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October 4, 2022

Morgan Stanley consolidates robo-advisor platform with E*TRADE

Morgan Stanley Wealth Management is set to consolidate its robo-advisor solution, Access Investing, under the E*TRADE platform to offer improved services to its investor clients.

As part of the move, E*TRADE from Morgan Stanley’s Core Portfolios will operate as the lone robo-advisor.

The Access Investing platform will soft close to new customers in December this year, stated the firm.

Through the consolidation, Morgan Stanley seeks to explore the potential of Core Portfolios, which is currently provided by E*TRADE Capital Management.   

Core Portfolios are developed to cater to the requirements of digitally-focused investors and operates under E*TRADE’s digital brokerage platform.

According to Morgan Stanley, the portfolio can be set up online within a few minutes.

After replying to some queries, investors receive a suggestion for a model portfolio. They can make investment with an initial amount of $500 and at an annual charge of 0.30%.   

In addition, investors can customise their portfolios with Smart Beta and Socially Responsible plans.

The model portfolios use the knowledge and market analysis of Morgan Stanley’s Global Investment Office.

Customers using the portfolio can have discussions with financial professionals on markets and potential impacts to their portfolio.

Core Portfolios plans to add new features from Morgan Stanley Access Investing such as tax-loss harvesting in the upcoming months.

Morgan Stanley Wealth Management head of digital direct channel Chad Turner said: “Throughout the integration we have looked for opportunities to combine Morgan Stanley’s deep wealth management expertise with E*TRADE’s digital prowess.

“Today represents an important step in that effort, wherein we are combining the most sought-out features of both Core Portfolios and Access Investing to offer an exceptional experience for digitally inclined and beginning investors.”

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