E*TRADE Group of Menlo Park, Calif. last week announced the opening of its first offline E*TRADE Center, on Madison Avenue in New York. The 30,000 square foot center is the first of 20 planned nationwide and expected to open this year. The firm said it wants to develop a physical presence to complement its online discount brokerage, online bank and wealth management capabilities.
The four-level E*TRADE Center allows investors to execute transactions in their E*TRADE bank and E*TRADE brokerage accounts. They will be able to trade any of E*TRADE's 10 proprietary index funds or funds from hundreds of other fund groups.
The New York center also has a professional trading services area for E*TRADE's active investors, an area dedicated to counseling and servicing high-net-worth customers, an E*TRADE bookstore and an E*TRADE gift shop. The center also has a full-service production studio from which E*TRADE plans to broadcast E*TRADE On Air, a daily live audio and video financial news broadcast aimed at keeping visitors apprised of market events.