Blog by Greg Storen, MBA – Financial Advisor, Senior Tax Professional
Some of you may have heard Charles Schwab is bidding to acquire TD Ameritrade for $26 Billion. This deal is not completed and only a bid to purchase. We wanted to reach out to our clients and make sure you are aware of the news and also assure you, this will not have any impact on your portfolio’s or financial plan. We manage your money internally at Storen and TD Ameritrade executes the trades we request. If the transaction actually happens, the only impact would be a name change on your monthly statement to Charles Schwab. If you have any further questions, please let us know.
Schwab Seizes on Industry Turmoil With Plan to Buy TD Ameritrade
Article from www.bloomberg.com
First, Charles Schwab Corp. upended the retail brokerage business by cutting commissions to zero. Now, it’s seizing on the turmoil it unleashed to acquire one of its biggest rivals, TD Ameritrade Holding Corp. Just weeks after Schwab stunned competitors by letting customers trade stocks for free, the company is moving to tighten its grip on the industry with talks to acquire TD Ameritrade, according to a person familiar with the matter.
The deal would give Schwab, America’s original discount broker, even more sway over the industry it pioneered nearly a half-century ago — and an edge in the intensifying battle for ordinary investors’ dollars, and the investment adviser business. The tie-up would result in a $5 trillion titan, but analysts say it could attract antitrust scrutiny. Click here to continue reading this article.