Alexander Osipovich
speaker
528 appearances
11 recordings
1 series
first heard Dec 2017
last heard Feb 2025
Alexander Osipovich’s voice in public audio — every appearance, attributed to the second.
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Appearances
They now have around six million users and spawned a whole slew of competitors that are also offering zero commission trades and a few other players like, you know, JP Morgan has a zero commission trading platform now, too.
Schwab is a pretty diversified business, and it essentially runs a bank as well as an online brokerage.
And it makes money by, among other things, charging people interest for, collecting interest for the money that it holds for its clients.
It has less of a reliance on trading commissions than some of its peers, such as E-Trade and Ameritrade.
Yes.
And a lot of it is actually about reaching out to new, younger, and first-time investors.
I think that's one of the lessons of Robinhood, that younger, millennial-type investors really like a simple fee structure that they can understand without feeling like they're getting screwed in the fine print.
And so they flock to Robinhood, and that's unleashed a lot of these competitors.
Even Bank of America on its Merrill Edge product offers some zero-commission trades.
Yeah, there's been a few factors, none of which have been good for the e-brokers.
Volumes are down.
If you compare to Q4 of last year, stock trading volumes have fallen off a fair amount.
Also, the Fed cutting interest rates in recent months has been pretty bad for the e-brokers because
They make money from money that you leave on their accounts.
They collect the interest rates and they sweep it and that's a big profit center for them.
So this whole period of rock bottom interest rates over the past decade or so has been pretty bad for them.
They got very excited when Powell started to raise rates and now that the opposite is happening, they're suffering.
Yes.
This whole trend towards zero, or at least towards very cheap fees, has been underway in a few areas.
In asset management, you've seen no-fee ETF trades, no-fee index-based mutual fund trades from the likes of Fidelity and Vanguard.
Showing 181–200 of 528 · page 10 of 27
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