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« Google May Be Bad for You? | Main | The Last Day of the Third Quarter » September 30, 2005 E*Trade to Buy BrownCoE*Trade Financial said that it’s going to buy BrownCo from J.P. Morgan Chase. This is good news, and I expect to see more mergers in the future. This comes on the heels of E*Trade buying Harrisdirect. Also, Ameritrade is merging with TD Waterhouse. BrownCo is famous for its rock-bottom fees. The company’s average account size is $146,247, compared with $31,663 for E*Trade. I think we’ll see more of the big boys on Wall Street pick up niche brokers. Posted by edelfenbein at September 30, 2005 11:17 AM |
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