Morgan Stanley is paying $13B for E-Trade, or $2,500 per customer. You can earn a $3,500 sign-up bonus for signing with a new broker — with one major catch

If the latest Wall Street mega-deal doesn’t make you want to switch online brokerage accounts for a lucrative sign-up bonus, maybe it should. Wall Street giant Morgan Stanley announced an agreement Thursday to pay $13 billion to acquire the online brokerage E-Trade which has 5.2 million customer accounts. “The combination will significantly increase the scale and breadth of Morgan Stanley’s Wealth Management franchise, and positions Morgan Stanley to be an industry leader in Wealth Management across all channels and wealth segments,” Morgan Stanley said in a statement.

• 
  Here’s Why E*Trade (ETFC), Adesto (IOTS) and Brickell Biotech (BBI) Shares Skyrocketed Today

  TipRanks
• 
  Morgan Stanley to buy online brokerage E-Trade for $13bn

  The Guardian

‘Overprotected’ investors could get stung in the next recession, warns top Barclays strategist

You’ve heard of helicopter parents? Welcome to the world of helicopter investing and our call of the day from Barclays Wealth Management’s chief investment officer William Hobbs, who says investors are too angst-ridden lately about one particular monster under the bed.