American Express Financial Advisors of Minneapolis, Minn., has announced it will start an online brokerage service called American Express Brokerage sometime this fall. The service will sell more than 2,000 mutual funds from 260 fund families.
American Express announced late last month that it would be selling all of the 2,000 funds available through the supermarket of Charles Schwab & Company of San Francisco.
For account balances of $100,000 or more, all purchases and sales of equities through the new online brokerage service will be free, the company said. The service will also include comprehensive financial planning aids and access to American Express financial advisors.