Comscore Finds Increased Consumer Interest in Brokerage and Investment Accounts

Rhea-AI Summary

Research from Comscore (NASDAQ: SCOR) reveals a surge in consumer interest in brokerage and investment accounts during Q1 2020. Amid COVID-19 market volatility, account applications hit all-time highs with account shoppers increasing by 39%, application starts by 92%, and completions by 104% from Q4 2019. Search channels contributed to an uptick of 2.7 million in shopper volume. Additionally, the consumption of financial education content saw a 15% rise, reaching 13.1 million unique views. This highlights a strong demand for financial guidance during uncertain times.

Positive

• 39% increase in account shoppers in Q1'20 compared to Q4'19.
• 92% rise in application starts from Q4'19 to Q1'20.
• 104% growth in completed applications in Q1'20 versus Q4'19.
• 2.7 million increase in shopper volume from Q1'19 to Q1'20.
• 15% growth in unique views of financial education content.

Negative

• None.

RESTON, Va., June 17, 2020 /PRNewswire/ -- Amidst stock market volatility and uncertainty during the COVID-19 pandemic, new research from Comscore (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, shows consumer interest in brokerage and investment accounts and financial education increased significantly during the first quarter of 2020 as account application and opening volumes reached all-time highs.

Using insights from Comscore's Custom Quarterly Brokerage Benchmarker, which includes data from U.S. desktop and mobile, Comscore's 2020 "Buying the Dip or Weathering the Storm? Brokerage Shopping During the COVID 19 Pandemic" explores the impact of the COVID-19 pandemic on the brokerage and financial investing industry and provides insights on how brokerage and online investment brands can adapt to the needs of a shifting customer base.

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.

To read the full findings of this additional research, download the 2020 "Buying the Dip or Weathering the Storm? Brokerage Shopping During the COVID 19 Pandemic" whitepaper. To learn more about how Comscore can help with insights for financial services, brokerages, and investment brands, please contact us.

About Comscore
Comscore (NASDAQ: SCOR) is a trusted partner for planning, transacting and evaluating media across platforms. With a data footprint that combines digital, linear TV, over-the-top and theatrical viewership intelligence with advanced audience insights, Comscore allows media buyers and sellers to quantify their multiscreen behavior and make business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement. To learn more, visit www.comscore.com

 

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SOURCE Comscore

FAQ

What does Comscore's recent research reveal about brokerage account applications?

Comscore's research shows that brokerage account applications surged in Q1 2020, with application starts increasing by 92% and completions by 104% compared to the previous quarter.

How has COVID-19 affected consumer interest in financial education?

The consumption of financial education content rose nearly 15% in Q1 2020, indicating a heightened demand for guidance during the pandemic.

What was the increase in account shoppers reported by Comscore?

Comscore reported a 39% increase in account shoppers in Q1 2020 compared to Q4 2019.

How has Comscore measured the impact of the pandemic on financial services?

Comscore used its Custom Quarterly Brokerage Benchmarker to analyze data on account openings and consumer behavior during the COVID-19 pandemic.

What key trends did Comscore identify in the brokerage shopping report?

Key trends include increased application volumes, higher engagement with financial education content, and the importance of search channels in driving shopper volume.