And you shouldn't expect to see sweeping changes anytime soon. The SEC's regulations dictate the basic information your broker has to send to you, such as what you bought and how much you paid for it. Its rules don't tell the firms how that information has to be presented or the style or layout that must be used. The disparity in basic formatting is remarkable. But people in the brokerage industry say they are trying.
Many brokerage firms do try consistently to enhance or upgrade their statements.
With the makeover, Schwab added pie charts to illustrate each customer's asset-class breakdown. Industry Says It's Doing Better Margaret Draper, a spokeswoman for the Securities Industry Association, insists that brokerage firms are making their statements more presentable. I think firms are listening to their clients and doing their best to incorporate the information they want. Draper says you should expect to see clearer language on your statements and simple charts for asset-allocation breakdowns and portfolio summaries. Some brokerage clients don't want too much information, so the firms are working to find the right midpoint.