Novare Wealth & Invest Launches to Address South Africa’s Complex Wealth Migration and Succession Crisis

Novare Holdings has announced the launch of Novare Wealth & Invest, a private client advisory division designed to apply institutional-grade investment rigour to the increasingly complex structural challenges facing South Africa’s affluent.

The move comes at a critical juncture for the local wealth market, as new data highlights a significant shift in the country's high-net-worth landscape.

According to the Africa Wealth Report 2025, South Africa has experienced a net loss of approximately 2,466 dollar millionaires over the last decade—a 6% decline driven by concerns over infrastructure, safety, and a search for more favourable tax regimes. Despite this contraction, the country remains Africa’s dominant wealth hub, home to over 41,100 millionaires who are increasingly seeking global diversification and cross-border wealth protection.

A Response to "Wealth Outflows" and Structural Risk
Novare Wealth & Invest enters the market with a "planning first" mandate, specifically targeting entrepreneurs and families whose assets span multiple jurisdictions or involve intricate trust and succession needs.

“For 25 years, Novare has managed money for pension funds and institutional investors who demand governance and long-term thinking,” says Ola Leepile, CEO of Novare Holdings. “Wealth & Invest brings that same discipline to private clients whose financial decisions are personal, generational, and often irreversible.”

The firm argues that for affluent individuals, the technical structure of wealth—including trust arrangements and liquidity positions—is now more critical to long-term survival than annual market performance. Industry trends suggest a high risk of "wealth erosion" across generations without formalised governance, particularly for the many entrepreneurs intending to exit their businesses within the next five years.

Institutional Rigour for Private Families
The new division leverages Novare’s institutional background, which includes managing assets for pension funds across sub-Saharan Africa and compiling the South Africa Annual Hedge Fund Survey. This background is being repurposed to address a specific "liquidity gap" that often forces the sale of family assets to settle estate duties or tax exposures.

Derrick Roper, Co-Founder of Novare Holdings, notes that strong investment returns remain vulnerable if the foundation is flawed. “Our view is that structure comes before growth. Without the right foundation—the right trust arrangements, the right succession plan, the right liquidity position at death—even strong investment returns are vulnerable over time.”

Highlighting the risk that many high-net-worth families face without realising it, Dr Theuns Mans, Managing Director of Novare Wealth & Invest, adds:

“A business owner can spend thirty years building something significant and still leave their family exposed at the point of transfer. A poorly structured trust, an outdated will, or a liquidity gap that forces the sale of assets to settle estate duty doesn't show up in a quarterly portfolio review. We have seen families lose more value to bad structuring than they ever recovered in market returns.”

Independent Oversight in a Fragmented Market
Positioned as a boutique alternative to large-scale retail banks, Novare Wealth & Invest operates under a model of structural independence:

• Advisers do not earn upfront commissions, removing the pressure to meet product placement quotas or favour in-house funds.
• The firm provides a "complete picture" for clients with existing multi-jurisdictional relationships, ensuring continuity during business sales or generational transfers.
• The firm maintains a restricted client base to preserve the depth of engagement required for complex planning.

As South African wealth becomes more internationally integrated and dynamic, the demand for sophisticated, cross-border wealth structuring is expected to rise. Novare Wealth & Invest intends to remain focused on this high-consequence segment of the market.