E*Trade
Morgan Stanley Melds E*Trade Execs into Broader Wealth Leadership
Former heads of the self-directed business are taking on new roles reporting into Morgan Stanley Co-President Andy Saperstein.
Edward Jones Branch Development Head Tom Curran to Retire–Filing
Curran had a broad role overseeing advisor hiring, training and branch operations for the firm’s roughly 15,300 offices.
Morgan Stanley Sells E*Trade RIA Custody Unit for $55 Million
Axos Financial’s acquisition of E*Trade Advisor Services includes about 200 RIA clients and $23 billion in assets under custody.
Morgan Stanley Q4 Wealth Revenue Up 24%, Profit Down 4%
Morgan Stanley’s October acquisition of E*Trade spurred a big gain in quarterly trading and net interest income, along with soaring integration costs.
Morgan Stanley Limits E*Trade Customer Referrals to Specialized Brokers
Wirehouse restricts prospecting of E*Trade customers to network of around 500 “high-quality” teams that already receive referrals from its workplace plan businesses.
Morgan Stanley Q3 Profit Falls on Higher Comp Expenses, Lower Interest Revenue
Chief Executive James Gorman says brokerage force is growing, along with client assets.
Morgan Stanley Hires Multi-Million UBS Stock Plan Team in Houston
Four UBS brokers managing $1 billion were the stub of a sprawling stock-plan team that had split for Morgan Stanley last year.
Morgan Stanley Wealth Profitability to Plunge But Worst Is Over: CEO
Rock-bottom interest rates mean a loss of hundreds of millions of dollars and wealth profit decline, but Morgan Stanley’s Gorman is upbeat about recovery and expansion of wealth management.
Goldman to Buy Folio Financial, Venture Into RIA Custody
After absorbing the mass affluent United Capital RIA firm in July, Goldman pushes ahead to custody assets of other RIAs through acquisition of tech-savvy Folio.
E*Trade’s RIA Custody Business Faces Uncertain Fate
Morgan Stanley executives appear wary of running an RIA channel that would compete for wealthy clients with its internal advisor force.
Morgan Stanley Pitches E*Trade Deal to Advisors
Promises integration without disruption—no need for SmithBarney-like platform integration—and potential to add E*Trade clients moving up the advice scale.
