Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Amex Plans Online Brokerage Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, October 07, 1999

Amex Plans Online Brokerage

Reported by Jason Shank

American Express has made a formal announcement of the launch of its long-rumored online brokerage, planned for later in the Fall. The services provided, aside from trading, will include online interactive advice as well access to the American Express Financial Advisors (AEFA) network.

The new brokerage will also include traditional telephone trading options, both through an automated voice response system and through representatives.

Related Links
  • American Express
  • American Express Brokerage (temporary banner page)
  • On MFWire.com
  • American Express Teams Up With Schwab
  • Fidelity Links To Amex
  • "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.

    "It is a key part of our Internet strategy and complements a series of recent introductions," he added, "including Membership B@nking -- a direct bank with attractive rates and quality service -- and Blue -- a new card with special features for people interested in shopping online."

    The costs of trading through the brokerage will include: equity trades of $14.95 with an account balance of less than $25,000, equity buys free, but sells of $14.95 with a minimum account balance of $25,000, and for account balances over $100,000, all equity trades are free. All equity trades of over 3,000 shares have an additional charge of three cents per share. Bond and option trading will also be available, but only over the telephone for now.

    Brokerage customers will also have the option of trading shares of more than 2,000 mutual funds from over 260 fund families, a result of Amex's recent alliance with Charles Schwab.

    Amex is focusing the online access to the new brokerage as offering both interactive advice through online financial planning tools and access to the company network over almost 10,000 advisors through AEFA, using an online advisor locator to find an advisor in a customer's area.

    The online planning tool will integrate all aspects of financial planning, according to the company, rather than simply isolate one area such as college planning like many online calculators. 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

    3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2019
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use