In a move to help secure the stability of the two investment banking giants, Federal regulators have moved to allow Goldman Sachs and Morgan Stanley to become bank holding companies. This move allows them to begin taking commercial deposits and provide general banking services, which potentially increases each company's assets and revenue streams.

For parents or grandparents saving for college, this may add a couple of high-end savings options to their menu. Previously, access to investments and advice from both of these companies has been reserved for high net-worth individuals. There is the potential, that as these two exclusive firms open up to commercial and retail banking, more middle-class investors may gain access to some of the elite services these firms have come to be known for.