Financial Services Industry
Industry: Email Alert RSS FeedIntuit starts trading stocks. (Another Dot-Broker).(Intuit to enter online brokerage industry)(Brief Article)
Research, November, 2002 by Martin, Robert Scott
FEW WOULD DARE enter the crowded (and battered) online brokerage arena this late in the game, but Intuit is taking the gamble.
The company, best known for its bookkeeping and tax software, recently began offering basic brokerage services on its flagship website, Quicken.com. However, unlike previous ventures into the dot-brokerage space, which aimed at building market share, Intuit's goal here is to tighten its grip on existing software customers.
Significantly, the site lets users of new versions of the company's Quicken software trade directly from the Quicken platform, automatically updating personal portfolios and tax liability statements. The system also reviews the tax ramifications of every trade before executing, shielding self-directed...
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