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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (8758)	10/5/1999 10:37:00 PM
From: Spytrdr	Respond to of 13953

[B] American Express launches online brokerage service with advisors By Bridge News New York--Oct 5--American Express Co., the world's largest credit card issuer and a leading money manager, said it will launch American Express Brokerage later this fall, offering online trading and financial planning tools as well as access to financial advisors. * * * New York-based American Express said its brokerage service will let customers open accounts instantly, buy mutual funds, get real-time quotes and research, plus it will provide the ability to speak to financial planners online or in person. AmEx is offering online stock purchases and sales for $14.95, though customers with balances of at least $25,000 can buy stocks at no commission. Buying and selling both are free for customers with more than $100,000 invested. Beyond equities, Amex said bonds and options trading will be available. Investors can also choose from 2,000 mutual funds from about 260 managers. "Our new online brokerage represents an important step forward in establishing American Express as a leader in online commerce," said Ruediger Adolf, senior vice president, strategic planning and business development at American Express. The move comes as all kinds of financial services concerns try to capture brokerage business snared by Charles Schwab and Internet start-ups like E*Trade and AmeriTrade. In recent years commercial banks, like Wachovia and First Union, and some old-line Wall Street f ir ms, like Merrill Lynch and Morgan Stanley Dean Witter, have launched online trading services to tap into the overwhelming demand for do-it-yourself investing. American Express is also trying to assert itself as a player in Internet financial services. The company recently introduced online banking and the "Blue" credit card marketed to people who shop online. The brokerage account also draws on the capabilities of the company's American Express Financial Advisors unit, which sells financial planning and asset management services through 9,300 advisors nationwide. Also included in the new services is a cash management account for customers with a minimum balance of $5,000. The account features free, unlimited check writing, unlimited debit card use and ATM access. Customers with qualifying assets of $25,000 or more can receive an American Express Gold Card, with the card's charges debited from the cash management account. The one-stop account model is becoming increasingly popular, with JB Oxford having recently launched its npower product. It too offers brokerage and cash management through one central account. Other features American Express is offering include IRAs, competitive margin lending rates and free dividend reinvestment. American Express first introduced an online investing capability, Financial Direct, in 1996. Customers currently using that service will be upgraded to the American Express Brokerage account. End Bridge News, Tel: (212) 372-7569 Send comments to: equity@bridge.com For charts and historical stories on this company, double-click the following: (BridgeStation and Telerate only): First Call Consensus Earnings Estimate Media://Analytics/Pages:AXP-Earnings-Estimate:/cmd=US;AXP/CF/EST 60-day Price History Media://Analytics/Pages:AXP-Price-History:/cmd=US;AXP[1099ID;60;20]/NVO Two-day intraday price chart Media://Analytics/Pages:AXP-intraday:/cmd=US;AXP[7334ID2] Trailing 12 months Earnings per Share Media://Analytics/Pages:AXP-EPS:/cmd=US;AXP[1584EPS] News stories on this company from Bridge News Media://NewsSearch::/Source=[B]/Symbol=US;AXP/go/newest/Search News stories from all vendors Media://NewsSearch::/Symbol=US;AXP/go/Search Bridge News, Tel: (212) 372-7569 Send comments to Internet address: equity@bridge.com [symbols:US;AXP:US;AMTD:US;EGRP:US;SCH:US;MER:US;WB:US;FTU:US;C:US;MWD] Oct-05-1999 10:32 GMT Symbols: US;AXP US;AMTD US;EGRP US;SCH US;MER US;WB US;FTU US;C US;MWD Source [B] BridgeNews Global Markets Categories: I/BAN I/BNK I/FIS I/INF I/INL I/INP I/SCR R/NME R/US I/NET B/BRK CAP/STOCKS CAP/BANK CAP/INDEX

To: BWAC who wrote (8758)	10/5/1999 10:46:00 PM
From: Spytrdr	Respond to of 13953

"SECOND ATTEMPT AT ONLINE SUCCESS This is the company's second attempt at doing business online. In 1996, American Express launched Financial Direct, a less comprehensive offering of financial planning tools. Lennick said in its first attempt, American Express made the mistake of assuming that the customers who want to do business online were different from those who want financial advice. While the service is still available, the company stopped marketing it several years ago. "Now we, and the entire industry, are learning that the same customer wants to be online, face-to-face or at other times on the phone." Lennick said. "We thought customers would be channel loyal, but we learned they are not."

To: BWAC who wrote (8758)	10/5/1999 10:49:00 PM
From: Spytrdr	Respond to of 13953

"Many people do not want to churn their accounts, and this is not tailored to the day-trading community, which is why we do not allow round-trip trades in the same day," said Adolf. said "ADOLF"...! "ADOLF"... no wonder daytrading is prohibited! ES IST VERBOTEN!!! NICHT!! RAUS!!