ETrade’s custodial unit adds new investment choices

In one of its first moves under new ownership, custodian TCA by ETrade — the rebranded Trust Company of America, which was purchased by the discount broker last month — has beefed up the offerings of its

Money Manager X-Change platform.Morningstar Investment Management, ClearBridge Investments, Manning & Napier, and Earth Equity Advisors have joined the program, offering registered investment advisers access to additional portfolios and investment strategies, the firm said in a release.

MMX permits advisers to mix and match third-party money managers and strategies through a single account at the custodian.

TCA by ETrade, which custodies about $18 billion, was acquired for $275 million by the discount brokerage firm in a deal announced last October.​

At the time the deal was completed, ETrade said: “TCA makes our investing advice continuum more complete, enabling us to serve a broader base of clients, from self-directed investors seeking best-in-class digital platforms and guidance, to investors who seek higher-touch relationships and advice.”

(More: ETrade puts its stamp on the RIA custodian space)

Related Topics: E*Trade Financial Corp.