Expect a barrage of advertising from Discover Brokerage Direct, Ameritrade Holding Corp. and DLJ Direct, executives at the online brokerages said during Putnam Lovell deGuardiola & Thornton's e-brokerage conference in San Francisco, reports Investment News. Tom O'Connell, CEO of Discover, said his company is doubling its $50 million ad budget--as well as its staff and real estate--by yearend. J. Joe Rickets, co-CEO of Ameritrade, said his company plans to spend $200 million on brand awareness over the next few years, beginning with a full-blown summer campaign. DLJ, targeting wealthy investors, is beefing up ad spending from $25 million last year to $65 million by yearend.
Copyright June 1999, Crain Communications Inc.