Press Release

Corporate Insight Announces Release of New Brokerage Experience Benchmarks, an Annual Study Ranking the Digital Experiences of Brokerage Firms

Issued by Corporate Insight

May 23, 2023

The 2023 edition of study puts Charles Schwab first in both mobile and desktop, with Fidelity and E*TRADE filling out the top three spots

NEW YORK — Corporate Insight, the leading provider of competitive intelligence and customer experience research, today announced the release of its new 2023 Brokerage Experience Benchmarks. These annual studies evaluate the individual investor experience offered by 20 leading brokerage websites and mobile apps. In the 2023 edition of these reports, Charles Schwab ranks #1 in both desktop and mobile experience. Fidelity (2^nd place Web, 3^rd place Mobile) and E*TRADE (3^rd place Web, 2^nd place Mobile) fill out the top three spots for both platforms.

“Our Brokerage Experience Benchmarks provide in-depth data and insights on the retail brokerage competitive landscape,” said Michael Ellison, president of Corporate Insight. “These annual studies combine user experience analysis with investor survey data to identify industry leaders, best practices, and the relative strengths and weaknesses of each firm’s digital experience.”

The Benchmarks leverage data from Corporate Insight’s February-March 2023 investor survey, shedding light on investors’ digital preferences and behavior. Key findings include:

• App users are highly engaged with their investments, with 45% saying they log in to their firm’s app everyday versus 24% of website users
• An overwhelming majority (94%) of mobile app users say their brokerage firm’s app is “very important” or “extremely important” to them; 84% of website users assign this level of importance to the website
• Account information is the most valuable component of the brokerage digital experience, with 93% of website users and 91% of app users saying this is “very important” or “extremely important” to them
• Benchmark scores are consistently lower for mobile apps than for websites, which reflects a significant industrywide functionality gap between the two platform types

The Experience Benchmarks’ analytical frameworks are built on over 25 years of research to provide a clear view of how the nation’s top brokerage websites and mobile apps stack up against one another in terms of design, navigation, functionality and usability. Categories analyzed include:

• Account Information
• Design & Navigation
• Account Servicing
• Trading
• Research & Tools
• Profile & Settings
• Support
• Prospect Experience (for desktop only)

Corporate Insight covers the following brokerage firms in the Brokerage Experience Benchmarks:

• Ally Invest
• Ameriprise
• Charles Schwab
• Citi Self Invest
• E*TRADE
• Edward Jones
• Fidelity
• J.P. Morgan Self-Directed Investing
• Merrill Edge
• Merrill Lynch
• Morgan Stanley
• Raymond James
• RBC
• Robinhood
• TD Ameritrade
• TIAA
• U.S. Bancorp Self-Directed Investing
• UBS
• Vanguard
• Wells Fargo Advisors

For more information on the new Brokerage Experience Benchmarks, click here.

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