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Non-Tech : E*Trade (NYSE:ET)
ET 16.55+0.9%3:59 PM EST
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To: Curtis E. Bemis who wrote (8924)10/15/1999 1:16:00 AM
From: Spytrdr  Read Replies (2) of 13953
 
EGRP customers tend to be younger.
also, many people are just testing the waters with online trading, opening small accounts first but keeping the bulk of their assets at primary accounts at "traditional" institutions.
as they feel comfortable, they will shift and consolidate more and more of their assets into E*Trade.
Schwab has the advantage that it started early from a larger base, converting some of their discount brokerage customers of old into online trading customers.
the fact that traditional brokerages feel so threatened by this online trading revolution and are so scared of losing customers and assets, is indicative that this is indeed what's happening and they know it.
they know the rules of the game have changed.
E*Trade has cracked the code!
:-)
quarter reports came out that showed clearly how customer asset growth had stalled at Merrill Lynch et al. while growing rapidly at Schwab.
many of us probably have other accounts too at traditional brokerages and traditional banks, don't we?
in my case, e.g., i've been transferring more and more to my E*trade account, even closing other accounts elsewhere completely, but that took some time since i opened my egrp account.

___
"Another factor-- It appears as though the average SCH
customer is wealthier than the average at EGRP. We are
mere children in E*Trade. Why might that be ??"
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