The Digital Experience as a Competitive Advantage

Key Findings from the 2021 virtual Online Broker Summit

Investing has reached the mainstream market. Driven by new asset classes, strong equity performance, meme stocks and stimulus packages, traditional online brokerages and new fintech services alike have continued to see a surge in new accounts. With new demographics representing a large subset of these new users, many brokerages are curious.

Held virtually on November 10th, 2021, Trading Central’s annual Online Broker Summit gathered nearly 100 leaders in the digital wealth community to discuss emerging trends and how they are working to address them. Here are the top insights expressed within the brokerage panel and keynote presentation:

The Escalating Importance of Digital Experience

J.D. Power’s annual surveys measure the satisfaction of thousands of self-directed investors and explore their underlying drivers. Presenting findings from their most recent North American survey, Senior Director of Wealth Intelligence Mike Foy explained that while improvements have been made, digital wealth continues to trail behind other financial categories like banking and insurance. Ratings have steadily climbed over the past few years, impacted by the major updates investors have seen to platform features and interfaces. Today’s zero commission environment has removed traditional cost-based differentiators making the digital experience a key aspect of investor loyalty.

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