HOOD - Fintechs brokerages face slower growth environment after pandemic frenzy

When the government was sending out "economic impact" checks and more people than usual found themselves subject to pandemic lockdowns, online trading apps attracted a slew of new users. Since then, growth of fintech brokerages and robo-advisers has softened and reversed now that stimulus payments are in the past and inflation is eating away at consumers' disposable income. That's likely to continue, said Morning Consult in a recent report. "First, the end of stimulus payments, followed by high inflation, means less discretionary income and ever-dwindling financial cushions for consumers, resulting in less 'play money' for those who used personally managed brokerage accounts or robo-advisors to dip their toes into the investing world," said Morning Consult's Charlotte Principato. Fintech trading app businesses will need to adjust to navigate the evolving environment and slower pace of new accounts. A survey by Morning Consult found that fewer people were using apps such as

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Fintechs brokerages face slower growth environment after pandemic frenzy