September 18, 1998
Discount Brokers Pick Up Online
Discount brokerages will control more than 50 percent of all online personal finance activity by 2002, research by Jupiter Communications, New York, shows. The research also indicates that while financial institutions have uniquely positioned themselves as the traditional holders of consumer assets in order to become the portals for personal finance, it is only the discount brokerages that have successfully pursued an affinity portal strategy.
Jupiter said these discount brokerages have managed to stake their claim in this market by making significant investments in customer acquisition through portal tenancy deals, national off-line advertising and discount fee incentives.