2024 was yet another year of strong growth for Avanza, with the second-highest net inflow ever. Gustaf Unger took over as CEO, and we set our strategic priorities with updated targets through to 2030, which can be read more about here. Inflation in Sweden stabilised around the target of 2%, leading to interest rate cuts and prospects for an improved economy for households, which is also expected to increase the room for savings. A slightly higher level of volatility during the second half of the year positively affected customer activity, and the trend towards more foreign exposure continued. Global equity funds were the most purchased fund category throughout the whole year. The pace of launches was high, and a focus area during the year was to further improve the experience for true stock market enthusiasts. A new analysis tab with more report data and historical key figures was developed, along with the ability for advanced technical analysis through TradingView’s charting tools. Order placement was expanded with algorithmic order placement, TWAP, and VWAP, and through trading via Nasdaq’s dark pool Nordic@Mid, customers can now take advantage of the benefits of being invisible in the market and trade larger volumes without impacting stock prices. Furthermore, market data for exchange-traded funds was improved through a new provider, offering better-quality prices and an even broader selection. For Private Banking customers, a new fund marketplace was launched with unlisted assets. Private Banking and Pro customers can now also hold stocks in a pension account during payout. Additionally, the media site Placera was relaunched in exclusive collaboration with Affärsvärlden.
The conditions in the savings market have changed dramatically over the past two years, and in 2023, the global economy entered a mild recession. This affected households whose ability to save was reduced. However, in light of tougher times, the importance of saving becomes even clearer. With higher interest rates, interest-bearing savings accounts grew in popularity as a savings option, and our own savings account, previously available only to corporate clients, was made accessible to all customers at the beginning of the year. Five new funds were launched within our own fund company, including Sweden's cheapest short-term bond fund and two Article 9 funds. To facilitate sustainable investment decisions, we added sustainability data to the stock pages – among other things, one can now see how gender-equal the companies are and whether the companies' revenues contribute in any way to the UN's global sustainability goals. Stock analyses from Morningstar were added to over 1,000 stocks. Additionally, we included shorting data and history for Swedish stocks and pre- and post-market prices for American stocks. To make managing joint savings easier, we enabled the creation of shared goals through the Savings Goal feature. The mortgage offering was expanded with the Farm Loan, which had been in demand primarily among Private Banking customers.
A challenging year for both Avanza and our customers. War in Europe, rising energy prices, high inflation, real wage declines and a negative stock market has signified 2022. All of this has further enhanced the importance of savings. To be there for our customers we’ve provided information and insights through blog posts, podcasts and social media. On the platform, we’ve made it easier to adjust and pause monthly savings and improved the analysis pages with a more detailed overview of the exposures to different markets and industries. We reached an important milestone in the future proofing of Avanza when our new backoffice system was launched. We launched the Pension Chase, a tool for our customers to find and transfer occupational pension to Avanza – particularly relevant considering the transfer right for unit-linked and occupational pension insurances was further expanded during the year. We launched Avanza Fastighet by Norhammar, one of the cheapest actively managed real estate funds on the market. Also, we signed the Business ambition for 1.5 °C to set science-based emissions targets validated by Science Based Targets initiative to ensure we align with the Paris Agreement.
2021 was another year of the pandemic. Interest in saving was strong and Avanza’s record-high growth continued. We passed 1 million customers who own shares and 1 million who invest in funds. We also reached our financial targets for 2025, four years in advance. An important milestone for Sweden’s pension savers during the year was that transfer rights were improved for unit-linked insurance. There are now greater opportunities to choose for yourself where you want your savings. We expanded our Start offer so that everyone with less than SEK 50,000 in savings capital is refunded all their fund fees. Our fund company launched Avanza Sverige, a Sweden equity index-tracking fund, and monthly saving became easier and more fun with our new milestones and savings targets. In addition, we reduced the fee on our Auto funds, which are now among the cheapest in their niche by far. In uncertain times it is even more important to be there for customers and our podcast reported a record number of listens at 5 million, while the number of unique page views on our blog reached 7 million.
2020 will go down in history as the year the pandemic shook the world. Avanza was impacted as well, not least because of the growing recognition of the importance of savings. As a result, Avanza reported record growth in 2020, with over 300,000 new customers. Another contributing factor was the launch of three new Avanza funds, two of which are actively managed. In the sustainability area, we gave customers the option of excluding industries in the fund list, and now they can also create their own sustainability label. Customers needed a lot of information, and we responded with more blog entries and podcasts than ever. Together with numerous updates to the website and the apps, we also improved the way new savers get started and made it easier to save monthly.
2019 was the year when Avanza won the Swedish Quality Index’s award for the most satisfied savings customers in Sweden for the tenth consecutive year. At Avanza we always put the customer first. During the year there was the launch of a brand new home page for Avanza.se, with an improved overview of our products and services. We also launched “My pages”, with a personalised homepage in logged-in mode. We took the first steps in Open Banking by enabling Avanza’s customers to view their accounts and loans with other institutions in their account summary, as well as making it easier for them to gather their savings at Avanza. The fund page was completely redesigned and improved to facilitate fund savings and choosing funds for a portfolio. Among other things this included the presentation of sustainability data from Morningstar and a completely new function to find and compare funds. We added Avanza Emerging Markets and Avanza USA to our record low-cost fund offer spearheaded by Avanza Global.
To encourage sustainable investing, Avanza in 2018 enabled its customers to filter and select funds with a low carbon risk score using a new, independent risk measure from Morningstar. Sustainability aspects was implemented in Avanza’s own funds. To provide customers with exciting insight and a deeper understanding of their holdings, we launched “My fund portfolio analysis” and “Your 2018 by the numbers” as well. Our margin loan was improved, but most importantly we launched Avanza Global, the world’s cheapest global index fund for individual investors, according to a survey by Morningstar. This led to an award for "New Savings Product of the Year", and we were also named "Bank of the Year". In addition, Avanza received the Swedish Quality Index's award for Sweden’s most satisfied customers in the savings category for the ninth consecutive year. The net inflow was record high and the number of customers passed 835,000.
To make choosing stocks easier, Avanza in 2017 introduced the Stock Generator, and for funds Avanza Auto, with six automatically managed funds. European equity trading was digitised and Savings Account+ was improved with a higher interest rate. The application process was digitised for margin lending and occupational pension plans for small businesses. Mortgage Loan+, with the market’s lowest average interest rate, was launched in collaboration with Stabelo. Growth was record high in 2017 with the number of customers passing 700,000. Avanza received the Swedish Quality Index’s award for Sweden’s most satisfied customers in the savings category for the eighth consecutive year.
In 2016, Avanza was the first in Sweden to offer real-time deposits from other banks. Free stock trading on the Stockholm Stock Exchange was launched for customers with savings capital of less than SEK 50,000. Private Banking customers received a new price list with the market’s lowest brokerage fees and reduced mortgage rates. A number of digital decision-making tools such as Avanza Play, Stock filters and the Savings Calculator were launched to simplify investing. During the year, Avanza passed a half million customers. Avanza began in a more targeted way to expand its range of decision-making support..
2015 saw the introduction of brokerage-free trading in certificates and mini futures through Avanza Markets, a new price list for international trades, new mobile apps and an option to select sustainable funds. The Portfolio Generator, a first-generation digital decision-making support tool for fund savings, was launched as well.
In 2014, a new office was opened in Gothenburg focusing on occupational pensions and Private Banking. A new price list was introduced with brokerage fees as low as SEK 1. The number of customers further accelerated and exceeded 370,000 by year-end, at the same time that Avanza won the SQI survey of Sweden’s most satisfied customers in the savings category for the fifth time
A totally new site was launched for all customers in 2013, making Avanza the first to offer streamed real-time quotes. During the year, Sweden’s cheapest mortgage loan was introduced for Private Banking customers.
A new savings alternative with additional tax benefits called the Investment Savings Account was introduced on the site in 2012. Avanza passed 280,000 customers by the end of the year.
Awards
Awards
In 2009, the offering was expanded to include Super Loan, Sweden’s cheapest margin lending product. In the following year, Avanza launched Savings Account+, enabling customers to receive a higher interest rate on their savings through a collaboration with other niche banks. In 2010, Avanza was named the winner of the Swedish Quality Index’s (SQI) survey of Sweden’s most satisfied savers. It was the first time that the survey was conducted in this category.
Awards
Awards
In 2006, Avanza launched Sweden’s first no-fee fund, Avanza Zero. Avanza acquired Börsveckan AB with the magazine Börsveckan. Börsveckan AB changed its name to Placera Media Stockholm AB and launched the site placera.nu. While Avanza does not offer advice, it tries to help customers with their investment decisions by providing information and inspiration. Occupational pensions were introduced during the year as a savings alternative at Avanza.
Avanza received a banking license in 2005, thereby becoming a banking company. The subsidiary Avanza Pension, which offers pension and insurance accounts, was founded during the year. Avanza Fonder was founded as well, and the year after received authorisation to engage in fund management business.
The business was expanded in 2004 to include Private Banking for high net worth individuals. Now our more active customers could also trade through special apps and obtain technical analysis through a partnership.
In 2003, Avanza launched Sweden’s first fully Internet-based Individual Pension Savings product. Fondtorget was introduced with various types of mutual funds from a range of companies.
Awards
In 2001, the name Avanza was adopted after a merger of HQ.se, Aktiespar Fondkommission and Avanza. This made Avanza Sweden’s largest online broker. In the same year, the new site avanza.se was launched.
Utmärkelser
Avanza was founded in 1999 as HQ.se by Sven Hagströmer.
