Building a Better Brokerage
Updated: May 20
“If I’d asked people what they wanted, they would have said a faster horse.”
- Henry Ford
This quote has always made me chuckle, because it’s said in retrospect of a success. The car, an obviously revolutionary invention dreamed up by a genius, changed pretty much everything about the world and how it works. Who would have guessed that one invention could have that big an impact across pretty much every facet of our lives? That’s the fundamental difference between invention and re-invention. Invention springs whole from the mind of the inventor. Re-invention, however, disrupts something that already exists, and requires the input of people who are already using a product or service.
Uber was the new way to taxi, originally. Netflix? The new way to blockbuster. WeWork? The new way to office. None of them have ever claimed to be an invention. In each case they saw a market where friction could be removed and disruption would result. In each case, they took massive amounts of customer learning and used it to influence what they were building. They listened to what their customers wanted, and in turn, delivered on that desire. Doesn’t sound revolutionary, but it’s amazing how many things are created before true market need is determined. Countless start-ups have made this mistake, only determining market need once the product is too far baked to make changes. Hence the scrap heap of businesses that never achieve escape velocity.
Creating with our customers
Having launched our new platform earlier this year, we’ve spent the months since talking to as many of you as we can in order to get your frank and honest feedback as to how we can get better. How we can make lots of small adjustments, and some big ones, to our experience to turn you into our biggest advocates in growing our brand. It’s affected our design, our planning and our product roadmap going forward. Our goal is to create an investing experience you can’t get from anywhere else. To co-create a brokerage built out of our customers’ desires.
Starting last month, you’ll have begun to see the fruits of our efforts, a brand-new look and feel based on the input you’ve given us so far. It’s a truly consumer-centric design which we believe is a quantum leap for us in terms of ease-of-us and intuitive layout. The biggest change? A much lighter design to reflect our transparent approach to investing. And It’s only the beginning. Our conversations with you will continue to inform and shape our thinking as we release each new version. In the very near future we’ll be launching tool tips, an upgraded notification center, and easier navigation. In 2021, we’ll be adding more and more social tools, options trading, fractional shares, after-hours trading and recurring deposits. We’re building the brokerage you want out of the conversations we’ve had, and will continue to have, with you.
It takes all of you to build All of Us
We believe that by building All of Us through conversations with you, we’ll earn your trust, your loyalty and your business. The principles behind consumer-centric design all point in that direction. So we’re leaning into it and appreciate you all taking the time to co-create All of Us with us. We’re not sure it’ll take a village to build it, but it will take your cooperation. If you’d like to be a part of our intel team, or just have a great idea for us you’d like to see us consider, you can fill out member feedback here.