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 indicate that mobile preferences among investors continue to evolve:
More than half of investors surveyed want their investing app to have capabilities and functionality that rival their desktop.
Nearly two out of three investors surveyed believe mobile is critical to monitor their investments.
More than three out of five investors surveyed are interested in checking the markets on wearables, up from less than two out of five in Q3’15.
More than one in seven investors surveyed are using an investing app to perform activities typically reserved for the desktop, such as watching educational videos, researching investments, placing orders, and moving money in and out of their accounts.
“Mobile is increasingly sophisticated in its functionality and, in fact, for some investors, it is rendering desktops unnecessary,” said Kunal Vaed, SVP of Digital Channels at E*TRADE Financial. “Today’s investors seek a comprehensive toolkit for onboarding, idea generation, research, execution, and monitoring on mobile devices — all with the effortless interactions and engaging design of apps. Striking the right balance between simplicity and complexity is critical for our industry to truly meet investors’ needs.”
Mr. Vaed shared additional insight on mobile trading and investing trends:
Trading through mobile is trending upwards. Recent data suggest that more investors use smartphones to trade than ever before. In fact, among E*TRADE customers, total trades and options trades on smartphones are up 24 percent and 41 percent from 2015.
Mobile is the new desktop. Mobile, once primarily a tool for active traders, has shifted to a mainstream investor platform, delivering a robust suite of investing and trading features once only available on desktop. In response, financial services firms should ensure their digital experiences can seamlessly scale to mobile platforms through responsive design, much like E*TRADE’s Adaptive Portfolio.
One app, many journeys. Brokers need to design mobile apps to accommodate most user journeys across active traders, mainstream investors, and stock plan participants. Mobile apps offer unique ways to tailor a user’s experience. For instance, E*TRADE’s iPhone app users can customize their menu, home page, and portfolio information.