Online brokerage E*Trade has entered an agreement with Target Stores to open 22 further instore financial services centres within selected retail outlets. Six E*Trade Zones have already been opened in Alabama, Colorado, Georgia and Texas.
E*Trade Zone locations are approximately 400 square feet, and enable customers to open accounts and access stock quotes, personal watch lists, market updates, trading capabilities, portfolio reviews, and financial research, news and commentary.
Customers who visit the E*Trade Zones can receive onsite assistance from licensed agents. All six Zones are equipped with ATMs, for the conduct of banking transactions with E*Trade Bank. In addition, each Zone contains plasma screens and video monitors which play original E*Trade content and cable financial news shows allowing investors to keep apprised of current financial markets.
Jerry Gramaglia, president and chief operating officer, E*Trade Group, comments: "By announcing 22 new E*Trade Zone locations, we're building upon our touchpoint strategy to give our customers the strong value and convenience of a branded physical presence and a personalized customer experience, while also allowing the company to penetrate the mainstream market with superior cost efficiencies."
Through an agreement between the two companies announced earlier this year, E*Trade will also become the exclusive provider of ATMs in traditional Target stores and Target Greatland stores, installing more than 1000 E*Trade-branded units over the next two years.