The Future of Online Brokerage: The Strong Get Stronger

Long-term trends are reshaping the online brokerage business and widening the gap between industry winners and losers.

Boston, September 2, 2021 – Online brokers have enjoyed extraordinary growth since the onset of the COVID-19 pandemic, with millions of retail investors opening new accounts and trading stocks and options with unprecedented frequency. But this growth story has obscured a number of emerging secular trends that promise to reshape the business in fundamental ways. Firms that understand the implications of these trends and adjust their strategies accordingly will be well-positioned to succeed in this new environment.

This report examines the current state of the online brokerage industry, the drivers behind its recent growth, and the key trends that will shape the business in the coming decade. It is based on discussions with 20 industry executives at a broad range of firms within the brokerage ecosystem as well as secondary research.

This 60-page Impact Report contains 20 figures and nine tables. Clients of Aite-Novarica Group’s Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Ally Invest, Apex Clearing, Charles Schwab, Carta, Citi, Coinbase, E-Trade, Fidelity Investments, Interactive Brokers, J.P. Morgan Chase, M1 Finance, Merrill Edge, MoneyLion, Morgan Stanley, PNC, Robinhood, SoFi, SOGOTRADE, Stash, Tastyworks, TD Ameritrade, TradeStation, TradingBlock, TradeZero, Truist, U.S. Bancorp, Vanguard, Webull, and WellsTrade.

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