Wall Street, searching for a fresh burst of growth, is going all-in on Main Street.

The latest effort on this front came this past week when Morgan Stanley unveiled a $13bn all-stock deal to buy E*Trade Financial, signaling that the elite Wall Street bank will compete aggressively for retail banking and brokerage customers. The combined entity will have revenue of $44bn, eight million customer accounts, and $3.1tn of client assets.