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To: Gary Korn who wrote (3752)	9/2/1999 12:45:00 AM
From: Gary Korn	Respond to of 10027

Online assets seen at $3 trillion in 2003 By Emily Church, CBS MarketWatch Last Update: 11:02 AM ET Sep 1, 1999 NewsWatch NEW YORK (CBS.MW) -- Assets in online brokerage accounts are forecasted to swell to $3 trillion in 2003, up from $415 billion in 1998, according to a bullish report from Jupiter Communications. Some 41 percent of U.S. households with stock investors are expected to directly or indirectly have online trading accounts in 5 years and 30 percent are estimated to manage their bank accounts online, the consultant says in a report released Wednesday. Online brokers are seen leading growth in the financial services sector, the report says. Online account households are seen growing to 20.3 million in 2003 vs. 4.3 million last year. The group has sold off sharply since its peak in April largely on concerns that trading volume and account growth is slowing at the some of the firms. On Wednesday, online brokers Charles Schwab (SCH: news, msgs), Ameritrade (AMTD: news, msgs), TD Waterhouse (TWE: news, msgs) and DLJ Direct (DIR: news, msgs) -- to name a few -- were mainly higher, recouping some losses from a rout on Friday. E-Trade (EGRP: news, msgs) was off 1/4 to 24 3/4. Trading-per-account is expected to ease for the online brokers, but Jupiter expects the group to see rising fees, interest and other services. Revenue from fees and services is expected to represent 80 percent of total revenue for the group in 2003, up from 36 percent in 1998. On the downside, the Jupiter survey found slow customer service response times for the online brokers vs. other types of services firms operating on the Web.