Schwab-TD Ameritrade Deal Is No Sure Thing
November 21, 2019 By Janet Levaux, ThinkAdvisor A merger of the two larger brokerage firms faces antitrust and other hurdles, according to some key industry watchers. Charles Schwab’s reported move to purchase TD Ameritrade for $26 billion, reported early Thursday, is the talk of the industry and shouldn’t come as a surprise, industry watchers and advisors say. “It’s big news, as yet another example of the massive consolidation taking place in financial services,” said Vance Barse, wealth strategist and founder of the firm Your Dedicated Fiduciary. But don’t bet on the merger just yet, some say. “There are some potential antitrust issues,” according to Joel Bruckenstein, a certified financial planner and head of T3 Technology Hub. “These two firms have been fierce competitors for years on the advisor and consumer side. Will there still be sufficient...