Philstocks banks on millennials for growth

Philstocks Financial, Inc., the former Accord Capital Equities Corporation, is focusing on the so-called millennials to propel the growth of its online stock brokerage business.

According to Philstocks vice president Joseph Tarrobal, millennials currently make up 13.1 percent (22,872) of the whole online market in the Philippines.

However, for Philstocks, accounts from the age bracket of 18 to 29 years old account for the lion’s share or 79 percent (5,772) of all online accounts.

According to the firm, it has grown its online user base by 220 percent in just 11 months from 5,000 as of the end of 2014 to more than 15,000 as of November 30, 2015.

The staggering growth is unparalleled in the industry, which makes Philstocks one of the major contributors in the overall market growth of 65 percent.

Tarrobal said the growth can be attributed to millennials seeking other investment alternatives plus the fact that Philstocks trading platform has known to be the most reliable in the industry.

“Our system has been tested and proven to be reliable even during spikes in trading activity,” he noted.

“The most tech savvy generation would be the millennials. Born during the early 80’s to the late 90’s, millennials, of all the generations, are the ones who are able to maximize technological advances available today,” Tarrobal noted.

He explained that “technology came in handy to them during their formative years giving them leverage in learning things faster. Millennials know how to interact with what technology can offer, recognizing immediately how things can and should work to their advantage.”

“Philstocks has been keen on this generation for the past years, digitally evolving every step of the way, from website improvements to creating a mobile app for trading,” Tarrobal said.

Just like the millennial, Tarrobal said “Philstocks is adaptable to the very fast-paced technological times. They both should be, to survive this digital times.”

However, he stressed that Philstocks isn’t just here to show off their advanced trading platform, they also exist to spread and share information, to educate, and be one with the millennial’s dreams and aspirations.

“Philstocks teach through mediums and channels easily understood by the millennial and heavily maximizing the strength of social media’s reach,” said Tarrobal.