PEO­PLE’S CHOICE AWARDS

Client sat­is­fac­tion lev­els are high across the in­dus­try

Financial Mail - Investors Monthly - - Cover Story -

DWT SE­CU­RI­TIES IS THE WIN­NER of the 2018 Peo­ple’s Choice award.

This award is cov­eted, as it is based purely on client opin­ions. This year 6,380 par­tic­i­pated in an on­line sur­vey of clients, en­sur­ing a high de­gree of cred­i­bil­ity to the Peo­ple’s Choice scores as well as to the scores of nu­mer­ous other cat­e­gories in which their opin­ions are in­cor­po­rated. It was an ex­tremely tight race, with ev­ery one of the top 10 bro­kers get­ting im­pres­sively high rat­ings from their clients. DWT Se­cu­ri­ties pipped Unum Cap­i­tal by 0.22 points.

DWT Se­cu­ri­ties is pri­mar­ily a de­riv­a­tives-driven bro­ker that caters for ac­tive day traders. Client com­ments were over­whelm­ingly pos­i­tive. Many clients re­marked about the ex­cel­lent sup­port ser­vice, which they say can­not be found at any other bro­ker in SA.

One client said: “In my 25 years in the JSE [I have found that] the best bro­ker ser­vice is from DWT. To get such ser­vice is ex­cep­tional. From open­ing an ac­count to plat­form help and ev­ery­thing else is just amaz­ing.”

We base the scores on two ques­tions that re­late to what we be­lieve is in­te­gral to as­sess­ing client sat­is­fac­tion lev­els: we asked clients to rank over­all qual­ity of ser­vice and to say how likely they are to rec­om­mend their bro­ker to friends and fam­ily.

Clearly SA’s re­tail stock­bro­kers are ex­cel­lent at keep­ing their clients happy. Fewer than two points sep­a­rate first place from 10th, re­flect­ing the fiercely com­pet­i­tive na­ture of the in­dus­try.

What’s no­table in this year’s rank­ings is that the bou­tique-type firms dom­i­nate – PSG is the only big player that caters for the full client spec­trum in the top 10.

This pos­si­bly at­tests to the smaller firms be­ing quicker to adapt to mar­ket con­di­tions, but also re­flects their abil­ity to have more di­rect, mean­ing­ful re­la­tion­ships with clients.

Over­all, in­dus­try ser­vice lev­els are highly re­garded by clients, and they ap­pre­ci­ate it when their bro­kers im­prove their of­fer­ings: 47% say they’ve no­ticed an im­prove­ment in the past 12 months. And clients are prov­ing to be loyal: 37% have been with their bro­ker for more than five years.

The bro­ker-client re­la­tion­ship is also a per­sonal one: 44% chose their bro­ker through rec­om­men­da­tions by fam­ily and friends.

Clients are typ­i­cally white (62%), male (82%), have a pro­fes­sional qual­i­fi­ca­tion and are high-in­come earn­ers: 34% earn up to R40,000 a month, 26% earn between R40,000 and R70,000 and 17% earn between R70,000 and R100,000. At the very top end, 23% earn more than R100,000.

The lucky win­ner of the R10 000 cash prize for com­plet­ing the Top Stock­bro­ker on­line client sur­vey is , who Nabeel Moosa has an ac­count with FNB Se­cu­ri­ties. His name was drawn from all the re­spon­dents who en­tered for the draw. The R10 000 will be de­posited into his stock­broking ac­count.

Pic­ture: 123RF — SIBGAT

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