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TD Ameritrade Tag

Financial Advisor IQ a Financial Times Service

B-D Recruiters Poised to Scoop Up Unhappy FAs in Mega-Merger Fallout

21:55 14 February in In the News by rafferty

January 20, 2020 By Mrinalini Krishna, Financial Advisor IQ Broker-dealer recruiters are getting set for a big year of advisor movement off the back of last year’s mega-mergers. The last quarter of 2019 rounded up with the announcement of two mega-mergers — Charles Schwab’s acquisition of TD Ameritrade and the Ladenburg Thalmann-Advisor Group deal. At that time, many recruiters considered those announcements opportunities for competitors to lure any unhappy advisors left in the wake of those unions. And some broker-dealer recruitment bosses agree. The Ladenburg Thalmann-Advisor Group deal LPL Financial’s managing director and divisional president of business development Rich Steinmeier is confident of the firm’s chances of nabbing independent advisors, especially in the aftermath of the Ladenburg Thalmann and Advisor Group deal. “Traditionally, when you see a firm change hands, there usually is an increased number...

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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...