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Forget zero fees and robots: One broker doubles down on humans

It's essentially a bet customers will still pay extra to be hand-held in their trades

Tokyo: A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 11, 2019. Asian stock markets followed Wall Street higher Friday on optimism about U.S.-Chinese talks on ending a tariff war.
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Tokyo: A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 11, 2019. Asian stock markets followed Wall Street higher Friday on optimism about U.S.-Chinese talks on ending a tariff war.

Bloomberg
As the global brokerage industry shifts to zero fees for trading and robots to give advice, one company in Singapore is deciding to buck the trend.

UOB-Kay Hian Holdings  has taken on a large group of securities trading representatives, known as remisiers, from a brokerage arm of the country’s largest bank. It’s essentially a bet customers will still pay extra to be hand-held in their trades.

“There is a lot of digitisation, but the human touch is still very important,” Esmond Choo, senior executive director at UOB-Kay Hian, said in an interview. People will be willing to pay “a few basis points”

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First Published: Oct 30 2019 | 1:11 AM IST

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