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PaineWebber's Marron On Today's Brokerage.
Byline: Gerry Achstatter, Investor's Daily
The brokerage industry is feasting on a growth in U.S. household assets that should continue uninterrupted for years. At the same time, the Financial Modernization Act of 1999 has made it possible for banks and insurance companies to enter brokers' markets. Brokerages can return the favor, however, by going after consumers' banking and insurance needs. Online trading is a comparatively recent development, and the full impact on brokerages has yet to be determined. Donald Marron, chairman and chief executive at New York-based PaineWebber Group Inc., discussed the state of the brokerage industry with IBD.IBD: How is the brokerage industry - and PaineWebber - doing? Marron: The industry is doing …
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