Loyal3's backers never tire of citing a Bain & Company survey that purports to find that shareholders make especially loyal customers. But there's a lot more going on here. The existing sales infrastructure makes it hard for people of limited means to build stock portfolios. Brokerage fees are grossly disproportionate for those buying a few shares at a time. The process can be intimidating for neophytes.
BERK: Holman Jenkins in today's Wall Street Journal picks up on a theme we use at BerkAdvisory - "stock portfolios for everyone." Wall Street makes it hard for people of limited means to build their stock portfolios....with Folio Advisor and ValueAligned Investing we have solved that problem by bypassing Wall Street's sales infrastructure.