Coupling up in February By: Gabriel PotterMBA, AIFA® 2020.02.24

Valentine’s day was just a short while ago and I guess it inspired more than a few significant mergers in the past week or so.  In a major move in individual wealth management, wirehouse broker Morgan Stanley announced a deal to buy online broker E-Trade for $13 billion.  Clearly, Morgan Stanley was feeling left out in the cold and lonely after Charles Schwab pulled a similar move a few months ago, buying TD Ameritrade.

Don’t start throwing confetti just yet.  That’s not the only big news of the week.  Someone still has to manage those assets and a large contender just became even larger.  California based Franklin Templeton investment management just tendered a $4.5 billion purchase for Baltimore based Legg Mason.  Legg Mason manages some of the most lucrative and popular investment management boutiques under its banner, including Western Asset and Clearbridge, thus creating a new firm with $1.5 trillion in assets under management.





Gabriel Potter

Gabriel is a Senior Investment Research Associate at Westminster Consulting, where he is responsible for designing strategic asset allocations and conducts proprietary market research.

An avid writer, Gabriel manages the firm’s blog and has been published in the Journal of Compensation and Benefits,...

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