Why Australians are abandoning stockbrokers

Private client stockbroking firms are failing to satisfy affluent and wealthy customers as equity market trading volumes languish and top end clients increasingly look to online brokers.

More than 40 per cent of affluent and wealthy individuals prefer to use an online broker, according to a survey by financial services research firm Core-Data. The survey of almost 2000 individuals also found that those using a full-service stockbroker gave the firm only an average score ... READ MORE

Released by the Australian Financial Review - 28 July 2012