Wealth Migrate has been approved as a Category 1 Financial Services provider
Shares
Online investing portal, Wealth Migrate South Africa, has been approved as a Category I Financial Services Provider (FSP 47394). This new status will allow the company to provide its crowdfunding offering on an intermediary services basis, using shares as a financial product category.
The announcement marks the completion of a long journey that Wealth Migrate began about a decade ago. CEO Scott Picken commented, “To put this into perspective, we worked with the Financial Sector Conduct Authority (FSCA), formerly known as Financial Services Board for 10 years to allow this to happen, including creating the African Crowdfunding Association [ACFA] in 2015. Wealth Migrate always had the objective to offer our crowdfunding offering to investors within a regulated environment. Obtaining our Category I licensing approval signifies the achievement of this objective.”