American Express Improves Online Brokerage Service

by Carla Johnson, Investors Offshore.com

11 October 2001

American Express has overhauled its online brokerage service to include new features to provide investors with extra support in the volatile market.

The features include enhanced equity research which now offers quicker access to all research reports, sectors and industries, extensive stock screening capabilities and news alerts.

There is also a Quicken/Money download software option, a FDIC Insured Sweep Option for uninvested cash in brokerage accounts, online applications so that clients will no longer need to mail back a hardcopy of their signatures, and a direct deposit facility allowing clients' paychecks to be directly deposited into their brokerage accounts.

In a statement from Amex, Francois Odouard, vice president of American Express Brokerage, said: 'The enhancements we are making to American Express Brokerage are all designed to make it easier for our customers to integrate brokerage activities into an overall financial planning process.'

But the jewel in the crown of the revamped service is the state-of-the-art Personal Portfolio Assistant (PPA). PPA is an online portfolio analysis tool that helps investors evaluate their holdings against a model portfolio based on their risk tolerance and investment objectives.

'We are particularly excited about the PPA, which we think is a giant leap forward in helping clients make sure their portfolios match their objectives and risk tolerance,' added Odouard.

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