Broker puts files online
Montgomery Securities will offer clients access to its research reports online, one of the first brokerage firms to offer such a service on its Web site.
The service allows clients to enter their passwords and then request information based on their specifications. Clients can design their own home pages on the Montgomery site and search for information based on type of research, publication date, sector, analyst, and ticker symbol.
"Our new Web sites make Montgomery's research easily accessible to clients on a real-time and customizable basis," said Thom W. Weisel, chairman and chief executive. "It is only a matter of time before all our clients mandate that research be distributed this way...We are proud to be ahead of the curve and provide this valuable client service."
A Goldman Sachs spokesman said his firm is working on a similar service, which will also include economic forecasts and investment strategies.
David Readerman, a senior analyst at Montgomery, said the company will save $3 million a year in postage alone by placing the research reports online.