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.”
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
