Business Services Industry
Morgan Stanley Dean Witter Expected to Unveil Discounted Online Trading.
Knight Ridder/Tribune Business News, October, 1999 by Monique El-Faizy
Knight Ridder/Tribune Business News
Oct. 19 -- In the latest effort among Wall Street's blue bloods to appeal to Main Street's masses, Morgan Stanley Dean Witter is expected this week to announce that it will revamp its brokerage services and offer discounted computer trading.
A source close to the company said it would merge its online, low-cost Discover Brokerage Direct with its traditional brokerage and rename the Web division Morgan Stanley Dean Witter Online.
A do-it-yourself trade will cost $29.95, but customers also will have access to all the company's research and full-priced brokers if they pay asset-based fees -- a percentage of the money the company manages for them.
The firm also will convert its branch offices into...
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