More likely this is due to synergies Morgan Stanley expect, such as being able to cross-sell their other products to Etrade customers, and being able to convert their current customers to Etrade.
Even if Etrade is way behind the current generation of fintechs, it's way beyond what the big banks are capable of building inhouse.
Even if Etrade is way behind the current generation of fintechs, it's way beyond what the big banks are capable of building inhouse.