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QWhat if my MSAD Account has a $0 account balance?
If you have a Morgan Stanley Access Direct (MSAD) Account with a $0 account balance and do not want to convert your MSAD Account to an E*TRADE Account, contact us before your designated conversion weekend at (866) 227-2737 and request a closure of your MSAD Account. Note: If stock plan shares vest in the future, they will remain in your MSAW account if you do not have a linked brokerage account.
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QHow will my MSAD Account change?
You currently have a MSAW Account that manages your stock plan grants and other types of equity awards, which is linked to your MSAD Account that receives and maintains any cash or available assets (e.g., vested shares) transferred from your MSAW Account, and also provides the ability to trade and invest on your own. These features and functionality of your MSAD Account will now be managed through your new E*TRADE Account.
Here’s what your stock plan experience will look like after the conversion:
- Your MSAW Account will continue to manage your existing and future stock plan grants and other types of equity awards. Note, there will be no change to this account. The account number will remain the same, and you will continue to make plan elections, exercise stock awards, sell stock plan shares, and view and track your awards in this account.
- Any cash and/or shares you hold in your MSAD Account will be transferred to your new E*TRADE Account. You’ll be assigned a new nine-digit account number and can access and transact in the new account at etrade.com and on the E*TRADE mobile app. Going forward, shares that are free from restrictions will be transferred from your MSAW Account to your new E*TRADE Account.
- Through your new E*TRADE Account, you’ll be able to manage stock plan proceeds and vested shares that are free from restrictions, as well as trade and invest with a full range of investment choices.
Please note: Your new E*TRADE Account can be accessed on various places on etrade.com. You will also be able to view your MSAW Account information, such as the number of vested equity awards. You will still be able to access your MSAD Account information and documents via Morgan Stanley Online.
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QIs there anything I need to do for the conversion to take effect?
No. There is nothing you need to do to initiate this change.
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QWhat should I expect during the weekend of my conversion date?
To facilitate the conversion of your account, access to your MSAD Account will be restricted during the weekend of conversion. Because you won’t be able to take action within your account online during this time, we encourage you to take are of any account-related business and banking instructions prior to market close on the Friday prior to conversion weekend.
- Certain information and features will be unavailable during the weekend of the conversion. From Friday, after the close of extended hours trading at approximately 8:00 p.m. ET through the evening of Sunday, access to your account will be restricted on Morgan Stanley Online (MSO), including trading, transfer requests, and certain banking features. However, you’ll still be able to view account information and documents.
- While you will have access to your MSAW Account during this time, it may not reflect current assets and balances for your MSAD Account.
- If you try to log on to MSO during the downtime period, you’ll be notified that certain features of your MSAD Account are currently unavailable.
- If you have an existing E*TRADE brokerage or stock plan account, you will still be able to access that account via etrade.com or the E*TRADE mobile apps or active trading platforms.
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QWill banking and cash management access be impacted during the conversion weekend?
Yes. Due to restricted platform availability during the conversion weekend , access to a variety of banking and cash management features may be affected.
Additionally, access to cash management features will be impacted, and action will be required of you after the conversion. Learn more(opens in a new tab)
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QWill my account number change?
Yes, once the conversion is complete, you’ll have a new nine-digit account number for your new E*TRADE Account, which you’ll be able to view online. You can view this number by logging on to etrade.com(opens in a new tab), locating the account on the Complete View page, and selecting Routing and account number from the Quick links menu.
Important: Because you’re being issued a new account number, any existing checks, debit cards, and automatic payment instructions tied to your MSAD Account will no longer be valid starting the weekend of the conversion. (Existing instructions include direct deposits, recurring cash transfers, mobile wallets, and more).
For additional details, see Access to Banking and Cash Management Features.
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QWill my open orders be impacted when the conversion takes place?
Yes, all open good-to-cancel and open limit orders will be canceled and new orders will be restricted throughout the conversion weekend. Cancelation notifications will be sent. However, any market orders placed on Friday prior to 4:00 p.m. ET, will be processed. If you’d like to reenter any canceled orders, you will need to do so manually after the conversion by logging on to etrade.com and navigating to the Trading page. You’ll be able to reenter canceled orders as early as the Monday morning after the conversion weekend.
Please note: If you have market orders, trades, corporate actions, or account transfers that have not yet settled, shares against those transactions will not be transferred right away and will be held in your current MSAD Account until the transaction is settled. Once the order settles, assets will be moved to your new E*TRADE Account the next available business day. Your total available asset balance may not be accurately reflected on MSO, your MSAW Account, or your new E*TRADE Account until settlement.
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QWhat do I need to know or do before the conversion date?
There are some important things to keep in mind before your conversion takes place, including restricted platform availability on the weekend of your conversion date. Also, while we’ve tried to automate as many changes as possible, you may need to take action related to open orders, banking or cash management transactions, and other issues. Learn More(opens in a new tab)
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QWhat do I need to know or do after the conversion?
After the conversion is complete, please log on to your Morgan Stanley at Work stock plan account and follow the on-screen prompts to set up credentials for your new E*TRADE Account. You will only need to complete this step one time, after which you’ll be able to navigate to your new E*TRADE Account via Single Sign On (SSO) from your Morgan Stanley at Work stock plan account. Please note, however, that all brokerage account transactions and/or activity after the conversion will occur in your new E*TRADE Account.
Once you’ve set up your E*TRADE credentials, you’ll be able to access and transact in your new E*TRADE Account via etrade.com, as well as on the E*TRADE mobile apps and active trading platforms. If you also have an existing E*TRADE brokerage or stock plan account, you will continue to access those accounts as you normally would.
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QCan I use my existing E*TRADE User ID to log in to my new E*TRADE Account?
Existing credentials can be used to log in to your new E*TRADE Account.
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QWill my primary email address be carried over from my MSAD Account to my E*TRADE Account?
If you have a primary email address on your MSAD Account and do not have an existing E*TRADE Account, your primary email address will be carried over to your new E*TRADE Account.
However, if you have an existing E*TRADE Account with a primary email address, this email address will not be overridden by your primary email address on your MSAD Account. Your primary email address on your E*TRADE Account will remain as is and carried over to your new E*TRADE Account.
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QIf I have an existing E*TRADE brokerage account, will I still be able to access this account during the conversion weekend?
Yes. If you have an existing E*TRADE brokerage account, you will still be able to access that account via etrade.com or the E*TRADE mobile apps or active trading platforms.
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QWhere can I find my updated agreements and disclosures?
To view your updated agreements and disclosures, see Important Documents & Agreements(opens in a new tab).
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QWhat if I have additional questions?
If you have questions or need support either before or after the conversion, please don’t hesitate to contact us. You can reach us at the following numbers:
- For assistance with your Morgan Stanley Access Direct brokerage account, MSO, or banking features prior to the conversion: 866-227-2737
- For assistance with your new E*TRADE Account, etrade.com, or banking features after conversion: 800-838-0908
Account number
A new nine-digit account number for your new E*TRADE Account will be assigned. After the conversion, you’ll see your new account number online. You can view this number by logging on to etrade.com, locating the account on the Complete View page, and selecting Routing and account number from the Quick links menu.
Account Profile
Profile information for your MSAD Account (e.g., your demographic data, eDelivery preferences, tax lot selections, W8 or W9 tax certification status, and more) will be transferred to your new E*TRADE Account. Financial Advisor visibility settings will follow your existing preferences. However, if you have an existing E*TRADE brokerage account that has a different preference, your new E*TRADE Account will have the visibility settings you selected on your existing E*TRADE brokerage account. After the weekend of your conversion, View Only Role on MSO will no longer work for your MSAD Account. This feature is not currently available for E*TRADE accounts.
Account Information
Information about your new E*TRADE Account will be displayed on various places at etrade.com(opens in a new tab), including the Complete View and At Work sections. Information about your stock plan awards will continue to be accessible in your MSAW Account, which will be connected via SSO to your new E*TRADE Account for convenient access. To view your available stock plan shares after the conversion, log on to etrade.com(opens in a new tab) and go to At Work > Holdings > Other Stock Plan Shares – from Morgan Stanley Accounts. Any open market purchases you’ve made in your MSAD Account will be shown in your new E*TRADE Account.
Historical Documents & Transaction Information
Historical transactions and documents for your MSAD Account (e.g., tax documents, statements, general correspondence, and so on) will not be moving to your new E*TRADE Account. You can continue to access these documents via MSO.
Watch Lists & Other Website Preferences
Your watch lists and other website preferences will not be automatically carried over to your new E*TRADE Account. You will need to set up new watch lists and preferences(opens in a new tab) at E*TRADE.
Asset Aggregation (Total Wealth View)
The Total Wealth View feature is not available at E*TRADE at this time; however, you will still be able to access this feature on MSO for a period of time.
Selling Fractional Shares
Once the conversion is complete, you’ll be able to liquidate fractional shares in your new E*TRADE Account. This functionality was not available in your MSAD Account.
Available Shares
The cash and shares in your MSAD Account will be displayed on your new E*TRADE Account after the conversion. If you currently have unsettled transactions, shares against those orders will not be transferred right away and will be held in your MSAD Account until the trade settles. Once the trade settles, shares will move to your new E*TRADE Account. Going forward, all available shares resulting from a vesting event (e.g., restricted release or ESPP purchase) will be displayed in your new E*TRADE Account within the At Work section under Other Stock Plan Shares.
Performance Reporting
Performance reporting data for your MSAD Account will not be transferred to your new E*TRADE Account. Performance reporting data will start over with your new E*TRADE Account.
Dividend Reinvestment Program (DRIP)
If you are enrolled in DRIP, your election(s) will be carried over to your new E*TRADE Account. Depending on whether the DRIP shares in your MSAD Account were earned on stock plan shares or other shares, the shares will be displayed in your new E*TRADE Account within either the At Work section under Other Stock Plan Shares , or the Complete View section under Individual Brokerage. Going forward, any DRIP shares swept from your MSAW account(s) or earned on stock plan shares in your new E*TRADE Account, will be displayed within the At Work section.
Blackout Periods
Once the conversion is complete, blackout period restrictions (the inability to sell shares during certain periods as designated by your company) will only apply to holdings under Other Stock Plan Shares – from Morgan Stanley Accounts (not Individual Brokerage). You will receive a restriction notice in your new E*TRADE Account during these periods.
Disclosures
Morgan Stanley Access Direct is a self-directed online brokerage account for U.S. residents where trading and other account activities are undertaken at the client’s sole discretion without access to a Financial Advisor. There are no minimum balance requirements or account maintenance fees associated with the account (other fees may apply), and a client’s interaction with Morgan Stanley will be primarily through electronic communications and online resources. Please consider opening a full-service brokerage account if you would prefer to receive the investment guidance and assistance of a Financial Advisor.
This is not an offer to sell or a solicitation of an offer to buy securities, products or services by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. The products and services described herein are not marketed to residents outside of the United States and may not be available to persons or entities in foreign jurisdictions where prohibited.
Employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc., Solium Capital LLC, Solium Plan Managers LLC and Morgan Stanley Smith Barney LLC (“MSSB”), which is part of Morgan Stanley at Work.
Morgan Stanley at Work services and stock plan accounts are provided by wholly owned subsidiaries of Morgan Stanley.
Morgan Stanley at Work stock plan accounts were previously referred to as Shareworks, Stock Plan Connect or E*TRADE stock plan accounts, as applicable.
In connection with stock plan solutions offered by Morgan Stanley at Work, securities products and services are offered by MSSB, Member SIPC.
E*TRADE from Morgan Stanley is a registered trademark of MSSB.
All entities are separate but affiliated subsidiaries of Morgan Stanley.
Content and services available to non-US participants may be different than those available to US participants.
The laws, regulations, and rulings addressed by the products, services, and publications offered by Morgan Stanley and its affiliates are subject to various interpretations and frequent change. Morgan Stanley and its affiliates do not warrant these products, services, and publications against different interpretations or subsequent changes of laws, regulations, and rulings. Morgan Stanley and its affiliates do not provide legal, accounting, or tax advice. Always consult your own legal, accounting, and tax advisors.
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CRC 3758904 (08/2024)
