Pure Online Brokerages Proliferate, Expand Offerings

Pure online brokerages have been very effective at grabbing assets since the market meltdown of 2008, according to Boston-based consultancy Aite Group. As a result, more firms are looking to develop or enhance solutions of their own.

 

In a report, titled “Merrill Edge: Online Broker, or Innovative Business Model for the Mass Affluent,” Aite examines Bank of America Merrill Lynch's online brokerage offering, Merrill Edge, which launched in June, and what effect it has had on the industry. S