New options to help simplify your financial life

Morgan Stanley Wealth Management

12/02/24

Summary: Suffering from “account sprawl” because you have accounts with many different financial institutions? New options can help.

Bird's eye view of different colored pebbles

Many of us have been here: You try to log in to your bank or retirement account and after multiple attempts, you realize you just don’t know what your username or password are and don’t remember where you put them. Or you realize the account you really wanted to access is at a different financial institution. Or maybe this one: You're thinking about buying a new car but you're not sure how much you have available for a down payment.

Over time you’ve accumulated several accounts and now it’s become difficult to keep track of all your assets.

The problem with “account sprawl”

Many people find that their financial accounts end up spread too thin because they're using one brokerage firm for investments, several others for retirement savings and various banks for day-to-day finances and savings. Having an array of accounts can make it hard to get a clear picture of your actual net worth and hinder your ability to track your cash. So what can you do?

  1. Prune your financial accounts by consolidating providers. This can make it easier to not only meet your long-term investment goals but also meet your everyday cash management needs.
  2. If consolidation is not right for you right now, aggregate your financial accounts from other financial institutions. This can conveniently help you view them in one place for a more complete financial picture.

Consolidating financial accounts under one roof

Consider consolidating your financial assets at the brokerage firm where your investments are held. For example, in addition to brokerage account services, E*TRADE from Morgan Stanley clients can also enjoy:

The benefits of consolidation may also extend to simplifying your taxes and making it easier if you move or when you're traveling.

Enjoy a complete view of your wealth

If you prefer to maintain accounts with different firms, having a comprehensive view of your finances can still help you stay on course toward achieving your financial goals.

Online tools can help. For example, with E*TRADE’s Total Wealth View, you can link your external financial accounts to your E*TRADE account(s) including your:

  • 401(k) and IRA
  • Mortgage
  • House value
  • Brokerage accounts
  • Credit cards
  • Checking account(s)
  • Savings account(s)

The benefits of E*TRADE’s Total Wealth View include:

  • Convenient Access. Available on your desktop, this feature is conveniently integrated into Complete View.
  • More informed planning. You can make more informed financial decisions, track your goals or plan for your future with a more complete financial picture.
  • Information Security. To link with your other financial institutions during the account-linking process, you may be asked to provide certain information about the accounts you wish to enroll, including the financial institution’s name as well as your usernames, passwords and answers to security-authentication questions.

Our highest priority is keeping your information protected.

E*TRADE dedicates significant resources to help protect your assets and personal information. Our fraud-protection and cybersecurity program includes multiple layers of protection supported by security processes that are reviewed regularly. And E*TRADE does not sell your data to other financial institutions.

If consolidating your financial accounts with one provider is not right for you, you can also have a complete view of your finances with E*TRADE’s Total Wealth View. 

Summary

Consolidating your financial accounts may provide you with a clearer view of your financial picture.

  • If you decide to consolidate some or all your assets, we can help you get started.
  • But consolidation is not right for everyone. You can also have a complete view of your finances with E*TRADE’s Total Wealth View.

To learn more about Total Wealth View, take a look at our FAQs or log on and click here to get started.

This article was first published on July 12, 2024 as ‘Help simplify your life through financial consolidation.’

CRC# 4009438 11/2024

How can E*TRADE from Morgan Stanley help?

Total Wealth View

See your complete financial picture in one place.

Just follow three steps to get started.

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Roll over your former employer’s qualified retirement plan.

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Plus ATM and foreign transaction fee refunds worldwide.2,3 $15 monthly account fee waived with $5,000 average monthly balance.4

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