American Express to launch Web brokerage with adviser component

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New York--American Express Co. will later this fall launch American Express Brokerage, a Web brokerage that will give its customers access to a financial adviser. American Express Brokerage will be based in Minneapolis. American Express-employed financial advisers will be able to integrate their services with an online brokerage package for high-net-worth retail customers. American Express's move furthers the heat being felt by independent financial adviser firms. The adviser firm field is increasingly being infiltrated by big-name financial services brands, such as Merrill Lynch & Co., New York.
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