Online Brokers - Replace the original industry?
Do you believe that online stock brokers will replace the original industry? That people will start buying their own stocks and we won't need people for that job?
I am sure a don't understand if this is even a legit question but someone was talking about it in economics class today. So I wanted to hear your opinions of why or why not. Thanks.
Depends on the level of wealth and experience. Small investors like to trade on their own, but I bet when they start "trading" and they lose most of their money then retail brokers look a lot better. Online brokers will never replace advisors for people who are wealthier and whose situations are more complex.
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