Scottrade and TD Ameritrade

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SlowMovingInvestor
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Joined: Sun Sep 11, 2016 11:27 am

Scottrade and TD Ameritrade

Post by SlowMovingInvestor » Tue Oct 31, 2017 3:23 pm

I'm curious if anyone has any personal experiences with changes as a result of the Scottrade takeover by TDAM. There are a whole set of generic changes discussed on the Scottrade transition pages, and they say that accounts will be transitioned between Jan-March 2018.

Are there any concrete changes that Scottrade users have seen so far ? For instance, being informed that a particular Scottrade branch is being shut, or being given a new TDAM contact person to replace a Scottrade person ? I also wonder if Scottrade offices can access TDAM backend systems now (I got a message from someone in the Scottrade office which may imply that). From their web pages, this should not happen till Jan, but I was wondering if someone had seen some early changes.

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CABob
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Location: Southern California

Re: Scottrade and TD Ameritrade

Post by CABob » Tue Oct 31, 2017 3:55 pm

I have a Scottrade account and have not seen or heard of any changes so far. I am waiting to see if any of the changes make me want me to change brokers.
Bob

gostars
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Re: Scottrade and TD Ameritrade

Post by gostars » Tue Oct 31, 2017 4:01 pm

I got a mailed notification that my branch is closing and a phone call from someone to tell me about the change. Doesn't really affect me since I've never been to the branch, and I had moved after setting up the account and the new branch is much closer to me than the old one. I'm planning to switch brokers anyway to get a transfer bonus and better perks, so all I'm concerned with is that the changeover doesn't affect my ability to transfer out.

SlowMovingInvestor
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Re: Scottrade and TD Ameritrade

Post by SlowMovingInvestor » Tue Oct 31, 2017 4:34 pm

gostars wrote:
Tue Oct 31, 2017 4:01 pm
I got a mailed notification that my branch is closing and a phone call from someone to tell me about the change. Doesn't really affect me since I've never been to the branch, and I had moved after setting up the account and the new branch is much closer to me than the old one. I'm planning to switch brokers anyway to get a transfer bonus and better perks, so all I'm concerned with is that the changeover doesn't affect my ability to transfer out.
Thanks. I don't really use the Scottrade branch either, but I do like the people there and I hope they get transferred to the TDAM office purely for personal reasons.

When it comes to back end stuff, I do hope that TDAM keeps the Morningstar analyst reports of mutual funds and ETFs that Scottrade provides currently. Even if I don't agree with Morningstar's star ratings, their discussion on MFs and ETFs is interesting to read.

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CABob
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Location: Southern California

Re: Scottrade and TD Ameritrade

Post by CABob » Tue Oct 31, 2017 7:53 pm

Since I have had Scottrade account I have been assigned to 4 or more branch offices, only one of which I have visited. Existing TDA offices are a ways away so I don't expect to be reassigned as part of this merger, but who knows.
Bob

DrGoogle2017
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Re: Scottrade and TD Ameritrade

Post by DrGoogle2017 » Tue Oct 31, 2017 9:46 pm

I was told they cannot retroactively remove fees from my old trades. In the past Scottrade can do that. However they did give me 70 new free trades.

student
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Re: Scottrade and TD Ameritrade

Post by student » Tue Oct 31, 2017 10:14 pm

I know some people took advantage of TDA offers and moved money from Scottrade to TDA for transfer bonus.

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