Why Read This
Mobile has become a high priority for eBusiness teams at wealth management and investment firms. In the US, the proportion of online adults who use the mobile channel to manage their investments rose from 7% two years ago to 11% at the end of 2010. To help mobile strategists at wealth management firms calculate the potential return on investment (ROI) of mobile initiatives, Forrester developed a model based on the estimated costs and projected benefits of launching a mobile website, a downloadable app, and SMS alerts in support of mobile investing and trading. Our model yields two separate ROI estimates: a 31.2% return in the first year for a direct brokerage firm with 1 million clients overall, and a 17.7% return in year one for a full-service investment firm of the same size. As more investors adopt mobile, the ROI will improve.