Evolutionary Awards 2025 – Wealthvest: most promising new black-owned initiative

Category: Most promising new black-owned initiatives

Describe your evolution:

Wealthvest Investment Management: Evolving Capital with Purpose

Wealthvest Investment Management is more than a new player in the South African asset management space, it is the embodiment of a vision rooted in transformation, resilience, and excellence. Founded in 2024 by Zaid Paruk CA(SA), Wealthvest was born out of a deep desire to redefine access, ethics, and performance in an industry where Black-owned and Black-led firms remain underrepresented.

As a 100% Black-owned, Level 1 B-BBEE contributor, Wealthvest represents not just evolution, but revolution, in inclusive investment management. Zaid Paruk’s entrepreneurial journey began long before the official launch of Wealthvest. With over 17 years of investment experience, including leadership roles at boutique investment firms such as Aeon Investment Management and Balondolozi Investment Services, Zaid understood the challenges black professionals faced in gaining meaningful traction in institutional asset management.

Witnessing the limited share of assets managed by Black professionals, Zaid envisioned a firm that was not only high-performing but deeply values-driven, inclusive, and transformative. Wealthvest is proudly a boutique investment manager. This positioning is a core part of our competitive advantage: we are agile, client-focused, and intimately involved in every investment decision. Being owner-managed allows for direct accountability, rapid response to market shifts, and a deep alignment between our actions and our clients’ goals.

At the core of Wealthvest’s strategy is our philosophy of “Opportunity at the Right Price” (ORP), flexible and disciplined investment methodology grounded in “expectations investing.” We do not bucket companies into styles like “value” or “growth.” Instead, we analyse the implied expectations priced into a stock and compare them to our internally calculated sustainable earnings (SE). When SE exceeds market expectations (IE), it signals a potential opportunity. This process is enhanced by thorough fundamental research, risk-adjusted valuation models, and fieldwork, such as using a company’s product or engaging with on-the-ground stakeholders.

We are also deeply ESG-aware, integrating environmental, social, and governance risks directly into our pricing models by applying risk premiums where necessary. As a proudly Black-owned business, transformation is not a compliance requirement, it is the foundation of our identity.

We are committed to building a company that reflects the South African society we serve.

• Ownership: 100% Black-owned • B-BBEE Level: Level 1 contributor.
• Leadership: Senior decision-making roles held by qualified professionals, with a commitment to mentorship and growth.

We foster a flat, collaborative structure where every team member’s voice is heard. Weekly training sessions, knowledge sharing, and mentorship form the basis of our learning culture.

Wealthvest is not only building portfolios, we are building and encouraging people. Our firm is committed to being a training ground for youth, women, and previously disadvantaged professionals. Through internships, analyst mentorship, and upskilling initiatives, we aim to broaden access to the financial services industry.

We also support broader impact through: •

• Access to ethical investing products (e.g., Shariah-compliant funds)
• Empowering retail investors to start investing from as little as R500/month
• Promoting financial literacy and responsible investing In our first 18 months, we have:
  • Launched multiple segregated portfolios and a flagship CIS fund
  • Gained regulatory licensing and early institutional interest
  • Participated in national investment roadshows
  • Built a performance-focused, value-aligned client base

While our current AUM stands at R194 million, we have a clearly defined five-year goal of reaching R5 billion, focused on South African equity, Shariah equity, and global equity strategies. Our estimated capacity is R20 billion, and we are building toward that systematically: one client, one investment, and one ethical decision at a time. We are reimagining what a modern, Black-owned investment firm can be, combining analytical depth with ethical clarity, performance with inclusion, and boutique agility with institutional-grade systems. As we apply for the 2025 EBnet Evolutionary Awards, we do so not as a traditional asset manager, but as a mission-driven catalyst for change. We believe Wealthvest is the most promising new Black-owned initiative not just because of what we’ve already built, but because of what we are building every day.

Describe the impact your evolution has had in response to its identified challenges and targeted outcomes.

Wealthvest Investment Management was established in response to a persistent challenge in the South African financial services sector: the underrepresentation of Black-owned asset managers and the limited availability of ethical, values-based investment products for both retail and institutional investors.

The firm identified a clear gap, not just in ownership demographics, but in the accessibility of investment solutions that resonate with the diverse cultural and ethical values of investors. Since its launch in 2024, Wealthvest has actively worked to bridge this gap by combining transformation, transparency, and tailored investment products.

As a 100% Black-owned, Level 1 B-BBEE contributor, Wealthvest’s evolution has had a profound and immediate impact on three core levels: market access, inclusivity, and industry credibility.

The creation of the Wealthvest Shariah Equity 27four Fund, one of the few actively managed, Shariah-compliant equity unit trusts in South Africa has provided an essential entry point for clients who previously had limited access to ethical, values-aligned investment products. The fund empowers retail clients, schools, non-profits, and SMEs to invest in a product previously reserved for large institutions. This evolution responds directly to the challenge of market exclusion and ensures that investing is not a privilege but an option available to all.

Wealthvest’s internal evolution has also driven industry transformation: with a gender-diverse team and a flat leadership structure that encourages mentorship and development, the company is cultivating future leaders in asset management.

The firm’s founding principle of reinvesting all income back into people, systems, and growth until it reaches R2.5 billion AUM is unique in the industry, reflecting a bold commitment to skills development and long-term sustainability. Within its first 18 months, Wealthvest has built credibility across retail and institutional markets. Through nationwide roadshows (KZN, Gauteng, Western Cape, Mpumalanga), direct engagements with financial advisors, and transparent communication, the firm has positioned itself as both a disruptor and a trusted partner.

The performance-driven investment philosophy, rooted in expectations investing and ESG-integrated analysis, has attracted early adopters and sparked increasing demand for platform listings.

Wealthvest set out to create a boutique, Black-owned asset manager that is competitive, values-based, and scalable. Wealthvest is not only building portfolios: it is reshaping perceptions, expanding access, and redefining what success looks like in the investment industry. In summary, the evolution of Wealthvest is a story of opportunity turned into impact: delivering results, creating jobs, and building trust in a sector that urgently needs diverse, ethical voices at the table.

Supporting Documentation >