Enhancing the Client Experience to Capture the Self-Directed Investor

BISA OneSource – With increased regulatory pressure and fluctuating market conditions, banks continue to search for new ways to generate revenue. As the self-directed investment channel continues to grow at a rapid pace, banks are being forced to re-evaluate their wealth management strategy to support the increased demand among investors for more self-service tools that increase customer engagement across digital channels like mobile and social. According to a recent Aite report, in spite of the significant percentage of Gen X and Y investors removing investments from their banks, close to 40% of these investors still consider a bank as their primary investment provider (including private banks). By contrast, only 20% of younger investors consider an online brokerage firm as their primary investment provider. In order to combat brokerages and their offerings, banks need to meet the young investors’ demands to solidify these relationships. For banks, continually improving the client investment experience is an essential element in gaining a competitive edge and maintaining customer assets.


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