The Internet is good for transactions but it alone is not enough to serve the needs of mutual fund investors, according to a survey by Charles Schwab & Co. of San Francisco.

A survey of 519 Schwab mutual fund customers found that while 93 percent of those questioned preferred to place their mutual fund trades online, 72 percent said they wanted to speak to a branch office or telephone representative when seeking help or advice. The survey was conducted by electronic mail in October. The results were announced last month.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.