African Rainbow Capital announces investment in specialist financial services company Capital Legacy

African Rainbow Capital announces investment in specialist financial services company Capital Legacy

Johannesburg, 6 August 2019: Empowerment investment holding company African Rainbow Capital (ARC) today announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed consideration.

Capital Legacy is a major player in will drafting and estate administration. Operating since 2012, the company has identified improved, efficient and cost-effective solutions to will drafting, estate planning and execution.

These solutions are significant in a South African context where only 1 in 4 people has a valid will in place at death. Inefficiencies in estate planning could result in as much as 30% of the value of the estate being used to cover costs. Furthermore, execution could take years and not months to conclude in the absence of adequate planning. This poses several financial risks to the dependants of the deceased. These include financial concerns, such as a lack of liquidity to settle debts, estate taxes and other legislated costs relating to the administration of the estate.

For example, if a person dies intestate (without a valid will in place) with minor dependants, those inheritances may either be reduced to cash and transferred to the Government’s Guardian’s Fund or transferred to the minors’ appointed guardians – as opposed to what the deceased originally intended. In addition, the estate is distributed according to the laws of intestacy and the specific regulations thereof.

Capital Legacy founder and CEO Alex Simeonides comments:

“When I was a financial advisor, I tried and tested several providers of fiduciary services to get wills drafted for my clients, with little or no success or sense of comfort. In one instance a client passed on and I personally had to translate the industry standard fee of 3,5% of gross assets into a rand value for a grieving widow and then ask her to settle the fee. This experience made me realise there had to be a different, easier and more honourable way to serve clients.

 “In the South African context, where access to wealth and preservation of wealth are real issues in our national discourse, one has to be aware that the real cost of dying is what may financially devastate those left behind.”

Capital Legacy offers the services and expertise required to provide the planning and documentation every individual needs to ensure his or her assets are dealt with properly and efficiently after death. This role  ̶  referred to as a fiduciary responsibility  ̶  covers estate planning, financial planning to provide funds for costs arising upon death, and estate and trust administration.

Professionals with both legal and financial knowledge advise clients about their unique needs, such as whether to include provision for a testamentary trust in their will, and what costs their estate is likely to be liable for one day. In addition to the legal advice provided, Capital Legacy offers financial solutions to specifically make provision for the potential impact of legislated costs associated with an estate.

Alex comments further:

“Since inception in 2012, Capital Legacy has drafted more than 200 000 wills. The number of South Africans who do not have a will still exceeds those who do. Thus far we have demonstrated that our business is uniquely positioned to offer ordinary people a service from which they can benefit significantly. Our solutions are geared towards effectively managing legislated costs associated with an estate.

 “We are inspired by the opportunity to assist millions of ordinary South Africans with the financial planning that is needed. Working with over 4 000 contracted brokers, Capital Legacy can reach many more individuals to educate them about the need to have a valid will and plan properly. Currently, we assist more than 5 000 individuals per month with the drafting of their wills. Our experienced estate administrators also facilitate the successful transfer of assets from the estate to those due to inherit, thus assisting the families of people who have passed away.”

The transaction allows ARC to complement its existing financial services investments and facilitate synergistic opportunities between Capital Legacy and companies in which ARC is invested. Capital Legacy stands to benefit from ARC’s empowerment status as it will improve its own empowerment rating. This is likely to result in Capital Legacy drawing more business flows and therefore improving its overall business success.

ARC co-CEO, Johan van der Merwe, comments:

“ARC sees Capital Legacy as a business with great potential in the space in which it operates as its services have broad appeal for so many South Africans in all market segments. Capital Legacy is a solid business and it makes an important difference in the lives of South Africans, which is an ethos that resonates well with ARC. We have great confidence in the Capital Legacy management to meet their business objectives over the longer term.

 “ARC has already made investments in more than 45 businesses to the value of more than R9 billion. We see synergistic opportunities between some of our existing investments in the financial services sector that would afford all role players growth opportunities.”

Alex concludes:

“This investment by African Rainbow Capital marks a milestone for Capital Legacy – one that inspires us for the future. Attracting the interest and capital of an investment and empowerment leader like ARC is a significant boost for our business. It will add to our positioning as the most credible provider of various financial products in the estate administration sphere.”

Capital Legacy manages both the assets of deceased individuals at the time of their death, as well as assets bequeathed through trusts. The company complies with the Treating Customers Fairly guidelines of the Financial Advisory Intermediary Services Act.

-ENDS-

Statement issued on behalf of Capital Legacy and African Rainbow Capital.

 Contact details for queries: qanda@capitallegacy.co.za

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ARC acquires 25% stake in Capital Legacy
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Last week, our CEO Alex Simeonides was interviewed by Aneesa Razack on PowerFM in response to the announcement of African Rainbow Capital (ARC). The interview touches on the growth potential of the material financial investment, how Capital Legacy can simplify the conversation on estate planning and meet the consumer where they are, as well as what the support of ARC means for Capital Legacy’s mission to reform the Fiduciary Industry.

Motsepe’s ARC extends its reach

Patrice Motsepe’s African Rainbow Capital (ARC) has bought a 25% stake in estate planning company Capital Legacy, which specialises in will drafting and estate administration. With this acquisition, the investment company will be completing its participation in the entire financial services value chain.

Billionaire Patrice Motsepe’s Investment Firm Acquires Stake In Capital Legacy

Patrice Motsepe’s African Rainbow Capital (ARC) has acquired a 25% stake in Capital Legacy, a South African company that specializes in estate administration.

In May this year, ARC, a Johannesburg Securities Exchange-listed investment firm, announced that it had more than $50 million to spend on acquisitions in the financial services sector.

African Rainbow Capital announces new financial services investment

Empowerment investment holding company African Rainbow Capital (ARC) announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed consideration.

African Rainbow Capital

South African-based African Rainbow Capital (ARC) has acquired a 25 per cent shareholding in specialist financial services firm Capital Legacy for an undisclosed consideration.

Capital Legacy is a company that specialises in will drafting and estate administration. The acquisition means that ARC, an investment firm owned by Patrice Motsepe, will complete its participation in the entire financial services value chain.

ARC acquires 25% shareholding in Capital Legacy

Our CEO, Alex Simeonides, was interviewed on CNBC Africa, regarding the investment made by African Rainbow Capital.
African Rainbow Capital has acquired a 25 per cent shareholding in Capital Legacy a financial services firm. The firm specialises in will drafting and estate administration.

Patrice Motsepe’s African Rainbow Capital (ARC) buys 25% of Capital Legacy

Our CEO, Alex Simeonides, was interviewed by Bruce Whitfield on The Money Show on 702, regarding the recent material investment made by African Rainbow Capital into Capital Legacy.

African Rainbow Capital announces investment in specialist financial services company Capital Legacy

Empowerment investment holding company African Rainbow Capital (ARC) today announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed consideration.

Patrice Motsepe’s ARC buys stake in estate planning company Capital Legacy

African Rainbow Capital has recently bought a 25% shareholding in the estate planning company, Capital Legacy.

Motsepe’s African Rainbow Capital acquires 25% stake in estate planning firm

Billionaire Patrice Motsepe’s empowerment investment holding company African Rainbow Capital on Tuesday announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed amount.

African Rainbow Capital invests in financial services firm

Empowerment investment holding company African Rainbow Capital (ARC) has acquired a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed consideration. Please follow this link to read the article:

African Rainbow Capital invests in will drafting company Capital Legacy

African Rainbow Capital (ARC) on Tuesday (6 August) announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed fee. Please follow this link to read the complete article:

African Rainbow Capital invests in will drafting company Capital Legacy

African Rainbow Capital (ARC) on Tuesday (6 August) announced its acquisition of a 25% shareholding in specialist financial services firm Capital Legacy for an undisclosed fee. Please follow the link to read the article.

This article is also available on MyBroadband

African Rainbow Capital to Buy 25% Stake in Capital Legacy

Patrice Motsepe’s African Rainbow Capital (ARC) takes 25% stake in Capital Legacy

Tyd vir testamente, sê Patrice

Die beleggingsmaatskappy African Rainbow Capital (ARC), waarvan die miljardêr Patrice Motsepe die voorsitter is, het besluit om ‘n groot belang in ‘n maatskappy te koop wat boedelbeplanning doen.

Motsepe’s ARC buys stake in Capital Legacy.

Patrice Motsepe’s African Rainbow Capital (ARC) has bought a 25% stake in estate planning company Capital Legacy, which specialises in will drafting and estate administration. With this acquisition, the investment company will be completing its participation in the entire financial services value chain.

This article is featured in both the Final Edition as well as the Late Edition on 7 August 2019.

ARC acquires stake in Capital Legacy.

Empowerment investment holding company African Rainbow Capital (ARC) has announced the acquisition of a 25 per cent stake in specialist financial services firm Capital legacy, which it said would complement its existing financial services investments and facilitate synergistic opportunities.

This article is featured in The Mercury, The Star, Pretoria News and Cape Times on 7 August 2019.

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I find that they are a caring company! They really go out of their way to give great service, like sending their consultants across the country to see clients to do their Wills. More important is when our client passed they appoint a caring case manager and will AGAIN go and see the families / beneficiaries to assist with explaining the process, completing forms and gathering info.

Financial Advisor regarding a Consultant

I have to congratulate you on your service – my client was so impressed with you and the way you explained the product.

Financial Advisor regarding a Consultant

The client said that the appointment was most pleasant and very informative.

Financial Advisor regarding a Consultant

The client is very happy with the A-class service and advice he received. Thank you.

Financial Advisor regarding a Consultant

Thank you so much for your prompt assistance and fantastic service. I appreciate your letter. I will definitely contact you in the future.

Received from a Client

I learnt so much in my joint call with him, he is a pleasure to work with.

Financial Advisor regarding a Consultant

Thank you so much for the excellent and quick way that you have handled this matter. I really, really appreciate it.

Quote from Independent Financial Advisor, Certified Financial Planner® and surviving Husband

Keep up the brilliant work and Capital Legacy should be really lucky to have you on board as it is very hard to find good efficient customer service and the turnaround time you did this in was phenomenal. Thank you so much once again.

Received from a Client

Dear Deenisha and co. Thank you for all your help with the estate of our Father. You have made the process as bearable as possible through all your efforts.

Message attached to a bouquet of flowers and delivered to our offices from the family who had recently lost a loved one

The client is very happy with the A-class service and advice he received. Thank you.

Financial Advisor regarding a Consultant

She is so friendly and extremely knowledgeable. An absolute pleasure to deal with.

Financial Advisor regarding Service Desk

YES MAN YES!!!! Baie dankie Capital Legacy hierdie is great diens! Dankie vir julle.

Received from a Financial Advisor

    I find that they are a caring company! They really go out of their way to give great service, like sending their consultants across the country to see clients to do their Wills. More important is when our client passed they appoint a caring case manager and will AGAIN go and see the families / beneficiaries to assist with explaining the process, completing forms and gathering info.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    I have to congratulate you on your service – my client was so impressed with you and the way you explained the product.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    The client said that the appointment was most pleasant and very informative.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    The client is very happy with the A-class service and advice he received. Thank you.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    Thank you so much for your prompt assistance and fantastic service. I appreciate your letter. I will definitely contact you in the future.

    Received from a Client

    Received from a Client

    I learnt so much in my joint call with him, he is a pleasure to work with.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

    Thank you so much for the excellent and quick way that you have handled this matter. I really, really appreciate it.

    Quote from Independent Financial Advisor, Certified Financial Planner® and surviving Husband

    Quote from Independent Financial Advisor, Certified Financial Planner® and surviving Husband

    Keep up the brilliant work and Capital Legacy should be really lucky to have you on board as it is very hard to find good efficient customer service and the turnaround time you did this in was phenomenal. Thank you so much once again.

    Received from a Client

    Received from a Client

    Dear Deenisha and co. Thank you for all your help with the estate of our Father. You have made the process as bearable as possible through all your efforts.

    Message attached to a bouquet of flowers and delivered to our offices from the family who had recently lost a loved one

    Message attached to a bouquet of flowers and delivered to our offices from the family who had recently lost a loved one

    The client is very happy with the A-class service and advice he received. Thank you.

    Financial Advisor regarding a Consultant

    Financial Advisor regarding a Consultant

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  • QUICK REACH

    For general enquires, claims assistance or servicing needs, please contact us on:

    087 352 2800
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    Bryanston, Gauteng

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