ETrade (NDAQ:ETFC) announced an aggressive campaign today to win back customers as one component of its comprehensive turnaround plan following its dramatic fall. The turnaround plan was reportedly developed in conjunction with a thorough evaluation of ETrade’s core strategy along with an assessment of its organizational structure, operating expense base, and balance sheet. Shareholders are hoping that this plan can help revive the stock that has dropped substantially over the past few months.

The backbone of the turnaround plan is an effort to start attracting customers after the company saw a mass defection following liquidity rumors. The campaign began earlier this month and involves targeted engagement incentives and outreach initiatives to current and prospective customers. But just how effective has this been? Well, the brokerage said on Friday that its retail customer cash and deposit balances were up 14% from the end of October, reaching $33 billion.

ETrade also said that it would detail its formal turnaround plan after its fourth quarter and fiscal statements are released on January 24th. So, investors may have to wait a little longer to see how viable the company’s turnaround plan really is for the future. However, ETFC is definitely a stock worth watching in the meantime!

Related Companies
TD Ameritrade Holding Corp. (AMTD)
Empire Financial Holding Company (EFH)
TradeStation Group Inc. (TRAD)