ETrade's custodial unit adds new investment choices

Morningstar, ClearBridge, Manning & Napier and Earth Equity join platform
MAY 15, 2018

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)

Latest News

Merrill to pay $39 million in cash sweep settlement
Merrill to pay $39 million in cash sweep settlement

The financial advice industry has been facing inquiries into its cash sweep programs for years now.

SEC accuses fund advisor of defrauding SpaceX, OpenAI investors
SEC accuses fund advisor of defrauding SpaceX, OpenAI investors

Investor money allegedly went to strip clubs, exotic cars, and landscaping

RIA moves: Savant enters Thousand Oaks as Procyon lands in New Jersey
RIA moves: Savant enters Thousand Oaks as Procyon lands in New Jersey

Procyon adds $415 million in assets under management in New Jersey while Savant picks up a $213 million Southern California planning firm

Beyond sell or inherit: A third exit for appreciated property
Beyond sell or inherit: A third exit for appreciated property

With a growing number of real estate-rich Baby Boomers aging into retirement, some advisors may be failing to consider all the options available for those clients' assets.

AI marketing adoption gap costs financial firms revenue
AI marketing adoption gap costs financial firms revenue

Cornerstone Advisors study reveals compliance bottlenecks stall campaigns weeks after customer opportunities close.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains