Stephen Callahan is Trading Behavior Specialist at Firstrade.
What were the key theme(s) for your business in 2024?
As we approach the close of 2024, we at Firstrade are reflecting on our goals and assessing how successful we’ve been in achieving them. Our focus this year was on growth and improving efficiency with our existing staff. We’ve made significant progress by interviewing and hiring new personnel, and we’ve promoted members within our two call centers. With staff located in both New York and Florida, as well as remote and overnight representatives, we have greater flexibility to serve our growing customer base. Additionally, we introduced FirstradeGPT to streamline research inquiries. Expect more of exciting developments in the new year.
What are you most excited for in 2025?
Our IRA Match Bonus promotion will incentivize new customers to open accounts and contribute funds, as well as encourage current clients to transfer or rollover retirement assets. The promotion runs through March 2025, with benefits extending until April 2028. Our goal is to attract new clients while establishing lasting relationships. Both new and existing clients will also discover the other advantages of having an account, including first-rate research, a user-friendly trading platform, a state-of-the-art options platform, all with no fees. Firstrade was one of the first firms to set the standard for getting more for less, and we will continue to lead the way.
While we are not market forecasters, we are preparing for the new year by maintaining our commitment to customer service and expanding the Firstrade brand to the trading community. As long as we remain nimble and responsive to clients’ concerns and market trends, we’ll be well-positioned for 2025.
Like most market observers, we are pleased with the current bull market and hope it continues. The tailwinds leading up to the presidential election have only strengthened. When much of the market was tech-heavy but poised to rotate into other sectors, we were ready. President-elect Trump’s statement that he wouldn’t fire Fed Chair Jerome Powell may have sent a message that he aims to avoid market disruption. Additionally, Trump’s comments about not cutting Social Security could encourage investors to become more creative or speculative with retirement assets. The potential for tax cuts and deregulation may provide further stimulus.
We expect our new overnight trading offering, along with the IRA and transfer promotions, to drive new account enrollments and increase trading volume.
As long as we continue to raise Firstrade’s profile in the retail investment community, offer exceptional service with no fees, and remain agile (like a boxer) in responding to market changes, we’ll continue to thrive.
