Displaying 36 results
Morgan Stanley’s wealth unit caught in AML crossfire
The SEC and other federal regulators are reportedly probing the banking giant over its anti-money-laundering and client vetting practices.
Finra bars former ETrade employee
The former rep refused to cooperate with an investigation alleging that he transferred funds from a client account without authorization
Morgan Stanley sells student loan benefits provider to Vestwell
Gradifi, which sold to ETrade in 2019 for $30 million, will expand Vestwell beyond retirement savings.
Morgan Stanley reports $78M in severance to axed wealth management employees
It's not clear what type of employees were laid off, but one industry executive says big firms are rethinking the hiring of administrative assistants.
Morgan Stanley brings robo-adviser under the ETrade brand name
Morgan Stanley will stop making the robo, Access Investing, available to new clients in December.
Morgan Stanley counting fresh assets in the trillions
After its spate of acquisitions, Morgan Stanley now has relationships with 16.5 million clients, Andy Saperstein, its head of wealth management, points out.
Best-performing robo-advisers of 2021
The latest edition of the Robo Report by Backend Benchmarking tracks 58 accounts at 35 different providers and includes both qualitative factors, such as financial planning features, as well as the performance metrics.
Morgan Stanley sees ‘freakish’ asset growth in 2021, Gorman says
Last year was an unusually productive one for Morgan Stanley and its close to 16,000 financial advisers, who brought in record net new assets for the year.
Morgan Stanley’s broad new pipeline for clients
Recent acquisitions have created a "funnel" for new clients, said Jonathan Pruzan, the firm's chief operating officer. The company now has more than 14 million net relationships.
Morgan Stanley brings in ETrade executives
The investment bank is putting the finishing touches onto its $13 billion purchase of ETrade Financial, and has benefitted from ETrade’s direct, online access to a younger group of clients.
Mercer Advisors dumps ETrade custody for Raymond James
An aggregator with close to 50 deals since 2016, Mercer already had custody agreements with Schwab, TD Ameritrade, National Advisors Trust and Fidelity.
Morgan Stanley sells ETrade’s custody business in $55 million deal
CEO James Gorman never could muster much enthusiasm for ETrade Advisor Services, which would have been a direct competitor to the bank's 16,000 financial advisers.
Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. 'My target is $10 trillion of money under management,' said CEO James Gorman. 'I've told the team internally, they hate that.'
Morgan Stanley deal beefs up workplace offering
Privately held companies using law firm Wilson Sonsini's capitalization software will migrate to Morgan Stanley's Shareworks.
GameStop lawsuits allege ‘conspiracy’ bigger than Robinhood
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
Brokerage platforms falter during GameStop surge
The brokers with outages or problems include the most prominent names in the discount and online brokerage industry, including Fidelity, the Charles Schwab Corp., TD Ameritrade, ETrade Financial Corp. and Robinhood.
Market surge exposes cracks in online trading platforms
Brokerages like Schwab, ETrade, TD Ameritrade, Robinhood and Fidelity were hit with technical difficulties as trading spiked amid news of a COVID-19 vaccine
Schwab acquisition of TD to close Oct. 6
The Fed also signed off on Morgan Stanley's purchase of ETrade, which is expected to close Friday
Market outlook for next year looks better than Q4, advisers say
Adjusting to the pandemic, RIAs surveyed by TD Ameritrade say they're communicating with clients more than ever
ETrade’s ‘better mousetrap’ is its stock plan business, analyst says
Morgan Stanley's acquisition of the business will improve its transfer of stock plan clients to its wealth management platform
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