Topics: Stock broker, Investment, Broker Pages: 3 (1056 words) Published: February 25, 2013
The Etrade business competes in the financial services corporation as a holding company. The company provides services for self directed investors to partake in the online discounted stock brokerage service. The Etrade business is based in New York at the Time Life Building and has approximately 3,100 employees as of the year 2012. The Etrade Company was founded in 1992 by William Porter, with startup capital from a business Portor previously founded, Trade Plus. Etrade Securities was the original founded name of the company before changing to the Etrade Group in 1994, and lastly changing to the now well known Etrade Financial Corporation in 1996 when the company went public. To date it is estimated that there are approximately 2.5 million retail account holders with Etrade, along with Etrade’s 30 financial centers throughout the country it is secure to say that Etrade is growing. The growth of the Etrade company is due in part to the purchase of other brokerage services. Etrade purchased the online brokerage firm Web Street Securities in 2001 for 50 million in stock and cash. A few years later in 2005 Etrade purchased the discount brokerage services Harrisdirect and Brown& Company for an estimated 1.6 billon. The Etrade Company is now made up of the ETrade Bank, Etrade Securities, E trade Clearing and the Etrade Capital Markets. With the growing of the Etrade Financial Corporation Company Etrade was wise to realize that diversification to meet the needs of customers was key in success. Etrade was originally focused on the trading and investing, including retail brokerage products and services, investor focused banking products, corporate services and market making. However, they have now added the balance sheet management field including the management of assets and credit, interest rate risk, loans previously purchased from a third party and customer cash and deposits. With such a broad range of services offered, Etrade was able to attract a...
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