Top pri­vate banks and wealth man­agers based on client feed­back

Financial Mail - Investors Monthly - - Cover Story - For fur­ther de­tails log on to­tel­


wealth man­agers se­lect the win­ners of the Peo­ple’s Choice awards by com­plet­ing an on­line sur­vey. Their rank­ings are ex­tremely im­por­tant to the par­tic­i­pat­ing firms and the process forms an in­te­gral part of the sur­vey. The opin­ions of clients in any mar­ket seg­ment are an im­por­tant fac­tor in as­sess­ing a com­pany’s ser­vices and prod­ucts. In the case of our sur­vey, these opin­ions also serve as one of the checks to the in­for­ma­tion pro­vided by the firms them­selves. We asked clients of pri­vate banks and wealth man­agers all about their ser­vice providers in an on­line ques­tion­naire con­ducted ear­lier this year. This year 5,977 clients started the sur­vey and 3,642 peo­ple com­pleted it — a huge in­crease on last year when 2,732 clients (also a record) par­tic­i­pated. The high num­ber of re­spon­dents en­sures the sur­vey find­ings are highly cred­i­ble. These awards are based purely on that feed­back. Two sets of re­sponses went into these rank­ings with equal weight given to each: clients’ over­all sat­is­fac­tion lev­els and their will­ing­ness to rec­om­mend their ser­vice provider to friends and fam­ily. For this in­dus­try, client re­fer­rals are crit­i­cal. In fact, quite a few wealth man­agers do lit­tle mar­ket­ing and rely only on word of mouth. The core ques­tions in the sur­vey re­lated to client per­cep­tions of the stan­dards of ser­vice, the range of prod­ucts to suit their spe­cific needs and other sat­is­fac­tion rat­ings. We also in­vited them to com­ment on as­pects out­side the range of ques­tions and an­swers, and the re­sponses in­formed the fi­nal judg­ing process. Verso Wealth, in its de­but year of par­tic­i­pa­tion in our sur­vey, wins the Peo­ple’s Choice award as Top Wealth Man­ager. In the pri­vate banks cat­e­gory, In­vestec Pri­vate Bank wins for the fifth time — a truly re­mark­able achieve­ment. These win­ners are dis­cussed in more depth in the main ar­ti­cle on page 12.

All those who com­pleted the on­line client ques­tion­naire for the Peo­ple’s Choice awards were en­tered into a ran­dom draw to win R10,000 cash to be de­posited into their pri­vate bank or wealth man­age­ment ac­count. CON­GRAT­U­LA­TIONS to our R10,000 cash prize win­ner: Dean Chap­man of Sun­ninghill, Jo­han­nes­burg.

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