Thinking of writing an essay on how brokerages make money since a) it comes up on HN a lot and the easy answer (commissions) is wrong and b) the revenue mix for different brokerages, even among discount brokerages, varies hugely.
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(In related news, people's intuitions about how e.g. retail banks or SMB-focused banks or commercial banks make money are also generally not that great.)
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Does Fidelity release those numbers or is it only required for public companies?
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