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In the News

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Schwab-TD Ameritrade Deal Is No Sure Thing

21:20 21 November in In the News by rafferty

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...

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Schwab to Buy TD Ameritrade for $26B: Report

17:30 21 November in In the News by rafferty

November 21, 2019 By Janet Levaux, ThinkAdvisor The move comes amid pressure on revenues caused by October's race to zero commissions Charles Schwab is set to buy TD Ameritrade for $26 billion, which could create a firm with some $5 trillion in client assets, according to a report from Fox Business. The move comes as the brokerage business has been racing to cut commissions to zero — which both firms moved to do last month. It also comes on the heels of Schwab’s plan, announced in July, to spend $1.8 billion on USAA’s brokerage and managed portfolio accounts, which have some $90 billion in client assets. Schwab, which has about $3.7 trillion in assets, and TD Ameritrade did not respond to requests for comment. Since the pricing pressures started in early October, TD Ameritrade’s stock price had...

Financial Advisor IQ a Financial Times Service

Advisor Group-Ladenburg Deal Aims to Nip Advisor Dissent In The Bud

16:46 15 November in In the News by rafferty

November 14, 2019 By Mrinalini Krishna, Financial Advisor IQ A key provision of Advisor Group’s acquisition of Ladenburg Thalmann was likely designed to keep potentially disgruntled advisors loyal after the merger, according to experts. Now that Advisor Group has inked a $1.3 billion deal to acquire some 4,500 advisors from Ladenburg Thalmann, the next step will be keeping as many as possible within its network. Industry recruiters point to provisions of the deal, including preserving existing brand names and the promise not to force Ladenburg Thalman FAs to immediately move client records to Advisor Group systems, as signs the buyer was careful to keep potentially disgruntled advisors loyal after the merger. “We are confident this transaction will help our advisors accelerate the growth of their businesses, while enabling them to benefit from the highly personalized...