Morgan Stanley confirms to acquire ETrade in $13 billion all-stock dea

[status1]

That's the headline I just saw this morning
I suspected someone will buy up Etrade I just did not think of Morgan Stanley
Who is next ?

 

[status1]

I stumbled across this news while looking for something else

https://www.advisorhub.com/morgan-stanley-sells-etrade-ria-custody-unit-for-55-million/

Not sure what that means exactly
Is Etrade advisory services the same as Etrade or just a part of it ?

 

[DaveN]

Just a part, probably a group or back office function that they deemed redundant and without synergies to something JPM already has. Getting $55Mln helps with the costs and probably keeps some employees in a job.

 

[status1]

September 1 is the date for the transfer of Etrade to Morgan Stanley

 

[status1]

One of the first consequences of the transition although a minor one that I am not fond of is that they are making the confirmations separate Previously I could download one file that contains all the trades that were done that day Now they are making a separate file for each leg of the trade so let's say you closed one condor and opened a new one on the same day you have to download 8 separate files for each leg of the trade

 

[status1]

I found a workaround for this problem no thanks to MS
I use the PowerEtrade and on the history tab I can download all my trades for the day in a .csv file so I don't even have to wait for the pdf confirmation