E*TRADE from Morgan Stanley has unveiled a new range of index mutual funds with no management fees. The newly introduced funds are exclusively available for E*TRADE clients who maintain eligible brokerage accounts. These funds are managed by Morgan Stanley Investment Management and consist of five key offerings, including the E*TRADE No Fee Large Cap Index Fund and the E*TRADE No Fee Total Market Index Fund. These financial products allow clients to access major capital markets with zero expense ratios.
Chad Turner, Head of Morgan Stanley Wealth Management Platforms, remarked, “This marks another chapter in E*TRADE’s storied history of bringing innovative products and services to self-directed investors. With the backing from Morgan Stanley and the Investment Management team, we are uniquely positioned to help clients pursue their financial goals. They can put more of their dollars to work with management fees off the table.”
E*TRADE, a notable channel within Morgan Stanley Wealth Management, focuses on serving clients across various segments and life stages. Vince Lumia, Head of Wealth Management Client Segments at Morgan Stanley, stated, “With E*TRADE fully integrated into our comprehensive Wealth Management offering, we are able to not only meet clients wherever they are in their financial journeys but can deliver the innovative investment solutions that clients value and help create and deepen relationships.”
While the No Fee Funds have a set unitary fee of 0.00%, certain exclusions apply. Clients may incur fees from E*TRADE or Morgan Stanley Wealth Management as applicable. The funds are available through self-directed accounts and have no minimum initial investment amount. However, purchases can only be made through E*TRADE and cannot be transferred to other financial institutions.
E*TRADE has received recognition as the best online broker for bond investors in Kiplinger's review. E*TRADE's platform includes comprehensive offerings such as over 5,000 mutual funds, a Fund Screener, and a Bond Resource Center to align investments with clients' financial goals.
Morgan Stanley Wealth Management and its affiliates pride themselves on providing long-term investment performance and diverse financial services. Morgan Stanley operates globally, serving a wide range of clients, including individuals and institutions.
For more details about the new funds, visit etrade.com. Interested parties are encouraged to review the fund's prospectus, which outlines its investment objectives, risks, charges, expenses, and other key information before investing.