Carly Fink, president and founder of Provoke Insights, published a new article in the Journal of Business Strategy.

Companies like Fidelity, eTrade, Charles Schwab, Saxo Bank and Vanguard have dominated the do it yourself online trading platforms since the mid-1990s. What made these platforms so popular is twofold: lower cost of commissions and accessibility. In recent years, there has been an influx of new competitors into this space.

Millennial traders are gravitating to more modern platforms on the market like Robinhood, Acorns and Stash. These platforms provide even lower commissions, more functionality and interactivity. As accessibility, ease and no-fee stock trading are no longer differentiators, but rather barriers to entry, brands need to move beyond functionality.

Carly examines how brands need to understand and research what makes a millennial loyal to a financial institution.