Fintech Spotlight: Australian-Based Stake Focusing On Long-Term Investors

The pandemic spurred growth in nonprofessional investing, drawing in new stock market investors and brokerages.

Many of these investors have in common the desire to make money. Duration is a factor that separates them.

Those looking for fast riches – who may have also fueled a massive increase in account openings during the early 2021 so-called meme stock craze – often have small balances and usually do not stick around.

Longer-term investors, on the other hand, or those looking for ways to grow their wealth over longer time horizons, are the stickiest and best customers to work with.

With that being said, as the world goes back to work, those newer brokerages, some of which are publicly listed, are now struggling with growth.

Unlike many of its competitors, however, Stake, an Australian-based brokerage founded in 2017, is still growing according to the firm’s senior product manager, Alexander Robertson.

“There’s been a lot of new entrants into the market; there are a lot of people coming in and trading at high frequencies and with low trading balances,” Robertson says. “The customer type we’re really aiming at is the higher-value, longer-term investors who are genuinely interested in their financial wealth.”

To read more, please click on the link below…
Source: Fintech Spotlight: Australian-Based Stake Focusing On Long-Term Investors | Benzinga