PSG Konsult introduces online platform

Willem Theron

PSG Konsult, the independent provider of financial services, has established a new all-inclusive online financial services transacting platform within the greater PSG Group, it was announced today at a media briefing in Johannesburg.

The company’s online initiative is considered a first in South Africa, as it provides the public with a single electronic gateway to all of PSG Konsult’s financial services. It includes share trading, short-term insurance, investments and financial planning on an all-inclusive web site.

The initiative will be housed in PSG Online, a full subsidiary of PSG Konsult, which, up to now, functioned purely as a share trading platform. PSG Online has now been extended considerably to also incorporate all other financial services and products, enabling clients to trade, invest, insure and plan online.

PSG Konsult CEO, Willem Theron, said at the media briefing the company will remain one of the foremost independent providers of financial services in the country. The electronic distribution channel is supplementary to the existing model, consisting of more than 600 financial planners and brokers.

“With this, PSG Konsult would like to create more room for those who aspire to manage their own financial affairs electronically. There are however certain services and products, such as commercial short-term insurance and trust- and estate planning, which does not necessarily lend itself effectively to electronic platforms.

“These services and products will still be provided through the company’s traditional business model, with the financial planner and broker rendering advice. In fact, it is expected that the online platform will serve as an important source of clients to the company’s network of financial planners, brokers and professionals.

“An online client will occasionally need the personal assistance of a planner or broker. This means that PSG Online and the planners and brokers will supplement each other, Theron said.

John Vorster, previously Director of trading operations at PSG Online and now chief executive of the company’s online initiatives, said there is currently about 5 million South Africans regularly making use of the internet.

“These are mainly people in the higher income group, with assets and the ability to make use of these kinds of services. Of these about a million people make use on internet banking services and manage an internet banking account. It is particularly this group that PSG Online will be targeting.

“If PSG Konsult’s existing client base is taken into account, there is considerable room for PSG Online to extend its operations and to grow its client base. Broadband internet access is also now becoming a reality that will provide for further growth”.

A marketing campaign for the introduction of the new PSG Online offering has kicked off earlier this week. The PSG Online web site can be visited at http://www.psgonline.co.za/.