Steve Bowen,
I agree with your point. Clearly, I consider our committment to online and internet investors a significant one. We could easily, for no cost to us, have internet trading. Infact, as we clear through pershing, a division of Donaldson Lufkin, we have immeidately available to us the same technology as DLJ's online system. We could set itup so all orders are routed to our firm, etc. What is holding us back is that for the most part, we still feel there are intangibles you get in relaying the order to a trader, trader feedback, suggestions while you wait to see if you get it inbetween on selectnet, etc. The technology is there...its free to us, we are just trying to figure a way to make it fit within our business model, the way we currently support clients. Infact, I am hoping that we are there in the next 6 months.
Currently, we offer a real time chat site whereby clients and visitors can communicate with our traders. Our traders have Ichat pager usernames so clients who cant get an extra phone can initiate a realtime, personal chat session.
While a couple of minutes might seem ok, there is a lot of money that can be saved in that few minutes. You shouldnot be handicapped by a few minutes. Some would argue that a few seconds is a handicap and I would generally, generally, agree.
Most firms have tight scrutiny witth email transmissions as do we. We have more latitude because we are a smaller, more flexible firm.
Regards,
Steve@yamner.com |
