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89: President of BMO InvestorLine on exploding trading activity for discount brokerages in 2021
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In this episode I speak with the president of BMO InvestorLine, Silvio Stroescu, to get his response to the long wait times for clients calling in for customer service that all discount brokerages seem to be experiencing.
Silvio provides some shocking numbers showing the absolute explosion in new account openings and trading activity. Year-over-Year increases in trading activity have reached +200% in some recent months. The first nine days of 2021, which is really only five trading days, saw more transactions than all of January 2020.
Why the surge? And what are they doing to reduce wait times. Silvio candidly answers these questions and more.
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