Compare and contrast the brokers E*TRADE, Charles Shwab, and Merrill Lynch.
Comparing and contrasting E*TRADE, Charles Swab, and Merrill Lynch shows that E*TRADE, the youngest, was created as an online broker while the others pre-date the digital age and began as bricks-and-mortar companies that expanded into online. E*TRADE's primary target market is retail. Charles Swab's is generally high-net-worth individuals, and Merrill Lynch has a sizable institutional effort. Merrill Lynch is owned by Bank of America, E*TRADE is being acquired by Morgan Stanley and Schwab is independent.
When comparing and contrasting these three brokers, E*TRADE, Charles Swab, and Merrill Lynch, one of the first significant differences we notice is that the youngest firm, E*TRADE, was created as an online broker. By comparison, the other two pre-date the digital age and expanded into online after establishing their market shares and positions in a bricks-and-mortar environment. E*TRADE was established much later than either of the other institutions in 1982 and is headquartered in the heart of the digital start-up birthplace of Silicon Valley in California.
By comparison, Charles Swab was established in 1971 prior to the widespread adoption of personal...
(The entire section contains 305 words.)
check Approved by eNotes Editorial