Your Internet Plan

Morrow, Edwin P.
October 2000
Journal of Financial Planning;Oct2000, Vol. 13 Issue 10, p44
Academic Journal
This article assesses the impact of the growth of the Internet on the financial planning industry. Many financial institutions are pouring millions into Web site development, in hopes of attracting consumer dollars without the intermediary agent. The Internet is offering ways to buy it cheaper, faster, better, and anonymously. Several sites offer advice. This is the unique service that financial advisors have long considered their prerogative. This threatens both commissioned and fee-based advisors. The continued disclosure pressure and the media are gradually reducing and leveling commissions. But any commission seems expensive compared with a no-load product. As customers are bombarded by free advice and Internet-based financial and portfolio management, it is likely that the amount of fee percentages also will be reduced.


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