SURETRADE was a stockbroker firm with an

electronic trading platform In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products ...

created in 1997. It was headquartered in

Lincoln, Rhode Island Lincoln is a town in Providence County, Rhode Island, United States. The population was 22,529 at the 2020 census. Lincoln is located in northeastern Rhode Island, north of Providence. Lincoln is part of the Providence metropolitan statistical ar ...

. It was acquired by

FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America. Histor ...

's Quick & Reilly in 2001, at which time the firm had over 350,000 customers and nearly $2 billion in assets.

History

The company was founded in 1997 as a division of Quick & Reilly by Donato A. Montanaro. Quick & Reilly was acquired by

FleetBoston FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America. History ...

Financial in 1998. In early 1999, FleetBoston considered an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

for the unit but plans were scrapped in October 1999 after the

dot-com bubble The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Compo ...

started to crash. In an October 1999

Fortune (magazine) ''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The ...

article, Montanaro claimed that Suretrade was rated the #1 broker for aggressive traders and #2 for beginning investors. In 2000, the company launched advertising that promoted market timing. Suretrade was folded into Quick & Reilly in 2001 as investors wanted more advisory services after the crash of the dot-com bubble.

References

{{Bank of America 1997 establishments in Rhode Island 2001 disestablishments in Rhode Island Financial services companies disestablished in 2001 Financial services companies established in 1997 Banks disestablished in 2001 Banks established in 1997 Defunct financial services companies of the United States fr:FleetBoston