As many online brokers are racing to their best year ever, traditional securities houses have seen mediocre earnings reports for the fiscal first half to September.
Hard hit by the deep slide share prices have taken in recent months and the continuing exodus of clients, many traditional stockbrokers failed to break even.
The earnings results show a widening schism between brokerages dependent on face-to-face transactions and online brokers, which seldom have need for such services.
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