Characteristics of clients of full-service and discount brokerage firms

Two-group discriminant analysis was used to determine what differences, if any, exist between clients of full-service and discount brokerage firms. Results suggest that a number of demographic and attitudinal variables are the key predictors of such differences. In addition, there is evidence lo indicate chat the risky shift phenomenon provides a plausible theoretical explanation for satisfaction ratings. The marketing implications of these findings are discussed.