Stockbroking involves the buying and selling of stocks and other securities for both institutional and retail clients. Over the years the brokerage industry has advanced since brokers not only compete by relationship, service and price, they also compete regarding commission and the quality of duty.
There are many companies at the top of the brokerage industry like CMC markets, but there are many more still fighting for their fair share of the top ranks in the brokerage industry.
National Bank Direct Brokerage is a company to watch out for since it has decided to improve it services and approach and most especially ensuring investor satisfaction. NBDB decided to get serious and stop the motions. It has an online advice support called InvestCube and also provides an all-round service for DIY investors. NBDB has decided to up its game and should be watched out for.
TD Direct Investing is also among 20 up and comers in the brokerage industry since it has managed to iron out its flaws by providing account reporting tool and has also managed to modernize its website this is a strategy to attract more clients, and therefore it is upcoming in the industry.
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Raymond James Financial, which was also not doing well, has decided to come up and improve diversification, therefore, reducing investment risk.
eOption is also coming up in its respect as it offers lower commissions hence making trading cost effective. It has also enhanced the front end of its platform to make it more user-friendly and client efficient.
Capital One Sharebuilder is also a company to look out for as it has improved its services through adding features that enable the client to understand their portfolio.
Wells trade is also working to be at the top as it provided personalized service to its customers, with online and mobile support. Also, there is no minimum balance to establish an account hence its attractive to clients. Therefore, this will help in making it climb the ladder.
LPL Financial was not doing so well as of 2015 final quarter. Hence it has drawn it energy towards improving operation and capital plans; through introducing multi-client portfolios designed to improve efficiency and save time.
BMO Investorline is another superior firm that has not been leading since 2005 but is working towards adding commission-free trading of exchange trade funds as its strategy to be at the top.
FirstTrade is also back eyeing for the top ranks as it has improved its services by introducing a mobile application provide better services to clients and a more interactive site like translation to Chinese.
RBC Direct Investing is also an up and comer as it has added commission free ETFs and invoked the application of Mawer mutual funds, where the funds do not sell commission to the stock seller.
Goldman Sachs is also seeking a comeback by creating a performance review system and also drawing close attention to young investors. Hence it is coming up slowly but steadily.
Scotia iTrade firm is another up and comer that has focused its energy on personalized account performance reports and a well-stocked library of ETF and stock research.
Credential Direct is coming up as it has improved its boring site and better services to its customers. For instance, a flat charge for every customer, which is a caprice since it, had long resisted cheaper stock trading commissions.
Ameriprise Financial is also coming up by reinforcing investor concerns, increased volatility and enhancing the value of providing advice and solutions to clients.
Folio Investing is coming up as it is dedicated to transforming the brokerage industry to enable clients to invest better through; patent innovations and determination to help clients.
Livevol has decided to stage itself in a different light as it offers a trading fee depending on the number of traded shares, compared to other firms which have a flat fee.
Zack trade is also keen on attending to client’s need and provides them with tools to enable better investment options.
Merrill Edge firm has also provided high-quality services to its clients through easy to use tools and standard pricing compared to its competitors.
Oppenheimer firm is also working its way to the top by making strategic leadership changes, expanding its team and technological advancements hence improving its services.
SunTrust has also done well improving services to clients through viewing brokerage account balances, and a user-friendly online platform convenient for users.
All these companies are up, and comers in the brokerage industry and all of them are trying different strategies to be at the top position. Some may be well ahead of others but at the end of the day they are all up and comers.