Gay Fin'l Network Switches from Fleet
Ackermann, Matt, American Banker
The Gay Financial Network's online site has dropped a FleetBoston Financial Corp. subsidiary as its trading services provider and switched to DLJdirect Inc.
Walter B. Schubert, founder and chairman of gfn.com, said Fleet Securities Inc.'s services were too bare-bones, providing only online trade execution to his account holders.
DLJdirect will offer a host of additional services, Mr. Schubert said.
Firstly, the Donaldson, Lufkin & Jenrette unit provides a way for gfn.com members open accounts online with GFN Investments, the site's investment arm, he said. DLJ also provides free access to third-party analysis of customer investment decisions; real-time news; and customized news alerts for portfolio holdings, stock quotes, and information about newly launched initial public offerings, Mr. Schubert said.
Furthermore, DLJ provides access to stock and fund sorting and evaluation tools, investing software, and wireless trading options, he said. And now GFN Investments members can speak with a registered broker by phone to discuss account information or place trades.
DLJdirect is consistently ranked among the best online service providers, Mr. …