Once a rising name in South Africa’s investment landscape, Everest Wealth is now facing increasing scrutiny.
A growing number of users are raising various concerns. From delayed payouts to issues with Everest Wealth living annuity products, the complaints are piling up.
While there’s no official word of an Everest Wealth Management shutdown, the wave of feedback surrounding Everest Wealth Management South Africa has made investors uneasy.
Whether it’s frustration over lack of communication or transparency, many are starting to question what’s going on behind the scenes. In this TRU Insight, we’ll unpack everything you need to know about the growing Wealth Everest complaints in South Africa.
What is Everest Wealth Management? A Closer Look at the Company
About Everest Wealth: Year Founded, Assets and Clients
Everest Wealth is a Pretoria-based investment firm in South Africa known for its bold marketing and focus on alternative investments, including private equity and private debt.
Founded in 2002 and restructured in 2016, it now manages nearly R3 billion in assets and holds Category I and II FSCA licenses.
It has around 2,000 clients and a growing presence in the financial space, making it a key player in Everest Wealth investments.
Read more: Financial Advisors in South Africa: Should You Trust Them in 2025
Overview of the Everest Wealth Management and CEO
Ownership lies with Jarryd Gillmer and Ignatius Breytenbach, with Gillmer also leading the Everest Group. Thys van Zyl, the face of Everest Wealth Management South Africa, runs the management arm.
While Laudian Holdings manages its private equity arm, it operates independently despite having close ties.
Investment Products
Everest Wealth investments include three core offerings: Onyx Income+, Jade Strategic Growth, and the Strategic Income Portfolio. These three products are all tied to the Laudian private equity portfolio.
These portfolios offer targeted returns of 12.8% to 14.5% annually, with options like 27four’s Amethyst Living Annuity providing investors with a fixed annual income.
Issue About Backdated Returns
The firm drew attention after publishing a 2021 return history. Inside the report was a product clarified as illustrative data based on Laudian’s prior performance.
Concerns on Cashflow and Liquidity
Everest Wealth currently pays over R25 million monthly to investors. With this excessive client liability, the company needs substantial and consistent cash flow from its private equity assets.
Concerns have been raised around liquidity, operational costs, and delayed payouts, particularly in long-term products like Jade Strategic Growth
Underlying Investments
Details about the Laudian portfolio’s underlying investments remain a mystery. This raised a question among experienced investors.
Even if Everest Wealth claims that it still has consistent investors, it can’t escape the criticisms for its lack of disclosure.
Everest Wealth Regulation, License & FSCA Compliance in South Africa
Everest Wealth Management is a registered Financial Services in South Africa, operating under FSP number 795.
It holds Category I, II, and IIA licenses from the Financial Sector Conduct Authority (FSCA) to legally render a range of investment services.
While some users have raised concerns through platforms like Everest Wealth Hello Peter, it’s important to note that the firm has no reported regulatory violations or license revocations according to publicly available FSCA and SEC-type records.
However, since Everest Wealth operates primarily through private equity funds, it isn’t required to disclose as extensively as unit trusts. That factor is something worth noting when evaluating Everest Wealth investments.
Everest Wealth Reviews & Complaints: What Real Clients Are Saying
Everest Wealth currently has no reviews on HelloPeter. However, journalists at Moneyweb received several claims from concerned investors.
Everest Wealth investors reported concerns about unclear fund performance, delayed withdrawals, and limited transparency. There are also issues with insufficient updates on investments and unanswered questions about their living annuity products.
Although Everest Wealth hasn’t been officially shut down, the lack of clear accountability and scattered reviews suggest caution for potential investors in South Africa.
Learn the Fundamentals of Basic Financial Knowledge with TradeGeek
Above all the noise and reviews, here’s what truly separates hype from value in the world of brokers: financial literacy. It’s the one investment no one can take from you. And yes, that’s double meaning.
Want to continue mastering the forex market? Check out TradeGeek, an online trading education platform expertly crafted by expert traders to empower you with a more informed trading experience.
Everest Wealth FAQ
What is Everest Wealth Private Equity Strategy?
Everest Wealth invests in selected private companies with a focus on long-term growth. This strategy is effective in diversifying your portfolio through private equity investments.
What is Everest Wealth’s Approach to Private Debt?
They focus on secured private loans to stable businesses to offer alternative income and risk diversification.
Is Everest Wealth a Legit Investment Company?
Everest Wealth manages significant assets and serves clients in South Africa and the U.S., but mixed reviews and transparency issues suggest caution.
Can I file a complaint from Everest Wealth Management?
Yes, complaints can be submitted via the SEC Investor Complaint Form or relevant South African regulators.
If you are looking for faster dispute resolution, TRU DRS provides reliable support, and dedicates 10% of its profit for continuous effective operation.
You can file your complaint against shady brokers, advisors, and other service providers.
Conclusion: Is it risky to Invest in Everest Wealth
Several journalists and watchdog groups have rated Everest Wealth with a 7/10 risk rating.
Deciding whether to open an account with Everest Wealth requires assessing yourself—you should know what type of investor you are. If you stand in the middle ground of risks and potential opportunities, then perhaps you are Everest Wealth’s target market.
But if you are the type of person who values transparency, it’s wise to stray away from Everest Wealth.
Looking for clearer insight and a community vibe? Check out CommuniTrade!
It’s a platform where real investors share honest experiences with brokers and other financial service providers like Everest Wealth.