huntsvilleflatfee: Charles Schwab vs. Flat Fee MLS Pioneers
- 07/06/09 03:42 PM
In 1971 Charles Schwab incorporated First Commander Corporation and in 1972 he bought out his partners and renamed it Charles Schwab and Company. In 1974, Schwab had the good fortune of an SEC pilot program that deregulated some brokerage transactions and in 1975 the SEC mandated negotiated commissions for stock trades. At this point most brokerages raised their fees. Schwab in contrast started what he called a discount brokerage. Schwab’s discount brokerage was really an unbundling of trading and advice much like Flat Fee MLS Listings are an unbundling of marketing and transaction management. This meant that instead of Schwab … (2 comments)
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