stock brokers should better step up their game

[chibiks]

With the capital market consolidation exercise, I can see a pattern- due to poor customer service; clients shift to the bigger firms (or smaller but with good services) with better overall service; smaller (or big but inefficient) firms begin to notice they are losing customers and if they are into stock broking only, profits may be affected, they decide to step up their game.

I think one of the reasons why we still get poor customer service in the market is due to most of these companies get their major revenue in other capital market activities not just broking.

With these said, has anyone had any experiences, good or bad with Lead Capital? and what do you guys think of our brokers in general.

[idowu_k]

Originally Posted by chibiks

With the capital market consolidation exercise, I can see a pattern- due to poor customer service; clients shift to the bigger firms (or smaller but with good services) with better overall service; smaller (or big but inefficient) firms begin to notice they are losing customers and if they are into stock broking only, profits may be affected, they decide to step up their game.

I think one of the reasons why we still get poor customer service in the market is due to most of these companies get their major revenue in other capital market activities not just broking.

With these said, has anyone had any experiences, good or bad with Lead Capital? and what do you guys think of our brokers in general.

Yesterday, I posted in the PP thread that most Nigerian stockbrokers apart from being snobbish, hardly take the interest of their clients into consideration on issues relating to cert. lodging, return money fr IPO, sales/purchases etc. They treat clients with disdain probably 'cos they see themselves as doing them a favour rather than the other way round. I also see the Nigerian factor in play here. 'cos in other places, clients/customers are almost over-pampered and treated with respect since they form the source of their coy's income. I'm d4 advocating putting a mechanism in place to allow investors to determine the stockbroker that would enjoy the commission from the sale of their stocks irrespectively where they were bought/cert. lodged. The popular maxim that "Customer is always right" does not currently work the relationship bw Stockbrokers and Investors here in Nigeria. Something surely must done to right the situation.

[tobenna]

Idowu, Lead Capital is one of my brokers - I have multiple CSCS accounts. They are not too different from the rest of the other brokerage firms. However, they do add a personal touch & their online service is cool.
My recommendation to you and others is, if you are disatisfied with any company's services, get the number of the MD/senior manager or just get an appointment and lay your complaint. Trust me, it works. I have tried it a few times, not just with the brokers, but other Nigerian service firms and my problems resolve themselves instantly.

[Nicholas]

Thanks guy for the wonderful info provided in this forum. Tobenna said he has multiple CSCS account. Do you provide different detials for the account opening or how is it possible?

[newton]

Its quite possible. In fact I have two cscs accounts (Zenith sec and Diamond Sec) with exactly the same details.

[riskreturn]

Originally Posted by newton

Its quite possible. In fact I have two cscs accounts (Zenith sec and Diamond Sec) with exactly the same details.

I also have 2 CSCS A/Cs - with FSDH Securities Ltd and CSL STockbrokers Ltd. It is not only possible, but also not uncommon.

[tobenna]

Yep. Got that right guys. Stock brokers mess you up so bad, you just need to have contingency plans.

[Nicholas]

Knowledge they say is power and we learn everyday. Thanks for the info on multiple CSCS account.

[obix]

Tobenna,how can i secure the services of Lead Capital brokers. Since you said that they have a good PR with their clients as well as a good online service, I will really need their service since where i stay we don't have brokers so close to us and i have a fairly regular access to the internet. I'll appreciate your help in this regard.

[idowu_k]

Originally Posted by obix

Tobenna,how can i secure the services of Lead Capital brokers. Since you said that they have a good PR with their clients as well as a good online service, I will really need their service since where i stay we don't have brokers so close to us and i have a fairly regular access to the internet. I'll appreciate your help in this regard.

Tobenna, I am also interested. Hope the Lead Capital Brokers management will be informed by somebody of your subtle and unwitting action to secure clients for them. You actually deserve to be given some commission for for this subtle efforts to advertise the company's services. Nevertheless, thanks for this useful info. God bless.

[tobenna]

Originally Posted by obix

Tobenna,how can i secure the services of Lead Capital brokers. Since you said that they have a good PR with their clients as well as a good online service, I will really need their service since where i stay we don't have brokers so close to us and i have a fairly regular access to the internet. I'll appreciate your help in this regard.

Just check their website and contact the office nearest you by phone. They do have a minimum initial investment amount. You can then transfer money for purchases online.
Let me know how it goes.

[tobenna]

Originally Posted by idowu_k

Tobenna, I am also interested. Hope the Lead Capital Brokers management will be informed by somebody of your subtle and unwitting action to secure clients for them. You actually deserve to be given some commission for for this subtle efforts to advertise the company's services. Nevertheless, thanks for this useful info. God bless.

Humph, No be Naija company? Commission no dey their dictionary.
I don't expect 'nader' from them.
All stockbrokers need constant monitoring. Don't just rely on my word. They have upset me a couple of times too.

[panasharp]

I have multiple CSCS accounts as well, and I do not plan on closing or merging them at any point in the future. It gives me a lot of flexibility.


Service providers in naija still need to understand what it means to deliver quality customer service.

[topetrade777]

Please i will like to know if Securities Trading and Investment Ltd(Sectrade) is real,they have offices in lagos and portharcourt but i cant find their name in the list of Stockbroken firm in Nigeria posted by proshare.... Please i need reply.

[solainvest]

Originally Posted by topetrade777

Please i will like to know if Securities Trading and Investment Ltd(Sectrade) is real,they have offices in lagos and portharcourt but i cant find their name in the list of Stockbroken firm in Nigeria posted by proshare.... Please i need reply.

If you check on the link below (which is from SEC website), it shows they are approved broker/dealers.

Current List of Capital Market Operators


The last 2 columns show something about expiry in June though but they are currently an approved market operator.

[topetrade777]

Originally Posted by solainvest

If you check on the link below (which is from SEC website), it shows they are approved broker/dealers.

Current List of Capital Market Operators


The last 2 columns show something about expiry in June though but they are currently an approved market operator.

Thanks a lot for the information,that is why i always beleive that Knowledge bring power but Infomation brings strenght..thanks