If you try this at a full-service brokerage, you're likely to get a stern lecture.
Version 4 makes Schwab look more than ever before like the full-service brokerage firms it used to scorn.
They have no established broking business to lose and the Internet could help them win valuable customers from the full-service brokerage firms.
He sees Personal Capital providing a transparent, high-quality, mass-customized service for these investors and moving past the paternal, craftsman-like approach of a full-service brokerage or the assembly-line mentality of mutual funds.
Whether you are a do-it-yourself investor with an online brokerage account, or you get investment recommendations from a broker at a full-service brokerage firm, you'll typically receive an account statement monthly, or at least quarterly, and a trade confirmation every time you buy or sell a security.
Next month Wells Fargo, a Californian bank that has pioneered online banking, is expected to roll out an online brokerage service for its banking customers.
Earlier this year Currensee launched the Trade Leaders investment program, which allows users to piggyback on the trades of over 100 top traders by linking their brokerage accounts to the service.
Luckily, our brokerage firm had a portfolio management service that provided high-net-worth clients with direct access to top independent advisory firms.
Consulting firms say they have seen a surge of interest from banks keen to sharpen their service in everything from retail banking to prime brokerage (the financing of trading by hedge funds).
So far, traditional full-service brokers have resisted using the Internet in any way that would cannibalise their existing offline brokerage business.
At the time, it had a significant brokerage operation but did not have the research or investment-banking conflicts of interest that saddled full-service firms.
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