Market Leaders Pick Their Market Leader: Which stockbroker is a sound investment?

Jeff Plowman

Chief Executive

Dealwise

I THOROUGHLY enjoy the pace of change the broking industry offers both in terms of changing technologies and the pubic view of share dealing . Delivery mechanisms such as the Internet, mobile phones and interactive television will mean that eventually we will have a completely different way of delivering our service. The other change is that now the public perceives share-dealing as a form of saving.

Ours is still a very immature market. I've been in the industry all my life and have never been so enthusiastic about it. There are more people involved in it and, as a result, the industry and market are more active. Many of the services we offer will become similar to those offered by any other company so we have to be innovative to stand out. We have to not just keep up with changes but also pioneer them. In the industry, I admire the way Brewin Dolphin is structuring itself.

Jane Platt

Chief Executive

Barclays Stockbrokers Ltd

I ENJOY the challenge of leading a diversified investment management company at a time of immense change. Individuals are taking more responsibility for their financial welfare and we can be at the forefront of doing away with the mystery of financial services by clearer pricing and more innovative prices.

To succeed in this industry you need vision, persistence, integrity and humility. You can always learn from clients and indeed from competitors. The industry has changed tremendously over the years. It used to be a fuddy-duddy industry based on old-style partnerships which tended to put partners first and clients second. Today the customer is absolutely at the centre of market leaders' thoughts and we offer much better choice and much better value for money. Still, there is a lot to do. I greatly admire Steve Shirley, the female founder of the FI Group. All of her employees are people who have returned from maternity leave. She proves that British women can start and run very successful, caring, companies.

Giles Vardey

Chief Executive

Greig Middleton

OURS IS an extremely fast-changing market place, so there is never one definitive magic solution as to how to run a company within it. We deal with ordinary people so it's important to dispel the idea of stockbrokers being remote. These days, running a business is all about personal service. You have to be energetic and naturally inquisitive to get ahead. You always need to be thinking of the markets and your clients' needs. It is certainly not an industry for shrinking violets. The traditional stockbroker was not necessarily the best and brightest because the meet and greet ability was always more important. But this is changing rapidly. These days, you need people who are smart and people who can also build the long-term relationships with clients.

I admire those firms that have maintained traditional swanlike qualities. They seem to glide effortlessly across the pond, but in fact are paddling furiously. Companies such as Rathbones, whose chief executive is Roy Morris. They have built themselves up using the same qualities we have.

Roy Morris

Group Chief Executive

Rathbones

WITH THE introduction of technology, the 24-hour market has grown. Now you are finding more people investing in places like Japan and the Philippines. New markets are coming into play every day with the Internet. It is marvellous to think you can be sitting anywhere in the world and yet be kept up to date with prices. I always look to my competitors when asked whom I respect. People who are running successful businesses such as Mike Burns of DWD and John Hall of Brewin Dolphin. I like the way they've set up their companies.

Allan Collins

Partner

Redmayne-Bentley

I HAVE been a private client broker for more than 30 years and the major impact over that time, has to be the computer. On the downside, it was responsible for the demise of the trading floor. On the upside, the impact on the speed of dealing and of settling transactions, and the speed of distribution of information has transformed the business. Now the computer is opening up the market to the private investor via the Internet.

The successful broker these days has to embrace all of this technology, but at the same time still sit down with a client and offer the old-fashioned "tea and sympathy" service. There is an army of new investors out there who still need to be able to talk to a broker who will guide them through the complexities of the modem market.

Whom do I admire most? My partner, Keith Loudon, who has spent all of his broking years successfully breaking down the barriers and taking the stock market to the small investor. Outside Redmayne-Bentley I'd single out Justin Urquhart-Stewart of Barclays - the industry needs more people who can talk about the market in plain and simple language - and do it with a bit of dash and colour.

Jeremy Delmar-Morgan

Chief Executive

Tether & Greenwood

IN OUR business, your assets are your people. You have to get on with people, both clients and staff and you must understand them and their needs. Obviously you have to appreciate risk and you should have the foresight to see which areas you should develop into. You've got to respect Cazenove. Rathbones too, currently under the aegis of Roy Morris, is an interesting company which has grown rapidly.

Michael Sunderland

Chief Executive

Walker Crips Weddlebeck

TO BE a decent private client stockbroker, you need to be deeply interested in the needs of the individual investor. You must be able to understand risk and appropriately advise your client in the light of that knowledge. There is day-to-day change in technology in our industry so you have to keep clued up on that side of things and the possible application of the changes to your own business. Redmayne-Bentley have several Investors Chronicle awards and these are worth due note. They have also achieved a great deal in terms of service to the private customer.

Bob Duste

CEO

Charles Schwab Europe

THE WHOLE idea of individuals investing in business and being able to share in the success of a business is a fabulous way for people to achieve financial independence and prepare for the later years of their life. I am an avid investor myself and have been infected by Charles Schwab's enthusiasm for stocks. The stock market has changed over the years from being a private, insiders' game to one anyone can dabble in. The one guy I really admire in the industry is Chuck Schwab who is based in the States. He is known for his passion, integrity and transparency to investors. He removed the shroud from investing.

Matthew Orr

Managing Partner

Killik & Co

WE ARE aiming to popularise share dealing by opening local, drop-in agencies. This allows the broker to have a local "patch". They grow into this and become part of the local community. This is our attempt to demystify stockbroking. It is not just for the wealthy. Empathy is something I think any good adviser needs, as is engendering trust. You mustn't take your client relationship for granted. You have to think - what can the client get out of this. We are arrogant in our niche and there aren't many competing with us at the moment. The Americans concern me most as they're more developed than us in their thinking, Merrill Lynch is the perfect example.

Shaun Pratley

Chief Operations Officer

DLJ Direct

THE BROKERAGE service industry is changing so rapidly these days that you need to be able to adapt to change. Certainly the qualifications I took when in my 20s are of little use now. You have to be flexible, adaptable and accept that industry is changing. Charles Schwab is an example of such flexibility. About 25 years ago he had small office. He took on the industry in US and came out victorious. In this country, Brian Winterflood of Winterfloods is an impressive retail service provider. He hasn't followed the crowd but he knows the market place.

Chris Ring

Managing Director

Natwest Stockbrokers

OURS IS no longer seen to be a closed market - people are more aware of what is available and what to do with their funds. I enjoy the challenge of having to keep at the forefront of this business. To keep at the forefront, you need the ability to adapt to the constantly changing markets and evolving customer needs. People are no longer looking simply for a brand but also for good quality service. I admire of Dealwise as someone who has built up his business from next to nothing to become a big player.

Interviews by Sally Chatterton and Sonia Damle

Suggested Topics
News
A model of a Neanderthal man on display at the National Museum of Prehistory in Dordogne, France
science
News
Richard Dawkins dedicated his book 'The Greatest Show on Earth' to Josh Timonen
newsThat's Richard Dawkins on babies with Down Syndrome
Arts and Entertainment
Eye of the beholder? 'Concrete lasagne' Preston bus station
architectureWhich monstrosities should be nominated for the Dead Prize?
Extras
indybest
PROMOTED VIDEO
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
Travel
Dinosaurs Unleashed at the Eden Project
travel
Arts and Entertainment
music
Sport
football
Life and Style
This month marks the 20th anniversary of the first online sale
techDespite a host of other online auction sites and fierce competition from Amazon, eBay is still the most popular e-commerce site in the UK
News
i100
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Quantitative Analyst (Financial Services, Graduate, SQL, VBA)

£45000 per annum: Harrington Starr: Quantitative Analyst (Financial Services, ...

Application Support Engineer (C++, .NET, VB, Perl, Bash, SQL)

Negotiable: Harrington Starr: Application Support Engineer (C++, .NET, VB, Per...

AIFMD Business Analyst / Consultant - Investment Management

£450 - £600 per day: Harrington Starr: AIFMD Business Analyst / Consultant - I...

Business Analyst Solvency II SME (Pillar 1, 2 & 3) Insurance

£450 - £600 per day: Harrington Starr: Business Analyst Solvency II SME (Pilla...

Day In a Page

Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape
eBay's enduring appeal: Online auction site is still the UK's most popular e-commerce retailer

eBay's enduring appeal

The online auction site is still the UK's most popular e-commerce site
Culture Minister Ed Vaizey: ‘lack of ethnic minority and black faces on TV is weird’

'Lack of ethnic minority and black faces on TV is weird'

Culture Minister Ed Vaizey calls for immediate action to address the problem
Artist Olafur Eliasson's latest large-scale works are inspired by the paintings of JMW Turner

Magic circles: Artist Olafur Eliasson

Eliasson's works will go alongside a new exhibition of JMW Turner at Tate Britain. He tells Jay Merrick why the paintings of his hero are ripe for reinvention
Josephine Dickinson: 'A cochlear implant helped me to discover a new world of sound'

Josephine Dickinson: 'How I discovered a new world of sound'

After going deaf as a child, musician and poet Josephine Dickinson made do with a hearing aid for five decades. Then she had a cochlear implant - and everything changed
Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

Greggs gives lesson in crisis management

After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

Matthew McConaughey sings the praises of bumbags

Shame he doesn't know how to wear one. Harriet Walker explains the dos and don'ts of fanny packs
7 best quadcopters and drones

Flying fun: 7 best quadcopters and drones

From state of the art devices with stabilised cameras to mini gadgets that can soar around the home, we take some flying objects for a spin
Joey Barton: ‘I’ve been guilty of getting a bit irate’

Joey Barton: ‘I’ve been guilty of getting a bit irate’

The midfielder returned to the Premier League after two years last weekend. The controversial character had much to discuss after his first game back
Andy Murray: I quit while I’m ahead too often

Andy Murray: I quit while I’m ahead too often

British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home