Zecco.com Account Growth At 30%

There's no denying the impact that the financial crisis has had on the nation. During a recent interview with Zecco CEO Michael Raneri, the entrepreneur spoke about the impact it has had on individual investors. Full Interview: The Rise Of The Financial Social Network With Zecco CEO Michael Raneri “We are seeing, and I think the industry as a whole is seeing, much lower retail, self-directed volume,” Raneri said. “Even though the markets have appreciated quite a bit this year, the volume has been low.” Raneri believes that this is because the recession is much more visible to the self-directed investor. “They see friends and family out of work, they're much more conservative with their money and not really willing to put it at risk,” he said. Despite the grim outlook, Raneri believes that there is light at the end of the tunnel. “In the last couple of months, we've seen quite a bit more people enter the market,” he said. “The evidence I have for that is our account growth, [which] has grown at about 30%. We're growing at about 20% to 25% in assets.” Thus, Raneri assures us that the money and the accounts are coming in. “[But] the trading volume is staying soft.” To hear more from Zecco's chief executive – including his views on the transformation of financial services – don't miss Benzinga's full interview with Michael Raneri.