Intellidex conducted the inaugural Top Stockbroker of theYear awards in 2010 and it has since established itself as the industry’s premier rankings.
Rand Swiss wins this year’s Top Stockbroker of the Year award.
Propelled by overwhelmingly positive client ratings of its products and services, it also wins the Top Advice-Based Broker award and the People’s Choice Award – the latter determined solely by clients. Rand Swiss is not a registered stockbroker and is not a member of the JSE but is a registered financial services provider and services clients by providing trading services on the JSE and other exchanges, allied with a comprehensive wealth management service and advice. (See the methodology for more details on the difference between FSPs and stockbrokers).
Since its formation in 2015 the firm has focused on building strong relationships and adapting to client needs. That ethos has helped establish the firm as a formidable player in the market in a short time – it was ranked second overall in last year’s survey.
Standard Bank Online Share Trading/Stockbroking, which won the overall award in the previous three years, takes second place this year followed by PSG Wealth. Both Standard and PSG are full-service stockbrokers with the relevant JSE memberships.
GT247/GT Private Broking, also an FSP rather than stockbroker and part of the Purple Group stable, is the Top Online Broker of the Year. It focuses on CFD trading and its core client base is made up of active day traders – who give it overwhelmingly positive ratings.
Its sister company, EasyEquities, offers the Top Tax-Free Savings Account – determined purely by client ratings – and it also wins recognition for being the most improved broker. The firm constantly impresses with its innovative approach to improving the client trading experience. It has also done much to grow retail participation in the industry, attracting a younger client base.
FNB Stockbroking & Portfolio Management takes the Top CFD Provider award. It says it has noticed renewed client interest in contracts for difference – which had waned with the advent of exchange-traded funds – and has beefed up its educational resources related to the product.
This year Intellidex introduced a new award, Top Relationship Manager of the Year, to recognise individual excellence and Carlo Amorim of PSG Wealth is the winner of the mainden award. Leonard Dateline from Momentum Securities is the runner-up with Fernando Moreira from Afrifocus Securities third.
The structure and nature of the survey have been informed by the experience Intellidex has built up over the years of running the survey 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 subsequently changed the awards to recognise the top online broker and the top advice-based (telephone) broker.
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. 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 2019 survey report can be downloaded here.
The 2019 Top Stockbrokers will be published on 26 September in Financial Mail Investors Monthly with InFront as the Platinum Sponsor and the JSE as the Awards Host on 19 September 2019.