Dear Patrons, Times are changing! The traditional way of doing business by old-school stockbrokers has been proven unsuccessful in the last few years as a result of industry consolidation among the top players, rising compliance costs and falling brokerage rates. The rise of online stockbroking (a.k.a discount broking) has disrupted the old-school stockbroking franchise model (sub-broker based expansion model) adopted by traditional brokerages which relied heavily upon physical expansion of branches across geographies to increase their business. They have been shutting shops on a wide scale. To understand the real impact, take a look at the figures below.