Dain Rauscher brokers will have personal Web pages in January, reps learned at the firm's Association of Women Brokers conference in Minneapolis in October. In development right now, each rep's page will include certain basics as well as some custom information.
Attendees also got an update on the progress of Dain Rauscher Connect, the firm's online access service. About 10,000 clients have signed up for the free service since its debut in June, according to Marcia Hansen, manager of policy and administration for Dain's retail group. The goal is to have about 100,000 clients online by the end of next year, she said. Eventually, clients will access account information through their broker's Web page.
Dain Rauscher will also be offering online trading via a fee account, said Chris Crosby, vice president and director of Internet. The firm is still working on all the pieces of the project and has no time frame for a rollout, Crosby later confirmed to RR.
John Appel, vice chairman and CFO, reminded the audience that industry changes previously perceived as detrimental, such as deregulation and discounters, in fact brought industry growth. He predicted that online firms and their advertising efforts would do the same.
Dain itself debuted its first television commercials in late September. The 30-second spots are running in the firm's main markets of Minneapolis, Dallas, Denver and Seattle. The ads have the tagline, "What you need to know," which highlights common mistakes and misperceptions held by investors.--Janis Samaripa