2001. Web-based investing will surpass existing private connections in 1998.

2.A middle tier broker will emerge to meet the information and technology needs of do-it-yourself

electronic investors.

3.Discount brokers will successfully evolve into mid-tier brokers while full- service firms will lose share

“Our clients are mainly baby boomers with high incomes. They are the first generation that

believes they should think for themselves. Capturing this market requires understanding their

attitude and providing them with technology.” (Discount broker)

“America is full of do-it-yourselfers. They question the broker. People like taking their destiny

in their own hands and get a thrill from seeing the results of their choices.” (Discount broker)

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