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Today's Deals: E*Trade Reaching for Deeper Pockets

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 E*TRADE (EGRP) to acquire PrivateAccounts.com

 

   *  Amount:         Undisclosed

 

   *  Terms:            n/a
 

   *  Premium:        n/a

 

   *  Industry:        Financial services

 

   *  Scorecard:      A-

 


    MENLO PARK, Aug. 24--Further advancing its "high touch/high tech" strategy for building customer assets, E*TRADE Group announced that it has signed a letter of intent to acquire privately-held PrivateAccounts.com, a Minneapolis-based developer of online separately managed accounts. Through the acquisition of PrivateAccounts, E*TRADE is expected to have particular appeal to affluent consumers who have a minimum of $100,000 to invest, to independent financial advisors, and to corporate clients who wish to benefit from the experience, expertise and leverage of professional money managers in helping them achieve their financial goals. Financial terms were not disclosed.

     

 

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