Article Abstract:
Stockbrokers should be able to carry out orders in an efficient way and be easy to contact by phone, according to a survey of investors. Low charges are also important is is friendliness, honesty and good advice. The quality is advice is a key issue for dealing-with-advice services, and is more important than low charges. Investors do not like using nominee accounts, and fear loss of control could result. ShareLink ranked first among dealing-only brokers and Neilson Cobbold ranked first among those offering advice. Killik and Co and NatWest Stockbokers ranked first among advisory portfolio management service providers, and BWD Rensburg ranked first among those offering discretionary portfolio management services.
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Article Abstract:
Investors can choose which level of service they require from stockbrokers. Lower commissions can be obtained if investors use dealing-only services. Investors dealing intermittently may seek low commissions, but more regular dealing may mean that administrative support becomes important, and this may include portfolio valuations. Dealing with advice means high commissions, but brings the benefits of advice from an expert with close links to the market. Portfolio management can involve giving managers power to act on their own, or they may check with investors before taking decisions.
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Article Abstract:
A questionnaire was completed by over 1,000 readers of Investors' Chronicle, giving their views on private-client stockbrokers. Brokers gaining awards included ShareLink and City Deal Services among brokers providing a dealing-only service. ShareLink was also cited as the best stockbroker for investors carrying out trades worth less than 1,000 pounds sterling. Killick and Co was ranked the best broker providing a service with advice for investors.
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