|Brokerage Website Audit|
Corporate Insight began tracking brokerage websites in the 1990s through our e-Monitor research service. In the early years, these sites were simple, utilitarian platforms that presented basic customer account information and delayed market data. Today, brokerage websites are far more advanced, offering real-time updated account information, investment research, trading and other features that were once available only to institutional investors.
Brokerage Audit Overview
The Brokerage Audit enables clients to take a “20,000 foot” view of the competitive landscape to understand how their firm’s online presence stacks up in key areas such as account information, investment research, education resources and trading platforms that are integral to a strong user experience. The Audit also allows clients to zoom in when appropriate to take a close look at individual features, like account balance information, stock research or mutual fund trading, to understand their own strengths and weaknesses. We have conducted Audits for most of the firms that subscribe to our e-Monitor service and several have repeated the exercise to track their progress as they implement our guidance.
A large-scale survey of 1,000 online brokerage customers was conducted in 2004, 2007 and again in 2011 to gather consumer input regarding the website features and services that matter most to them. The results help establish importance weightings that we apply to scores, reflecting the preferences of different consumer demographic groups.
The Brokerage Audit covers nine categories, which are further broken down into 58 sub-categories and 300+ individual attributes. Our current framework consists of the following categories and sub-categories: