“In addition, this continues the decade-long transition of our Firm to a more balance sheet light business mix, emphasizing more durable sources of revenue.”
Interesting article about how Morgan Stanley might be buying Etrade. Probably not going to be great news for the customer int eh long run, looks like there's going to less number of brokers and the ones there are will be powerful. But these things tend to move in cycles.
Read the full story here...
https://www.cnbc.com/2020/02/20/morgan-stanley-reportedly-to-buy-e-trade-for-13-billion.html