ABSA STOCK­BRO­KERS

Financial Mail - Investors Monthly - - Cover Story -

ABSA STOCK­BRO­KERS & PORT­FO­LIO Man­age­ment has been ac­tive since 1959 and the bank has steadily de­vel­oped from an ex­e­cu­tion-only bro­ker into a fullser­vice, ad­vice-based of­fer­ing that spe­cialises in wealth cre­ation and in­come gen­er­a­tion. Its of­fer­ing is very solid for so­phis­ti­cated in­vestors need­ing ad­vice, as well as for small in­vestors.

Absa makes an ef­fort to make ETFs af­ford­able and ac­ces­si­ble to clients. It has in­tro­duced a debit or­der fa­cil­ity on ETFonly ac­counts and ranks third in the taxfree sav­ings ac­counts cat­e­gory, which in­cor­po­rates ETFs. In De­cem­ber 2016 it launched the World Trader ac­count, which gives clients ac­cess to more than 30,000 shares and ETFs world­wide.

This year it has fo­cused on en­hanc­ing and au­tomat­ing back-of­fice func­tions in an ef­fort to en­sure a more seam­less and client-fo­cused ex­pe­ri­ence. Absa be­lieves these up­grades are a key com­po­nent in client ser­vice and re­ten­tion.

Absa’s ef­forts to stream­line client ser­vices are pay­ing off: al­most 50% rated the ease of opening a tax-free sav­ings ac­count as ex­cel­lent. Also, clients are happy with the bank’s over­all ser­vice — 41% rated it as ex­cel­lent.

Clients are in­clined to rec­om­mend the bank; 61% say they are ex­tremely likely or very likely to do so.

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