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Etrade moving to the dark side as they join MS. Robinhood will be next as they can’t sustain losses forever. $ms https://t.co/GjUs2o2mZO
— Ross Gerber (@GerberKawasaki) February 20, 2020
WOA. Big @WSJ news in financial advisor world this morning - Morgan Stanley Is Buying E*Trade!
— MichaelKitces (@MichaelKitces) February 20, 2020
This has significant implications for the future of RIA custody options... and the prospective #Schwabitrade deal... (1/?) https://t.co/wdGCL4koHx pic.twitter.com/CGZGLmafZP
etrade was really cool in 1999 https://t.co/QnnUv0UJc9
— Shai Goldman (@shaig) February 20, 2020
Fintech 1.0 saw co’s building out better vertical experiences: @Chime in banking, @Wealthfront in asset mngt, @SoFi in student lending. Fintech 2.0 will be all about horizontal expansion: @RobinhoodApp doing banking, and banks like MS becoming brokerages. https://t.co/MH46L2eLrN
— Jayni Shah (@shahjayni) February 20, 2020
Morgan Stanley is buying E*Trade Financial in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people.#finserv #wealthmanagement
— Theo - 劉䂀曼 (@psb_dc) February 20, 2020
cc @UrsBolt @TheRudinGroup https://t.co/etq2EntSih via @WSJ @lizrhoffman
Morgan Stanley acquiring etrade for $13 billion.
— Downtown Josh Brown (@ReformedBroker) February 20, 2020
They’ll be writing a big chunk of this down in the coming years. There’s nothing here. Imagine acquiring customers who don’t plan to pay you for anything? https://t.co/uncHACBcXi
The deal would give Morgan Stanley — long known as one of Wall Street’s most blue-chip names, whose asset management business already caters to the wealthy — a big share of the market for online trading https://t.co/fq7Nj0Xjll
— NYT Business (@nytimesbusiness) February 20, 2020
“We’ll take on Schwab. We’ll take on Fidelity.”
— Nate Geraci (@NateGeraci) February 20, 2020
Future of asset mngmt biz is a barbell, w/ fully vertically integrated, massive scale players on one end and boutique, high touch/value players on the other.
Middle will continue being squeezed... @WSJ https://t.co/0BC6fE34F3
Nothing to see here, just a Wall Street bank trying to increase its size, operational complexity, and interconnectedness...while regulators roll back post-crisis rules...while risks are building in the financial system.
— Gregg Gelzinis (@FinGregg) February 20, 2020
All good! https://t.co/c7Phyvf1JM
morgan stanley said.... m&a is DEAD https://t.co/V4RPf3ZW2o
— katie 邱丽 (@katiewav) February 20, 2020
"We're not messing around," Morgan Stanley CEO says. https://t.co/vL8zWSuhlS
— Liz Hoffman (@lizrhoffman) February 20, 2020
A successful, disruptive startup is one that is...acquired by an incumbent.https://t.co/ZZ0y6cUdJy
— Subrahmanyam KVJ (@SuB8u) February 20, 2020
Not gonna age well. Paying $3.1B premium at $13B for what value of synergies?$MS paying 3.9x Tangible Book Value for a biz that’s reliant on a stock market that trades at 11x TBV.
— PlungeProtectionTeam (@gamesblazer06) February 20, 2020
“Morgan Stanley Is Buying E*Trade, Betting on Smaller Customers - WSJ” https://t.co/dFuHzQmFGd
Morgan Stanley is buying online brokerage E*Trade for about $13 billion. https://t.co/vhTTkRWaRR
— USA TODAY (@USATODAY) February 20, 2020
JUST IN: Morgan Stanley is acquiring discount broker E*Trade for $13 billion https://t.co/RwjJjlspBl
— The Block (@TheBlock__) February 20, 2020
I’ve been an @etrade customer my entire adult life (since 1999 when it was setting out to disrupt Big Banks) https://t.co/orgh9an5Fi
— Mike Dudas (@mdudas) February 20, 2020
Morgan Stanley to buy E*Trade Financial in $13 billion deal https://t.co/hPeGtlEN7Q
— Anna Irrera (@annairrera) February 20, 2020
Morgan Stanley to buy E*Trade Financial in $13 billion deal https://t.co/Xd24c9Zn0t
— Reuters Business (@ReutersBiz) February 20, 2020
MORE: The E*Trade deal will help Morgan Stanley boost its wealth management unit, a business it has been trying grow to help it ride out weak periods for trading and investment banking https://t.co/fBFIQpQuGy
— Reuters Business (@ReutersBiz) February 20, 2020
Morgan Stanley to buy E*Trade Financial in $13 billion deal $MS $ETFC https://t.co/muG0zVOkOm
— Saqib (@SaqibReports) February 20, 2020
And here we go....Morgan Stanley to buy E*Trade Financial in $13 billion deal https://t.co/7A0VO9F7qJ
— Abby salameh (@AbbySalameh) February 20, 2020
Funds and advisors consolidation continue ...
— Mo Hossain (@MoHossain) February 20, 2020
•Morgan Stanley Is Buying E*Trade, Betting on Smaller Customershttps://t.co/iPy2WvOgxr @WSJ
• Where the fund manager consolidation narrative goes wronghttps://t.co/tDFGzIlSrY @FT #arbitrage #investor #trade @ennovance @ilpaorg https://t.co/TeiNoYf7RQ
Morgan Stanley acquiring etrade for $13 billion.
— Downtown Josh Brown (@ReformedBroker) February 20, 2020
They’ll be writing a big chunk of this down in the coming years. There’s nothing here. Imagine acquiring customers who don’t plan to pay you for anything? https://t.co/uncHACBcXi
Big M&A news this morning! @MorganStanley is buying @etrade for $13 billion. https://t.co/EFpEZ78Kyy
— Gabor Gurbacs (@gaborgurbacs) February 20, 2020
Consumer fintech folks experiencing whiplash after the past 48 hours thinking about the relative value of the LendingClub / Radius & MS / eTrade deals. Most will comp to disruptors by focusing on # of eTrade customers, but it's all about the deposits: https://t.co/YGf4F3hWzu
— Charles Birnbaum (@cbirn) February 20, 2020
モルガンスタンレーがEトレードを買う。13ビリオン$。これは戦略的に大きいニュースだな。この会社、昔は、個人で口座開こうとしたら、トレードできる金融資産が2億円は最低ないと鼻も引っ掛けないような会社だった。ずいぶん変わったね。 https://t.co/PvJ0NEqNlq
— TrinityNYC (@TrinityNYC) February 20, 2020
HUGE: Morgan Stanley buying E*Trade. As to why, this quote says it all..?? https://t.co/cyawU2ubBV pic.twitter.com/hfXXfTDEto
— Eric Balchunas (@EricBalchunas) February 20, 2020
Morgan Stanley is buying E*Trade for $13 billion! https://t.co/5Jw90nqCW3
— Charles Forelle (@charlesforelle) February 20, 2020
Scoop hitting @WSJ: Morgan Stanley is buying E*Trade for $13bn https://t.co/cVnCedcvNA
— Liz Hoffman (@lizrhoffman) February 20, 2020
Wow, Morgan Stanley buying E-Trade https://t.co/xUkmiMP9rq
— Joe Weisenthal (@TheStalwart) February 20, 2020
consolidation in the asset management space is inevitable
— Meltem Demirors (@Melt_Dem) February 20, 2020
last fall, @CharlesSchwab acquiring @TDAmeritrade
now @MorganStanley acquiring @etrade
the game is to gather assets under management + customers, just like banks gather / consolidate depositshttps://t.co/ghv2uQrjoE
? $MS < $ETFC $13B to rebundle wealth management & good compliment to Solium
— Lindsay Davis (@lcdavis1225) February 20, 2020
E*Trade’s 5M retail accounts @ $13B ($2.6K per account)
vs. Robinhoods 10M @ $7.6B Val ($760)
vs. Coinbase 20M @ $8B Val ($400)
*$ in & % of actives unknownhttps://t.co/G1q7OmTGsA
WTF are you talking about dawg?
— ShitFund (@ShitFund) February 20, 2020
“We’ll take on Schwab. We’ll take on Fidelity,” Mr. Gorman, now in his 10th year as CEO, said in an interview. “This isn’t about legacy-building; it’s about getting [Morgan Stanley] ready for prime time.”https://t.co/AVNc04F99B
WOA. Big @WSJ news in financial advisor world this morning - Morgan Stanley Is Buying E*Trade!
— MichaelKitces (@MichaelKitces) February 20, 2020
This has significant implications for the future of RIA custody options... and the prospective #Schwabitrade deal... (1/?) https://t.co/wdGCL4koHx pic.twitter.com/CGZGLmafZP
Wow....Morgan Stanley Is Buying E*Trade, Betting on Smaller Customers - https://t.co/nP8zcv1Y6K
— Ryan Smith (@RyanQualtrics) February 20, 2020
E*Trade's crown jewel is a comparatively low-profile business: managing the stock that employees at hundreds of companies receive as part of their pay. As they become available for sale, E*Trade aims to move those employees into brokerage accounts. https://t.co/AjbVqTRqYM
— Lisa Abramowicz (@lisaabramowicz1) February 20, 2020
Morgan Stanley is buying E*Trade Financial in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. https://t.co/7Xg3k2OByr via @WSJ
— Tim Welsh (@NexusStrategy) February 20, 2020
Morgan Stanley is buying E*Trade Financial in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. https://t.co/COhTiTTa3w
— Carleton English (@carletonenglish) February 20, 2020
Morgan Stanley to Buy E-Trade for $13 Billion
— Damien de France ? ?️ (@Damien_CABADI) February 20, 2020
NEW-YORK TIMEShttps://t.co/rHfd8z651L#fintech #banking #finance@jblefevre60 @labordeolivier @andi_staub @Corix_JC @SvetBnov @maxjcm @Fabriziobustama @HaroldSinnott @gerald_bader @Stevewal63 @oluskayacan pic.twitter.com/WIwNZgYnEY
A successful, disruptive startup is one that is...acquired by an incumbent.https://t.co/ZZ0y6cUdJy
— Subrahmanyam KVJ (@SuB8u) February 20, 2020
Blue Chip Morgan Stanley to Buy Discount Broker E-Trade https://t.co/qQysdL49jq
— Ninja Economics (@NinjaEconomics) February 20, 2020
This was just a matter of time. Morgan Stanley to Buy E-Trade for $13 Billion https://t.co/dRZz2bshwT
— Kathleen Pender (@KathPender) February 20, 2020
Morgan Stanley to Buy E-Trade for $13 Billion https://t.co/t4pTkJFVGa
— Bo Snerdley (@BoSnerdley) February 20, 2020
Wonder if it was commission free?
— Nik (@NikMilanovic) February 20, 2020
(sorry)https://t.co/xNNN3caLp9 #fintech
Morgan Stanley just announced that it's acquiring E*Trade Financial Corp in an all-stock deal valued at $13 billion.
— AdvisorsUNITE (@Advisors_UNITE) February 20, 2020
Advisors, what are your thoughts on this? https://t.co/cRkBQDDLcU
When I was at @morganstanley over a decade ago, the trading floor was THE profit center in the bank. New products = high spreads =?.
— Mark Goldberg (@Mark_Goldberg_) February 20, 2020
Now, trading is commoditizing - forcing banks to find new ways to make money. Look at the @etrade news in this light. https://t.co/TiALzEYzsJ
Not terribly surprising given what GS is doing with Marcus and Apple Card. New focus on 1) predictable, reoccurring fees + 2) monetizing a consumer base with lower AUM than their traditional targets https://t.co/TApDIfYIgU
— Mark Fiorentino (@MarkFiorentino) February 20, 2020
Morgan Stanley announces it will acquire ETrade; $ETFC shares soared more than 20% in pre-market trading before being halted for news pending. https://t.co/jMNeeLhmJf
— CNBC Now (@CNBCnow) February 20, 2020
Did ...did they just buy my brokerage? So what are initial thoughts - stay with etrade or start looking for new home? https://t.co/X4VFgN7Xmj
— Adam Singer (@AdamSinger) February 20, 2020
Feels like the fee wars are going to force a lot of panic takeovers in the years ahead in the asset mgmt business
— Ben Carlson (@awealthofcs) February 20, 2020
I can’t wait for someone to massively overpay for Robinhood https://t.co/E14s785Xv5
Morgan Stanley's $13B acquisition of E-Trade is symbolic of a bigger trend.
— Hunter Horsley (@HHorsley) February 20, 2020
Giant financial platforms going vertical across retail trading, institutional trading, brokerage, custody, wealth management, and asset management. Fascinating to watch. https://t.co/48h9p8U9wI pic.twitter.com/1tEcnAb9iu
BREAKING: Morgan Stanley to buy ETrade for $13B in an all-stock deal set to be announced today - Dow Jones https://t.co/jMNeeLhmJf
— CNBC Now (@CNBCnow) February 20, 2020
Morgan Stanley had $91 Billion market value last night...it's spending $13 Billion of its own stock to buy E-Trade. Yet MS shares are only -3% premarket on this news...
— Dominic Chu (@TheDomino) February 20, 2020
Perhaps implies that there is some longer term optimism about deal?https://t.co/JbaXXW3N92@cnbc$MS $ETFC
WHOOOOAAAAAA https://t.co/tbiYKP5Ly9
— Billionaire B (@B_REInvest) February 20, 2020
With this acquisition following on top of the acquisition of Shareworks, @MorganStanley now has a lock on majority employee / stock administration plans for public companies and the resulting annual inflows from employee equity comp plans.https://t.co/Lbibgte8cl
— Adam Nash (@adamnash) February 20, 2020
Morgan Stanley to buy E-Trade for $13 billion
— Madhav Chanchani (@madhavchanchani) February 20, 2020
Scale ?
E-trade, with 5.2 million client accounts and over $360 billion of retail client assets, will be adding to Morgan Stanley's 3 million client accounts and $2.7 trillion of client assets
https://t.co/9xfPU6iHJa
$ETFC Morgan Stanley reportedly to buy E-Trade for $13 billion https://t.co/S7ju2PtqXQ
— BMoe (@BMoeKnows) February 20, 2020
.@NickOfNewYork you think this makes the cut for tomorrow's @RobinhoodSnacks podcast?https://t.co/O2EdZiO0Zy
— Jack Kramer (@TBOYjack) February 20, 2020
え⁉️
— レオン@20代投資エンジニア (@theminimaleon) February 20, 2020
モルガン・スタンレーがイートレード買収⁉️
だからプレマーケットのイートレード株価20％も高騰してるのか?https://t.co/8bhSBfLipp
This is *very* positive news for @tzeroblockchain.
— trees and quiet (@treesandquiet) February 20, 2020
Financial services companies are becoming acquisitive as the industry changes drastically.$OSTKhttps://t.co/zYVjGK0bS1
Morgan Stanley to buy E-Trade for $13 billion https://t.co/OFezlu9X4m
— Amit Paranjape (@aparanjape) February 20, 2020
Check out. Financial Giant Morgan Stanley Acquires E*Trade in $13B Deal https://t.co/AQp0nZD1Yw via @cointelegraph #tech #digital #data #business
— Kohei Kurihara Blockchain CMO (@kuriharan) February 21, 2020
Financial Giant Morgan Stanley Acquires E*Trade in $13B Deal https://t.co/K0wBNPRm2U via @cointelegraph
— Bitcoin Dood (@BitcoinDood) February 20, 2020
Morgan Stanley is buying E*Trade Financial in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. https://t.co/uA2955rsEd via @WSJ
— Joanne Chiu (@joannechiuhk) February 21, 2020
Nobody has used etrade since...1999 https://t.co/xkAg9xVwud
— Greg Wester (@gwestr) February 21, 2020
Morgan Stanley is buying E*Trade Financial in a $13 billion deal that will reshape the storied investment bank and firmly stake its future on managing money for regular people. Killer scoop from @lizrhoffman https://t.co/3z6LaM6LPo via @WSJ
— Bradley Hope (@bradleyhope) February 20, 2020
Huge wave of investment service consolidation coming. https://t.co/ZDHa86x9vv
— Bill Barhydt (@billbarhydt) February 20, 2020
$MS buying $ETFC is smart for both eTrade $etfc needed a partner after Schwab & TD merged and all the modern fintech taking market share. MS gets scaled consumer asset that is highly strategic on heels of successful Solium acquisition that was also smart. https://t.co/gPrxLsCa3b
— John Elton (@johnelton) February 20, 2020
Morgan Stanley Is Buying E*Trade https://t.co/OvgON3eq32
— Eddy Elfenbein (@EddyElfenbein) February 20, 2020
Morgan Stanley to Buy Discount Broker E-Trade for $13B. https://t.co/pqZIWxqe9U
— Michael Dingle (@dingle) February 20, 2020