I would like to take a moment to recognize the importance of technology, especially in the financial services industry. It is apparent that online trading sites like TD Ameritrade and Scottrade have become the stock brokers of the 21st century. Individuals are now using the resources of these online sites to make informed financial decisions. The days of going to a broker for financial services seem to be in the past. These websites offer the most current data available, including but not limited to stock prices, option prices, technical charts, bonds and even savings deposits.
It is fair to say that online trading has taken the financial sector by storm, as people now trade stocks with the “do it yourself” mentality. My reason for writing this article is not to disapprove of the stock broker profession, but to contemplate ways stock brokers can use the online arena to their advantage. Why aren’t brokers more involved online? By involvement I mean putting traditional stock broker services on the internet. I believe there would be a market for client/broker webcam chats to advise people on what stock picks to make. Maybe this is a crazy idea, but I would like to see some attempt on behalf of traditional brokers to grow their businesses in the new age of online trading instead of simply fading away.
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