E-Trade’s Monthly Brokerage Metrics: Sustained Growth Momentum In Customer Assets In July
E*Trade Financial (NASDAQ:ETFC) saw its key monthly metrics improve in July. New customer assets continued to grow at a phenomenal rate, partially due to the impact of Fed rate hike in December 2015. Going forward, the expectations of a probable rate hike in early 2017, coupled with the introduction of E-Trade’s robo-advisory service, could help sustain the growth momentum in this stream.
After remaining neutral for most of the year, E-Trade’s daily average revenue trades (DARTS) witnessed a slight decline in July. This was despite a mild increase in end of period brokerage accounts. With over 3.3 million accounts at the brokerage, 147,000 trades a day roughly translates to about 11.28 trades per account on an annualized basis. The table below provides a quick breakdown of some key monthly metrics.
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