Intellidex conducted the inaugural Top Stockbroker of the Year awards in 2010 and it has since established itself as the industry’s premier rankings.
Standard Online Share Trading/Stockbroking is the Top Stockbroker of the Year, slightly ahead of last year’s winner, EasyEquities/GT247. Consilium Securities is ranked the Top Advice-Based Stockbroker and GT247.com/EasyEquities is the Top Online trader. DWT Securities takes the People’s Choice award, which is prized highly because it is determined solely by client feedback. The other awards are based on an assessment by research house Intellidex, which is strongly informed by client views.
The survey of SA’s stockbrokers is in its seventh year and has established itself as the leading assessment of the industry. It is conducted by Intellidex, a specialist financial research house.
The structure and nature of the survey has been informed by our experience built up over the past six surveys, as well feedback from the stockbroking community and stockbroking clients.
In 2015 the survey format changed substantially with more emphasis placed on specific offerings to clients and client satisfaction ratings, and less emphasis on how stockbrokers would cater to different client archetypes. We also changed the awards last year to recognise the top online broker and the top advice-based (telephone) broker. We maintained that format this year.
The research follows three legs. First, a comprehensive questionnaire is sent to stockbrokers, asking for details of their products, pricing and market positioning. Second, a mystery shopping and desktop research exercise is undertaken by Intellidex analysts to verify information provided and assess transparency and responsiveness. And finally, a major online survey is undertaken of retail stockbroking clients.
An in-depth analysis of the results is undertaken, allocating scores to each stockbroker’s performance in various categories based on the information provided, our own assessments and feedback from the client survey. The point weightings are generally guided by the range in the market, so for example when calculating value for money the cheapest broker is scored 5/5 and the most expensive is scored 1/5. Points are awarded proportionately to the brokers between these extremes.
The 2016 survey report as published in FM Investors Monthly magazine can be found here.