E-Trade just unveiled its plan of attack to nab advisers and investors 'lost in the shuffle' in the Schwab-TD Ameritrade deal — it includes a hiring push and marketing blitz in an industry that's under huge cost pressures
— E-Trade was planning to cut advertising and marketing spend significantly into 2020. But now the firm has changed that tune, and see holding those expenses closer to 2019 levels, a theme the chief executive had hinted at during an industry conference in December. The firm also said it would hire more financial consultants, up from about 410 now to more than 450 by year-end 2020 and more than 500 by 2021.
The broader industry's move to axe online trading commissions comes as incumbent players across financial services have bowed to intense cost pressures. "I think there's a lot more consternation in the market if you will. You can just see it," he said. "If you take a look at any of the RIA publications that are out there, a lot of the smaller and medium-size RIAs are concerned.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The US could still put tariffs on EU carmakers despite new trade talks, Wilbur Ross saysThe United States could still apply tariffs on European carmakers, despite their aim to put together a new trade deal, the U.S. Commerce Secretary told reporters in Davos Thursday.
Read more »
Thinking Outside The Box: Should The Knicks Trade For An Onerous Contract?Not only have the Knicks been unable to convince superstars to sign in New York, but there likely won't be a player worthy of max money in 2020 (assuming Anthony Davis re-signs the monster contract the Lakers will offer him).
Read more »
British taxes are a matter for us, not United States, says UK trade ministerBritain's tax policy is a matter for the British government, not the United...
Read more »
Trump is threatening a damaging new trade war with the United Kingdom after Brexit - Business InsiderDonald Trump is threatening a damaging new trade war with the United States' closest longstanding ally.
Read more »
Mnuchin Signals Post-Brexit Trade Deal In 2020, But Britain’s Tech Tax Could Threaten ChancesTreasury secretary Steven Mnuchin signalled a U.S.-U.K. trade deal could be inked this year, but Britain's plans to hike taxes on U.S. tech giants could threatened the deal.
Read more »