Firms need to change what they're offering. Schwab is doing an excellent job of this, with the little classes they're running for folks -- this is what a P/E ratio is, this is what a limit order is. |
If the ante is lower, then you're going to play hands you probably would not play. |
Online brokerage has grown by appealing to the smallest, most aggressive, self-directed segments. There just aren't any of these people left. |
The holy grail of online [brokerage] advertising is to get normal people to do this. |
This is not a battle worth fighting. |