are also working to get closer to clients and make sure advice remains central to what we do.”

Three-year internal operational overhaul underway

Under De Villiers, who has led the group since 2018, Alexforbes continues to position itself as a broader financial services firm offering retirement consulting, investment management, employee benefits, and independent financial advice. The company manages more than $44 billion in assets and remains focused on long-term savings and advisory services for both individuals and corporate clients.

The group is also pursuing a three-year internal program aimed at strengthening its position with investors in South Africa. Rather than a marketing effort, management describes it as an operating shift designed to improve client retention, increase quality inflows and deepen engagement across its platform and institutional businesses. Early signs of progress are visible in steady institutional flows and continued retail growth.

At the same time, Alexforbes is introducing artificial intelligence tools in a controlled way, anchored on Microsoft Copilot within its existing systems. Management said the approach is focused on compliance, data security, and auditability while supporting productivity and decision-making across teams.