Admittedly, some of these firms live and die by the trade. They need transactions to keep the revenue rolling in. But other companies are working to temper down their dependence on commission revenue, instead developing other ways to serve investors. Asset management is where it's at. Fidelity should be in touch with that idea.
Fewer assets means fewer asset management fees.
That may seem obvious, but then so does the absurdity of wireless trading. Todd Lebor owns shares of Charles Schwab and when not working can be found scrounging for change in the Alexandria Town Hall fountain. Todd's other holdings can be found online along with the Fool's complete disclosure policy . The Motley Fool is investors writing for investors . The Motley Fool.