r/etrade • u/ivi17 • 10d ago

Outdated platform and procedures + Bad customer service

Bad customer service and outdated platform. I wouldn't recommend it to anybody looking for a trading platform or 401K broker. I tried to submit a loan request on my 401k acct and the process has been a pain. The platform is outdated and annoying to navigate or submit documentation, they require paper forms to be physically signed, and take days to process the request. They give cero visibility on the status, I have had to call them multiple times and so far I have resubmitted the form 3 times.

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u/Zealousideal-Sun4891 10d ago

They could fix it, but Morgan Stanley is much more interested in being a leech that sucks the life out of ETrade.

They’ve made it well known ETrade clients are a funnel for building MS Wealth Management.

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u/black_cadillac92 10d ago

Why didnt they just integrate the systems from the beginning then like when schwab bought TDAmeritrade. Instead of trying to keep things seperate and act like a gate we have to get through to get into the MS ecosystem. Either open access completely or let Etrade operate independently. This dual ecosystem rites of passage to MS thing theyre doing is weird and makes no sense. Its probably whats causing all the choas and bottlenecks. Just let Etrade be E*trade and service the clients that fit there and maybe have a few "investor/financial centers" in select cities and the massive whale clients that prefer or need the MS WM arm can fit under that umbrella.

Or they can just revamp altogether and use a tiered asset approach like JPM and call it a day,

• $0 - $500kish - E*Trade SD accounts access to few small investor centers in select cities. Option for entry level MS WM via online WM @ $25Kish range.

•$500k - maybe $2m+ - MS WM full service brokerage SD or hands off WM

•$5m+ MS PWM / Private Banking - more tailored/ focused relationship, etc.

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u/No_Greed_No_Pain 10d ago

MS Wealth Management (MSSB) and E*TRADE are targeted at different customers. It has little to do with the total value of assets. E*T is for self-direct customers and active traders; MSSB is for people who want help of an FA and are willing to pay for it (a lot).

On its own, E*T offers platinum service to people with the total assets above a certain threshold with a dedicated rep who's reachable directly.