OneSource turned Schwab into a mutual fund powerhouse. It also inspired a slew of competing services from the likes of E-Trade , TD Waterhouse , and Vanguard , though today OneSource and FundsNetwork , from Fidelity Investments, account for the vast majority of fund assets held in supermarkets.
Investors sure seem to think so.
Meanwhile, assets held in supermarkets have increased eightfold, according to Cerulli Associates. What accounts for this popularity is revolutionary convenience. At the FundsNetwork Web site, for example, is instant access to more than 4,500 funds. Transferring money from one fund family to another is a matter of a few mouse clicks or a single phone call. One monthly statement provides a snapshot of an entire portfolio, including any individual stocks and bonds.