On Monday evening, Sasfin Securities won the Top Advice-Based Broker award at Intellidex Top Stockbrokers 2020.
10 reading min
23 Sep 2020
In the news
On Monday evening, Sasfin Securities won the Top Advice-Based Broker award at Intellidex Top Stockbrokers 2020, recognised as best in class across the stockbroking industry for their personalised and professional service, knowledgeable advice and extensive research. The company also was placed second as the most improved stockbroker, while Sasfin's Helen Haworth also took third place in the Individual Stockbroker award scoring a phenomenal 4.91 out of 5, reflecting the importance of building long-lasting and trusting client relationships. The award was introduced in 2019 to recognise individual excellence and has been widely welcomed by the industry.
Explains Erol Zeki, Sasfin Wealth CEO, "This acknowledgement from clients is really the only thing that matters. And we have made this happen during lockdown, illustrating that we have been able to navigate this devastating pandemic without impacting the delivery to our clients. I couldn't feel more energised to be part of this team. A special thank you to the portfolio managers and the admin assistants that make it happen," Zeki concluded.
Launched in 2010, the Top Stockbrokers survey is now the industry’s premier research exercise. It has three components: a major client survey in which 6,540 respondents participated this year between July and August 2020; a mystery shopping exercise; and a survey of stockbroking firms. Intellidex, which conducts a range of research across financial and capital markets in South Africa, designed two comprehensive questionnaires, one for stockbrokers and another for their clients. The research informs various consulting projects and is widely credited for having caused an evolution in the standards of retail stockbroking in SA. Almost 50% of clients reckon their stockbroker’s service has improved over the last year while fewer than 10% reckon it has worsened. This year’s submissions indicate that stockbrokers go to great lengths to continuously introduce new developments. Technological advancements and more extensive research offerings are at the forefront. The high standards of the local stockbroking industry are reflected in the loyalty that clients have towards their firms – more than 40% have been with their stockbrokers for more than five years. At the other end, the client accrual rate is healthy – 22% have been with their stockbroker for less than a year.
A comprehensive survey provides important insight into the competitiveness of South Africa’s stockbrokers. The survey is designed as a guide for potential clients to establish which institution will serve their individual needs the best. It also generates substantial statistical analysis of clients’ opinions that can be useful to stockbrokers that want to improve their products and services.
The Top Stockbrokers survey has established itself as SA’s leading assessment of the industry. This year’s survey marks the 11th anniversary of this rigorous review of stockbroking services in SA. The results stem from a questionnaire completed by stockbrokers and a mystery shopping exercise, as well as feedback from their clients via an extensive online questionnaire. This year 6,540 clients participated in the client survey. Such a large pool entrenches the credibility of the survey findings. We consider the sample size to be a meaningful reflection of the views of the universe of clients of South African stockbrokers.
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