Agree in general, and I think they were great M&A opportunities for the big firms. Think of Banking+Lending+Investments as a natural stack over much like Photo+Music+Games+News+CloudStorage are in the FAANG world. They keep the user sticky. Once you've got Photo+Music+Games+News+CloudStorage in the Apple ecosystem, or in the Google Ecosystem, for example, you're way less likely to leave.
Yet in banking, there arent great stacks where you can keep your relationship across the board. For JPMC, an acquisition of a Betterment or WealthFront (or others) would be a drop in the bucket.
Yet in banking, there arent great stacks where you can keep your relationship across the board. For JPMC, an acquisition of a Betterment or WealthFront (or others) would be a drop in the bucket.