Comscore Finds Increased Consumer Interest in Brokerage and Investment Accounts
Using insights from
Key takeaways include:
- In Q1'20, consumers flocked to open brokerage and investment accounts. Non-customer account shopping activity reached all-time highs across each step of the acquisition funnel. In Q1'20, account shoppers grew 39 percent, application starts grew 92 percent and application completes increased 104 percent, compared to Q4'19.
- Search channels drove shopper volume, up 2.7 million in Q1'20 compared to Q1'19. Direct type-in channels, most likely due to offline marketing and branding, drove conversion, converting 20 percent of shoppers who were referred via typing in a particular brand's site directly.
- Desktop remains key for application starts and completes in Q1'20, though applications through mobile also saw increases. Desktop application complete volume grew 104 percent from Q4'19 to Q1'20 while mobile grew 30 percent.
- Financial education content consumption reached all-time highs in visitation volume and engagement, indicating a strong need for guidance and advice. Visitation to such educational content grew nearly 15 percent, from 11.4 million unique views during the historic Q1'19 bull market, to 13.1 million unique views in Q1'20. Additionally, non-customers are spending more time viewing such educational content, averaging nearly three minutes per visitor, up from 2.4 minutes per visitor last year.
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Neil Ripley, Comscore, Inc., (646) 746-0579, email@example.com