Broker Check
Schwab Purchase of TD Ameritrade moving foward

Schwab Purchase of TD Ameritrade moving foward

| October 14, 2020

Schwab's purchase of TD Ameritrade has received final approval. The full integration of the two firms  which announced the transaction 10 months ago  should take 18 to 36 months to complete after the deal officially closes. This means the technology tie-up and related efforts won’t be done until April 2022 at the earliest and by October 2023 at the latest.

Meanwhile, we are already getting geared up for the opportunities that Schwab offers to those of us who are currently managing client money at TD Ameritrade. Irina and I are attending (virtually, of course), Schwab's annual conference the last week of October. During the conference, Schwab will showcase their enhanced technology and services to advisors, as well as in depth training and insights on providing high quality investment management for client portfolios. The conference also will offer details on their plans for a smooth glide path for both advisors and their clients in becoming Schwab investment clients.

We are excited about the opportunities that Schwab offers to us and our clients. Stay tuned for more details as the transition gets further down the path. We don't expect our clients to see any changes for a couple of years.