There are rumors that Bank of Montreal may be broken up and sold. It sounds like it may be a consortium of people. You wouldn't be surprised that the Royal Bank bought their banking operation and their brokerage arm might go to a foreign entity. That's the rumor.
Quotes about brokerage (16 Quotes)
We will continue to create new alliances. You will see us more aggressively in the online brokerage and the discount brokerage businesses.
We're looking at a pretty favorable environment for bank stocks, and financials in general, over the next three-to-six months. But what I would say is that there's still a little bit of an overhang in terms of the commercial banking sector, due to credit quality concerns. So that's going to weigh heavily on the banks. But we could see growth in some of the other areas. Brokerage continues to be very strong.
While every other bank on the street was setting record numbers in their investment banking fees, their MA (merger and acquisition) activity and their brokerage activity, these guys were losing money.
The holy grail of online brokerage advertising is to get normal people to do this.
We were surprised at the small number of firms utilizing live chat tools especially given the fact that back in May of 2005, our research showed the average response time to an email inquiry was sixteen hours. Clearly, instant messaging is being widely adopted both by consumers and many businesses yet there is reluctance by online brokerage firms to embrace this popular technology. We recommend that firms provide their clients and prospects with robust live chat tools and technologies in order to increase customer satisfaction and ultimately, gain new clients and revenues.
Still, we may see rebounds in the afternoon on bargain-hunting by long-term buyers in construction, energy, and brokerage stocks that decline significantly.
New services reflect the changing demographics of bank customers and banks' are adopting new strategies for retaining core deposits. The first baby boomers will turn 65 in 2011, and by 2030, one in five Americans is expected to be 65 or older. Add the trend toward increased equity ownership, and it's hardly surprising that more than half of the bankers expect to offer brokerage services (61) and half will offer mutual funds (50) in the next three years.
Until just before Christmas, the big brokerage firms had tried to ignore it, as though it was some annoying insect that would eventually fly away. Now it's gotten their attention. But most of them are very slow to respond, and there isn't much time.
The biggest challenge for many consumers in going to a brokerage firm or opening a money-market account is that these accounts can require a minimum balance of 1,000, 5,000 or even 25,000,
In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
Advertising is a racket, like the movies and the brokerage business. You cannot be honest without admitting that its constructive contribution to humanity is exactly minus zero.
We saw that in the brokerage houses with the consolidation and that's exactly what's happening in the telecommunications sector. And I believe however that there are those companies out there either through perhaps future mergers that will make it and two of them that I like for the long-term is ATT and WorldCom, ... I think somewhere along the line they might be bought out by some major international concern but it think if you have those stocks it was good at these levels probably to begin to average out.
I like Citigroup as a nice core holding. It's a big money-center bank. They do have some exposure, of course, to Salomon Smith Barney in the brokerage industry, ... This stock has pulled back in here, 44.95 a share. I think that it's going to grow those earnings at around 14 percent -- 11 times and 12 times earnings, that's a cheap stock.
Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.
The CIA is made up of boys whose families sent them to Princeton but wouldn't let them into the family brokerage business.