Since it first began moving online three years ago, PaineWebber has ensured the expertise of its 8,500 brokers carries over and is interwoven with its online client services. The company primarily serves individual investors and the capital markets. PaineWebber EDGE, the company's client service portal, increased assets by 18 percent in the first quarter.
EDGE gives clients full access to account information.
It enables them to monitor potential investments with portfolio tracking software and to receive stock quotes, market summary data and financial news. Both financial advisers and clients can review multiple account relationships without viewing separate spreadsheets. EDGE also includes a bill payment and electronic funds transfer feature powered by products from software supplier Edify, which lets clients pay bills such as mortgage or credit-card payments online, said Robert Silver, executive vice president and director of operations services and systems at PaineWebber. They want a financial relationship. The online push will result in growth in other areas, such as stock options and bond trading business, Silver predicted.