* The Annual Advisory Fee is 0.30%, or as low as $1.50 for $500 in assets, and is the direct fee charged to any client in the advisory program. The advisory fee does not cover underlying management fees and expenses of any mutual fund or ETF investment held in the portfolio.
The advisory fee waiver does not apply to any other fees and expenses which you may incur in connection with a Core Portfolios account, including, but not limited to, the underlying fees and expenses of any exchanged traded fund or money market fund held in the account. The advisory fee waiver doesnot apply to ETCM's Blend Portfolios, Dedicated Portfolios, and Fixed Income Portfolios advisory programs.
Excludes non-US residents and any jurisdiction where this offer is not valid.
Core Portfolios utilizes a semiannual rebalancing methodology. Also, portfolios will be rebalanced when material deposits or withdrawals are made. Are balancing strategy seeks to minimize relative risk by aligning the portfolio to a target asset allocation as the portfolio’s asset allocation changes. Rebalancing a portfolio may limit the upside growth potential of the portfolio and these types of strategies might rebalance the client accounts without regard to market conditions. Furthermore, rebalancing strategies may not address prolonged changes in market conditions. Out of tolerance parameters and/or rebalancing methodologies are subject to change.
1For Core Portfolios clients, interaction with E*TRADE Capital Management will generally be limited to the web-based interface. A Core Portfolios client does not have an individual Financial Consultant or portfolio manager assigned to the account. E*TRADE Capital Management, through its Investment Policy Committee and with support of Investment Strategists, selects, removes, and adds portfolio holdings and determines the program’s rebalancing methodology. Clients will be able to consult with a team of specialists by calling 866-484-3658.
2This strategy includes ETFs that focus on companies known for incorporating socially responsible investing criteria, sometimes referred to as "environmental, social, and governance ("ESG" investing; screening for companies that adhere to ESG standards; or fixed income ETFs focused on community impact securities. This strategy may limit or eliminate exposure to investments in certain industries or companies that do not meet specific ESG criteria. AS a result, the ETF may underperform or outperform other funds or an appropriate benchmark that does not have an SRI or ESG focus and may forgo certain market opportunities available to strategies that do not use these criteria.
Smart beta strategies seek to outperform a benchmark index and typically aim to enhance returns or minimize risk relative to a traditional marketcapitalization-weighted benchmark. An ETF employing a smart beta strategy may have higher portfolio turnover which may indicate higher transactions costs relative to its benchmark. Utilizing smart beta strategies does not guarantee against underperformance relative to a more traditional market-capitalization-weighted benchmark.
3Core Portfolios utilizes a semiannual rebalancing methodology. Also, portfolios will be rebalanced when material deposits or withdrawals are made. A rebalancing strategy seeks to minimize relative risk by aligning the portfolio to a target asset allocation as the portfolio’s asset allocation changes. Rebalancing a portfolio may limit the upside growth potential of the portfolio and these types of strategies might rebalance the client accounts without regard to market conditions. Furthermore, rebalancing strategies may not address prolonged changes in market conditions. Out of tolerance parameters and/or rebalancing methodologies are subject to change.
4 Certain accounts may have other minimum asset levels and other eligibility requirements. E*TRADE charges $0 commission for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and E*TRADE reserves the right to charge variable commission rates. Underlying mutual fund fees and expenses apply as described in each fund prospectus. E*TRADE receives shareholder servicing (12b-1) fees from many available mutual funds as well as revenue sharing and administrative service fees from most funds and/or their affiliates. For more information, please review our Relationship Summary, which is available on our website. The standard options contract fee is $0.65 per contract (or $0.50 per contract for customers who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC), foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. Additional regulatory and exchange fees may apply. For more information about pricing, visit etrade.com/pricing.
Core Portfolios are offered by E*TRADE Capital Management, LLC ("ETCM"), a Registered Investment Adviser and affiliate of Morgan Stanley. ETCM and its affiliates are not responsible for any commissions or other transaction charges for trades executed at other firms. Liquidating securities in conjunction with opening a Core Portfolios account may cause adverse tax consequences and clients should consult with a qualified tax professional for specific tax advice. Please read the E*TRADE Wrap Fee Programs Brochure for more information on the advisory fee, rebalancing methodologies, portfolio management, affiliations, and services offered. Diversification and asset allocation strategies do not ensure profit or protect against loss. Investments in securities and other instruments involve risk and will not always be profitable.
Opening an account with a Morgan Stanley Virtual Advisor or Financial Advisor may require minimum asset levels. Other eligibility requirements may apply and certain products and services are not available to or appropriate for all clients. Certain fees, including account fees, may apply should you choose to open an account with Morgan Stanley. Account fees and other important information can be found at www.morganstanley.com/iai.
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AR: 5815050.2; CRC: 5873425 (08/2023); CRC# 5873346 (08/2023)
CRC #4963931 (10/2022)