The lagging market for all of 2000 put a well-timed damper on frantic online trading, Schuster said. The downturn stung amateurs and professionals alike, bringing common sense back to investing, he said. People had a taste of making money, and I think they're going to be choosier about investing. They'll look at companies closely instead of jumping in. Though they stand to lose commissions to online investing, local brokers said they welcome the competition.
Some people do have the savvy to do pretty good.
A lot of people want a broker they can trust that will give them a peace of mind. Ferral said most area residents saving for retirement recognize the value of a brokerage house that offers professional advice, market analysis and a proven track record. He believes online trading is getting more action outside of the Midwest. Andrew Farah of Raymond James Financial Services, Green Bay, allows full-service clients to trade online through the company at reduced rates. Farah said online trading has created more choices for investors, which is a good thing.