I'm not sure. It has certainly made obtaining information much more accessible. It reinforces my belief in picking a company to invest in because of the added information. I'm a long term investor and after doing my research and homework, feel confident in my picks. It makes me responsible.
Brokers have no responsibility in terms of profit.
They're paid whether the stock rises or declines. I use the internet for information gathering only. After sad investing experiences with 3 major brokerage houses, I have to say that the Net, and On line Brokers, have not only provided profit, but greater control of my financial life as well. The others have said it well. You have to dig for information, set guidelines, and believe in yourself.