Morgan Stanley recently unveiled its E*Trade branding, changing the logo color to mix the parent company's light blue with its 2020-acquired self-directed channel's purple Morgan Stanley also has integrated the two monikers as "E*TRADE from Morgan Stanley. According to AdvisorHub, the marketing changes align with Morgan Stanley's efforts to tie its core advisor force of 6,000 to the 7.4 million self-directed households.

Robinhood also moved further into the wealth management domain. According to Robinhood's marketing materials, Robinhood released its "First Trade Recommendations" tool, which will allow new customers to receive a personalized recommendation based on their risk profile and investment needs.

The First Trade Recommendations tool will provide the personalized recommendation based on a pool of four ETFs, which already are available on the Robinhood platform. Robinhood officials state it would continue to broaden the product pool over the next six months. Robinhood officials claim to have worked closely with regulators to ensure that the product satisfies the suitability rules of the Financial Industry Regulatory Authority (FINRA) and Regulation Best Interest of the SEC. 

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