Philstocks Financial Inc., a brokerage firm planning to conduct an initial public offering this month, said it will focus on attracting the so-called ‘millennials’ to boost the growth of its online stock brokerage business.
Philstocks vice president Joseph Tarrobal said millennials, or those in the age bracket of 18 to 29 years, accounted for the lion’s share or 79 percent of its online accounts.
“The most tech savvy generation would be the millennials. Born during the early 80s to the late 90s, millennials, of all the generations, are the ones who are able to maximize technological advances available today,” Tarrobal said.
“Technology came in handy to them during their formative years, giving them leverage in learning things faster. Millennials know how to interact with what technology can offer, recognizing immediately how things can and should work to their advantage,” he said.
Philstocks Financial said it was undertaking steps to lure the younger generation to invest into the stock market, including improving its websites and creating mobile applications for trading.
He said aside from having an advanced trading platform, Philstocks Financial also aimed to spread and share information, educate and be one with the millennials’ dreams and aspirations.
“Philstocks teach through mediums and channels easily understood by the millennials and heavily maximizing the strength of social media’s reach,” said Tarrobal.
Philstocks Financial educates millennials to trade and make profit so they can do the things they want, like going on vacation, buying a fashionable shoe or have the liberty of creating trivial financial hashtags of achievements to tweet, he said.
Philstocks helps the millennial investors achieve small joys in life, he said.
Philstocks Financial is selling 98.88 million shares at an offer price of P1.88 per share to raise as much as P185 million.
Proceeds would be used to finance the expansion of current IT infrastructure and software development and undertake marketing and promotions of its online stock trading programs.