Choosing/Rating Stockbroker

[Stockbear]

Alanbow: Sorry you have to experience this crap from a firm like Zenith! Their recent disservice to you stinks to high heavens!

Everyone: A big Thank you to all those that have actively contributed their experiences and opinions about the various stockbroking firms they have had dealings with.

What I find hard to comprehend is why most members refuse to share their experiences and knowledge of stockbroking firms with others?

All that is required is a simple straightforward explanation of the broker's name, how long you've been with them, what services you are happy with or not, what is their customer service like? Are you treated courteously (not because you have a 30 million portfolio)!

Is this too much to ask? Is this too much for those amongst us whose sole ambition is to reap (gain from the selfless amongst us) and not sow (never ever giving anything of worth in return)?

Please! Please! Please kindly share any and every concrete and objective info that you can about stockbrokers; consider this your good deed for the year (for those who find it excruciatingly painful and out of character to share), to every new investor seeking the services of a good/reliable broker or for people like me seeking an alternative to crappy brokering services!

I've said my piece. Over to you folks!

It's time for ROARS

[oseitutu]

Originally Posted by muser

Hi Guys,

Would it be possible to create a table for rating Stockbrokers and make it a sticky topic?

I can do that if we can first of all nominate. Then based on the nominations, we can create a table where members can vote on different parameters. There are more than 180 of them so such a table will be impractical.

[oseitutu]

Originally Posted by Stockbear

What I find hard to comprehend is why most members refuse to share their experiences and knowledge of stockbroking firms with others? ........Please! Please! Please kindly share any and every concrete and objective info that you can about stockbrokers; consider this your good deed for the year (for those who find it excruciatingly painful and out of character to share), to every new investor seeking the services of a good/reliable broker or for people like me seeking an alternative to crappy brokering services!

I've said my piece. Over to you folks!

It's time for ROARS

Na you Bikoooooooo!
The issue here is many of us are not sure why we get or do not get the services we desire. Portfolio size or good company, or good looks( am not claiming anythging o!). The bottomline is that every brokerage firm has its ups and downs. We should never shy away from the fact that the fatter your wallet, the better the service you will get.....to an extent I believe.
I wish we could have a league table so for every plus incident, the firm gets a +1 added and for every negative incident, the firm gets a -1. Soon we will know who is who. The section could be called Stockbrokers' Who-is-who. Moderators come in here o, or computer gurus. Me I be computer illiterate with one-finger typing.

[Miss_Risky]

@Stockbear,

Speaking for myself, I haven't been with my stockbroker long enough to form a firm opinion about her services hence by 'being backward in coming forward.' She came highly recommended by someone that has used her services for the past 4 years so I reckoned she must be doing something right. I've come up with a point system to evaluate their service delivery so far.

Broker: Camry Securities Ltd

Communication = 2/5
Accuracy = 3/5
Speed of execution = 3/5
Online facility = 3/5
Ease of Transfer = NA

Communication: It's a one way traffic as I initiate all the calls, texts and email. This can definitely be improved
Accuracy: Mistakes have been made with my buy instructions. It could have all ended in tears but thankfully not.
Speed of execution: Well, this seems to affect everyone in one way or another due to scarcity or whatever else.
Online facility: They have a web presence but not a portal for issuing mandates etc.
Ease of transfer: Mmmmm....with all the horror stories, I'm not looking forward to finding out!

I thought about including analysis in the evaluation criteria but figured most people use execution only service anyway.

PS: I've been with them just a couple of months so this may not be a fair assessment.

[oseitutu]

Originally Posted by Miss_Risky

Communication = 2/5
Accuracy = 3/5
Speed of execution = 3/5
Online facility = 3/5
Ease of Transfer = NA

Thanks for this scoring system.This is my own experience
AFRINVEST(until recently SECTRUST){DURATION SEVEN MONTHS}

Communication = 3/5
Accuracy = 3.5/5
Speed of execution = 4.5/5
Online facility = 3/5
Ease of Transfer = NA

STANBIC EQUITIES (DURATION ONE YEAR)

Communication = 1.5/5
Accuracy = 4.5/5
Speed of execution = 4.5/5
Online facility = 1/5
Ease of Transfer = NA

[Stockbear]

Miss_Risky & Ositutu: You are both stars! Thanks for the prompt response.

MS: I like you rating system:

Cashcraft:

Duration: 6 months

Communication: Previous account officer = 0.5/5 Present officer = 3/5

Speed of execution: Previously 1.5/5 Presently 2.5/5

Accuracy: Previously = 1.5/5 Presently = 2/3

Online Facility: 2/5

Customer Service: 1.5/5

Verification services: 1.5/5


The previous/present refer to a change in account officers and branch!

[Stockmarket_Voyeur]

Strategy & Arbitrage:

• Duration: 12 months
  
• Communication: 3.5/5
  
• Speed of execution: 4/5
  
• Accuracy: 4/5
  
• Online Facility: N/A
  
• Customer Service: 3.5/5
  
• Ease of Transfer: N/A

[compengr]

I'm outside the shores of Nigeria My broker is zenith securities but I relate directly with one the staff. I have only Dangote shares for now and have requested to buy FBN. In essence I haven't started trading yet, however I have had to send several mails and called severally in order to get update on my requests. The service is terrible as long as I'm concerned.

The problem as I've come to be made to understand is that these companies are so under-staffed considering the surge of people into nigerian stock trading. Too many requests and few staff to execute the requests.

I'm currently looking to get a second broker, but for now can someone tell me where I can get correct indices, for example P/E = (Stock Price) / EPS, when I check what FSDH publishes, it's incorrect and then I check that of cashcraft and it different from FSDH's and incorrect as well.

Cashcraft
Price EPS P.E
ACCESS 19.32 0.07 268.82

FSDH
ACCESS 19.32 0.33 59.23

These are very differing data from two securities company. Also I know that the number decimal places in the EPS also affects your result but the differences here are just too differing and then WHICH ONE IS CORRECT????

Help needed!!!!!

[Avocado]

You could simply compute your data from the FSDH report, or any other report.

You wrote: P/E = (Stock Price) / EPS

From that, you could compute either trailing EPS of forward EPS:
stock price is known; EPS can be obtained from the company results and # of outstanding shares; P/E can then be computed. Correct # of outstanding shares could be obtained from the NSE website (http://www.nigerianstockexchange.com); thi slocation isn't always up.

Cashcraft
Price EPS P.E
ACCESS 19.32 0.07 268.82

FSDH
ACCESS 19.32 0.33 59.23

Both these P/Es are unreasonable, although the FSDH # is "correct", correct only in the sense that the formula has been correctly applied (the only issue there is that it is the current price divided by the previous financial year (FY) earning; this screws things up (due to the recent price surge on the NSE). This is also an indication of what to figure about whether ACESS is fair at the offer and or current price.

.
.

[compengr]

Avocado when you say "Both these P/Es are unreasonable..", what do mean?

Also what do have to say about the EPSs being different?

Are you saying that the data supplied by FSDH is correct?

Thanks.

[compengr]

Further to my questions:

1. Where can I get authentic trailing (last 4 quarters) EPSs?
2. I believe I should be able to calculate this (EPS) myself if some some data is made available to me. Someone please clarify this statement?

Thanks.

[Avocado]

Originally Posted by compengr

Avocado when you say "Both these P/Es are unreasonable..", what do mean?

Also what do have to say about the EPSs being different?

Are you saying that the data supplied by FSDH is correct?

Thanks.

Replies moved to the ACCESS bank location

[Avocado]

http://www.stockmarketnigeria.com/fo...ted=1#post3025

Replies moved here

[Avocado]

Stockmarket_Voyeur: do you have a contact at S&B?

Stockbroker: Afrinvest West Africa (AFWA; formerly Sectrust)
Website: www.afrinvestwa.com
Duration: 6 years. Yep. 6 years.
Communication: Previous account officer = 4.5/5
Communication: Present account officer = 4.0/5
Speed of execution: 4.0/5
Accuracy: 4.5/5
Online Facility: 1/5
Alternative to online facility: 4.5/5
Customer Service: 4.0/5
Verification services: 4.0/5.0
Professionalism*: 4.5/5
Information dissemination: 2/5
Research: 3/5
Daily Data: 3/5

In these 6 years, I've dealt with 5 different account officers. The assessment on professionalism has remained pleasantly constant.

Disclosure: Avocado has no shares in Afrinvest; has no relative, near or distant, working in Afrinvest; gets no commissions for referrals etc etc, and currently has neither the interest nor the funds to buy anything in Afrinvest.

[Stockmarket_Voyeur]

Stockmarket_Voyeur: do you have a contact at S&B?

Hi Avocado

I've sent you a PM with my contact's details .

[Avocado]

Got it.

Have given details to a number of friends willing to check S&B out; will revert with experiences.

Cheers.