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Schwab for example has dropped its old squeamishness

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Unformatted text preview: ket, the threat comes from the traditional houses with their established brand names, fabulous sources, and global reach. What began as a battle largely about the cost of individual transactions has become one about the quality of the technology—especially its ability to deliver rapid and efficient execution of trades—and of the ancillary services the brokers offer. Schwab, for example, has dropped its old squeamishness about giving sharebuying advice . . . Schwab will now give advice, so long as it is “unconflicted.” . . . There is, of course, a mind-boggling array of financial data, newswires, advice, gossip, and so on available on the net at no charge at all. So the brokers are having to expand their services in other ways too. These may include, for example, alert systems, that will inform the customer by e-mail, or message to a mobile phone, pager or PDA, when a particular share price has reached a trigger level. The brokers are also competing by offering banking and money market accounts. Schwab, for example, already provides an electronic bill-payment service. E*Trade last year...
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