Survey shows that a significant portion of
older investors rely on mobile and digital investing tools
E*TRADE Financial Corporation (NASDAQ:ETFC) today announced
results from the most recent wave of StreetWise, E*TRADE’s
quarterly tracking study of experienced investors. Results show
that Gen X (age 35-54) and Baby Boomers (age 55+) are digitally
savvy:
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150831006092/en/
- More than two out of three Gen X
investors and more than half of all Boomers surveyed categorize
mobile trading as “critical.”
- Half of all Gen X and one-third of all
Boomers surveyed plan to use their mobile devices more often to
manage their portfolios in the next year.
- More than a third of Gen X and about a
quarter of Boomers surveyed use an investing and trading app at
least once a week.
Furthermore, the survey reveals that both of these generations
prefer online tools over in-person advice when it comes to saving
for the long term. More than three-quarters of Gen X and Boomers
surveyed also prefer a broker that is more like R2D2, who comes to
their aid with a variety of helpful tools, over one like C3PO, who
provides a focused skillset and primarily offers advice.
“The belief that only millennials crave digital solutions is
dead,” said Kunal Vaed, SVP of Digital Channels at E*TRADE
Financial. “Gen X and Boomers show significant digital savviness as
well. Today, investors of all ages gravitate toward brokers that
offer a full suite of digital tools — from desktop to smartphone,
and now even the watches on our wrists.”
Mr. Vaed offered the following insights on the recent rise of
Gen X and Boomer digital adoption:
- Investors crave the direct
model. In the wake of the global financial crisis, older
investors may be less satisfied with the value they have received
from traditional broker relationships and now seek tools to help
them manage their finances themselves.
- Investors interact with digital
every day — in almost everything they do. As experiences like
Facebook, Amazon, and Uber increasingly become a daily part of
consumers’ lives, investors are demanding similar experiences from
their broker.
- Today’s mobile and digital landscape
offers so much more. Bandwidth has expanded exponentially,
connecting consumers more than ever before. With greater processing
power and bigger screens, smartphones have advanced to become a
critical channel for rich investing experiences, including asset
allocation tools, intelligent education, and complex trade
executions.
Mr. Vaed continued, “Clearly, digital channels are critical for
today’s investor, but that is not the end of the story. Investors
now seek the hybrid model — one defined by an exceptional
experience online and supported by guidance and help when they need
it, either virtually or in person.”
For the full report of the Q315 StreetWise study results, click
here.
E*TRADE helps investors balance today’s needs with tomorrow’s
goals, through pioneering digital tools and personalized, smart
guidance online and from seasoned financial consultants. To learn
more about E*TRADE’s trading and investing platforms and tools,
visit etrade.com.
For useful insight from E*TRADE and third-party investment
professionals, follow the company on Twitter, @ETRADE.
About E*TRADE Financial
E*TRADE Financial and its subsidiaries provide financial
services, including online brokerage and banking products and
services to retail customers. Specific business segments include
Trading and Investing and Balance Sheet Management. Securities
products and services, including stocks, bonds, mutual funds,
options, and ETFs are offered by E*TRADE Securities LLC (Member
FINRA/SIPC). Managed Account Solutions are offered through E*TRADE
Capital Management, LLC, an investment adviser registered with the
Securities and Exchange Commission. Bank products and services are
offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or
its subsidiaries and affiliates. More information is available at
www.etrade.com.
ETFC-G
About ResearchNow
ResearchNow, a leading digital data collection provider, powers
market research insights. They enable companies to listen to and
interact with the world’s consumers and business professionals
through online panels, as well as mobile, digital, and social media
technologies. Their team operates in over 20 offices globally and
is recognized as the market research industry’s leader in client
satisfaction. They foster a socially-responsible culture by
empowering their employees to give back. To find out more or begin
a conversation, visit www.researchnow.com.
About the Survey
This wave of the survey was conducted from July 1 to July 12 of
2015 among an online U.S. sample of 1004 self-directed active
investors who manage at least $10,000 in an online brokerage
account. The survey has a margin of error of ±3.1 percent at the 95
percent confidence level. It was fielded and administered by
ResearchNow. The tracking study fields quarterly at the beginning
of each quarter and does not reflect data from the complete
quarter. The panel is broken into thirds of active (trade more than
once a week), swing (trade less than once a week but more than once
a month), and passive (trade less than once a month) investors. The
panel is 65 percent male and 35 percent female with an even
distribution across online brokerages (including E*TRADE and its
peers), geographic regions, and age bands.
Referenced Data
To what extent do you agree or disagree with the
following statements?
**The ability to monitor my investments
and execute trading decisions on the go is critical to me.
**
TOTAL AGE: 25-34 AGE: 35-54 AGE: 55+ %
Agree/Strongly Agree 63% 72% 68% 54%
**I plan to use my
mobile device to manage my portfolio more frequently in the next
year. ** TOTAL AGE: 25-34 AGE: 35-54 AGE: 55+ % Agree/Strongly
Agree 48% 69% 50% 33%
Approximately
how often do you use an investing and trading financial app on your
smart phone? TOTAL AGE: 25-34 AGE: 35-54 AGE: 55+ Once a week
or more 35% 51% 37% 24% 2-3 times each month 9% 14% 11% 5% About
once per month 6% 7% 7% 5% Less than once per month 9% 7% 10% 9%
I do not have/use an investing/trading
app
41% 21% 35% 57%
And which of the following do you find
most helpful when it comes to saving for retirement?(Select
all that apply)
TOTAL AGE: 25-34 AGE: 35-54 AGE: 55+
Staying up-to-date on the markets and
myinvestments through research and the news
58% 47% 56% 66%
Using online tools to determine how much
youneed to save each month to retire the wayyou want to
37% 42% 40% 34% Talking with an investment professional 32% 33% 32%
32% Attending in-person seminars on smart investing 17% 17% 16% 17%
Watching online tutorials or videos on how
to savefor retirement
15% 18% 14% 14% Other 2% 2% 1% 4%
Which of the following characters
better represents the type of relationship you want with
yourbroker?
TOTAL AGE: 25-34 AGE: 35-54 AGE: 55+
R2D2. A copilot with a diverse skillset
that comesto your aid when you need him, offering a varietyof
helpful tools.
75% 72% 75% 78%
C-3PO. A constant companion with a focused
setof skills that will always offer you advice.
25% 28% 25% 22%
Important Notices
E*TRADE Financial, E*TRADE, and the E*TRADE logo are trademarks
or registered trademarks of E*TRADE Financial Corporation.
© 2015 E*TRADE Financial Corporation. All rights reserved.
E*TRADE Financial Corporation and ResearchNow are separate
companies that are not affiliated. E*TRADE Financial Corporation
engages ResearchNow to program, field, and tabulate the study.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150831006092/en/
E*TRADE Media
RelationsThayer Fox,
646-521-4418thayer.fox@etrade.comorE*TRADE
Investor RelationsBrett Goodman,
646-521-4406brett.goodman@etrade.com
E TRADE Financial (NASDAQ:ETFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
E TRADE Financial (NASDAQ:ETFC)
Historical Stock Chart
From Apr 2023 to Apr 2024