Page 2 - Etrade Advisor Services News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The big news, announcements and underlying trends emerging in the world of technology solutions for financial advisers during May 2021.

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. April 20, 2021 After failing to muster much enthusiasm for ETrade Financial Corp.’s small but promising RIA custody business, James Gorman, CEO of Morgan Stanley, decided to unload it, agreeing on Tuesday to sell ETrade Advisor Services for $55 million in cash. In 2017, ETrade acquired the RIA custody business through the purchase of Trust Company of America fo...

2020: The year Wall Street lost the wealth management race COVID-19 slowed down but did not halt the flow of advisers fleeing wirehouse firms for the independent channel December 21, 2020 3 MINS 2020 was the year that made clear the independent registered investment advisers, and broker-dealers who also work with RIAs, will eclipse the four remaining Wall Street wirehouses in the wealth management and investment advice race. COVID-19 slowed down but did not halt the flow of advisers fleeing Merrill Lynch, Morgan Stanley, Wells Fargo Advisors and UBS. With many wirehouse...