Aussie online investors continue to grow in H22021
Australian participation in online investing continued to grow in the second half of 2021 albeit at a slower pace, according to Investment Trends.
In its 2021 2H Online Investing Report, the firm said during the second half of 2021 online investor numbers increased by 21.6% compared to a 66.6% increase in 2020.
Additionally, a number of emerging brands managed to expand their reach, with inflows of new-to-market investors and reactivated investors remaining strong.
Unsurprisingly, millennials and Zoomers (those under 25) dominated the new investors cohort, motivated by lower brokerage/fees, access to offshore markets, and a mobile-first digital offering.
“The report shows these younger investors have embraced the innovative product and pricing features on many emerging platforms,” Irene Guiamatsia, head of research at Investment Trends, said.
“Features like fractional shares look set to receive a response similar to what we’ve witnessed in the US, being welcomed by three in five Australian online investors aged under 25 (Zoomers).”
The report also measured the satisfaction of online investors with their main platforms across 16 key service areas and found that among full-functionality investment platforms – those that offer domestic and international equities – Superhero had the highest satisfaction in six of the 16 key areas measured, including overall satisfaction.
At the same time, Bell Direct and CommSec rounded out the top three for overall satisfaction.
Source: Investment Trends
AUTHOR
Oksana Patron
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
