ISELIN, N.J. - Datek Online Brokerage Services Corp. is talking with technology companies that could provide electronic tools to help self-directed investors make better choices.
Datek would not provide the advice itself, David D. Whitmore, senior vice president, said in an interview last week. Instead, under the partnerships Datek could provide customers access to asset allocation models and advice about specific securities, he said.
He declined to give names of potential partners, citing confidentiality agreements.
The talks come as other discount brokerages are entering the advisory business. In March, for example, Charles Schwab & Co. began offering investment advice through its branch network and by telephone.