NEW YORK--(BUSINESS WIRE)--Morgan Stanley at Work and Carver Edison, a financial technology company, announced today that Shareworks has joined Equity Edge Online® in offering Cashless Participation® to U.S.-based corporate clients. Since the initial launch of Cashless Participation® on Equity Edge Online®, stock plan participants have purchased more than one million shares1 with Cashless Participation®. Now that Shareworks has also launched the tool, a wider cohort of Morgan Stanley at Work corporate clients will have access.
By eliminating the need for payroll deductions, Cashless Participation® helps to make stock plans more accessible to employees of public companies, also allowing employers to extend equity ownership opportunities to a wider base of their workforce. The launch of Cashless Participation® on Shareworks means that Morgan Stanley at Work stock plan participants can now participate in this offering regardless of which platform serves them. Corporate clients adding Cashless Participation® to their stock plans have already seen an average 52% increase in plan participation rates.1
“Equity compensation is one of the most meaningful ways companies can motivate their employees and give them a sense of ownership—both at work and in their personal financial lives—but extending these benefits to employees across income levels is an ongoing challenge,” said Scott Whatley, Managing Director and Global Head of Equity Solutions of Morgan Stanley at Work. “By bringing Cashless Participation® to the top two stock plan platforms in the industry, we’re forging a path for more employers to empower more stock plan participants to unlock the power of equity ownership.”
“We understand that companies want to provide meaningful and inclusive financial benefits that help employees build wealth across market cycles,” said Aaron Shapiro, Founder and CEO of Carver Edison. “Cashless Participation® helps companies achieve this goal by making it easier than ever for employees to participate in company stock plans without having to worry about payroll deductions. We are excited to continue to grow our relationship with Morgan Stanley at Work.”
Carver Edison’s Cashless Participation® is now available for corporate clients of Morgan Stanley at Work via Shareworks and Equity Edge Online®. With its simple setup process and seamless integrations, Carver Edison’s Cashless Participation® is quickly becoming the go-to solution for many Morgan Stanley at Work clients looking for an efficient way to provide their employees with more accessible financial benefits.
- Carver Edison client data as of April 2023
About Carver Edison
Carver Edison helps publicly traded companies make equity ownership accessible for their entire workforce. Carver Edison’s patented technology, Cashless Participation®, empowers employees in over 20 countries to participate in their Company’s Employee Stock Purchase Plan (ESPP) without shrinking their paychecks. Learn more at carveredison.com
About Morgan Stanley at Work
Morgan Stanley at Work offers a suite of financial solutions, which spans Equity Compensation through Shareworks and E*TRADE Equity Edge Online, Retirement and Financial Wellness Solutions. Morgan Stanley at Work combines cutting-edge planning and Morgan Stanley intellectual capital and financial education delivered through multiple channels to enable employees to build a holistic plan to achieve their financial goals. Shareworks services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, and Equity Edge Online® employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc., both are parts of Morgan Stanley at Work and all wholly owned subsidiaries of Morgan Stanley.
About Morgan Stanley Wealth Management
Morgan Stanley Wealth Management is a leading financial services firm that provides access to a wide range of products and services to individuals, businesses, and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement, and trust services.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit morganstanley.com.
