E-Trade Financial Corp. agreed to sell all of its RAA Wealth Management LLC assets to PHH Investments Ltd. The company expects proceeds of about $80 million, including the sale of RAA and other transactions under contract.
The New York electronic brokerage firm expects the deal to close within the next 90 days.
E-Trade said it's progressing in its turnaround plan to improve capital and liquidity by selling assets and streamlining corporate functions, among other actions.
E-Trade shares closed Friday at $5.17, up 35 cents, or 7.3%.
