Charles Schwab Corp. announced late Wednesday that its acquisition of brokerage TD Ameritrade will close next Tuesday, Oct. 6.
The announcement followed the Federal Reserve’s approval Wednesday of Toronto Dominion Bank’s acquisition of an ownership stake in Charles Schwab in compensation for its stake in TD Ameritrade.
Separately, Morgan Stanley announced that its purchase of discount brokerage ETrade Financial Corp. will close Friday, following the Federal Reserve’s approval of the deal.
Schwab said in the statement that it will take 18 to 36 months to integrate TD Ameritrade into Schwab.
“Until then, Schwab and TD Ameritrade will continue to operate as separate broker-dealers, and clients of the two firms can continue to do business with their respective companies as they do today and can expect the same level of great service,” according to the statement. “More information will be made available to Schwab and TD Ameritrade clients once the transaction closes.”
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
