Schwab acquiring TD Ameritrade

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
User avatar
Topic Author
galawdawg
Posts: 272
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Schwab acquiring TD Ameritrade

Post by galawdawg » Thu Nov 21, 2019 6:02 am

Maria Bartiromo of Fox Business just broke the news that Schwab will acquire TD Ameritrade for $26 billion. Her panel all remarked that the brokerage industry is no longer about selling securities, it is about asset management.

I wouldn't expect this to affect those who are at Schwab, but how does this affect customers of TD Ameritrade? For those who have gone through the acquisition of a brokerage firm as a customer, how has it affected you?

livesoft
Posts: 68710
Joined: Thu Mar 01, 2007 8:00 pm

Re: Schwab acquiring TD Ameritrade

Post by livesoft » Thu Nov 21, 2019 6:36 am

I've had accounts since 1994 at what is now TDAmeritrade. The effect of a buyout or sale is generally better service and lower costs. For instance when Ameritrade bought TDWaterhouse, no big deal. Perhaps that is because I have only used no-commission investments at several financial institutions, so that I am not fragile.

Furthermore it usually takes years to truly integrate the different platforms when 2 firms come together.

But the thread title may be premature. I still see "in talks" versus "done deal" in news articles.
Wiki This signature message sponsored by sscritic: Learn to fish.

User avatar
Topic Author
galawdawg
Posts: 272
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Schwab acquiring TD Ameritrade

Post by galawdawg » Thu Nov 21, 2019 6:51 am

https://www.foxbusiness.com/markets/cha ... de-for-26b

Maria Bartiromo broke the news. She reported that the deal was approved by the board late last night and that the announcement is expected this morning. We will soon know how reliable her "exclusive" sources are!

RagnarRahl
Posts: 20
Joined: Fri Feb 09, 2018 8:33 am

Re: Schwab acquiring TD Ameritrade

Post by RagnarRahl » Thu Nov 21, 2019 6:56 am

That is really interesting for me because I have accounts at both TDA and Schwab, and was considering consolidating them at Schwab. Guess I will just wait until they do it for me.

User avatar
DartThrower
Posts: 906
Joined: Wed Mar 11, 2009 4:10 pm
Location: Philadelphia

Re: Schwab acquiring TD Ameritrade

Post by DartThrower » Thu Nov 21, 2019 6:57 am

Bloomberg news reported that CNBC broke the news. In any case, I hope that competition in the industry remains healthy and vigorous. I just moved money to Schwab a few months ago for the first time and I expect service to remain excellent, and costs to remain low.
A Boglehead can stay the course longer than the market can stay irrational.

User avatar
Topic Author
galawdawg
Posts: 272
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Schwab acquiring TD Ameritrade

Post by galawdawg » Thu Nov 21, 2019 7:07 am

DartThrower wrote:
Thu Nov 21, 2019 6:57 am
Bloomberg news reported that CNBC broke the news. In any case, I hope that competition in the industry remains healthy and vigorous. I just moved money to Schwab a few months ago for the first time and I expect service to remain excellent, and costs to remain low.
It looks like CNBC is still reporting that they are in "talks". Fox Business is "exclusively" reporting that the acquisition has been approved by the board and the announcement is expected at 8:30 am.

Bartiromo reports that Schwab CEO Walter Bettinger will run the company and that TD Ameritrade CFO Steve Boyle will be interim CEO for TD Ameritrade.
Last edited by galawdawg on Thu Nov 21, 2019 7:32 am, edited 1 time in total.

bondsr4me
Posts: 1244
Joined: Fri Oct 18, 2013 7:08 am

Re: Schwab acquiring TD Ameritrade

Post by bondsr4me » Thu Nov 21, 2019 7:32 am

RagnarRahl wrote:
Thu Nov 21, 2019 6:56 am
That is really interesting for me because I have accounts at both TDA and Schwab, and was considering consolidating them at Schwab. Guess I will just wait until they do it for me.
That's about where I am now; waiting to see how things shake out.
Schwab has StreetSmartEdge and TDA has ThinkorSwim platform.
I will be curious to see which platform Schwab keeps.
When CS acquired OptionsExpress, they closed down OE.
I really liked the OE platform; more so than SSE.

TOS is a very good platform, but it can be kinda complicated, especially for the inexperienced.

It will be very interesting to see how things shake down.

Hmmmm.....I wonder who will buy Vanguard???
Do ya think they will ask us "owners" for approval....yeah, right.
Time will tell.

User avatar
beyou
Posts: 2851
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Schwab acquiring TD Ameritrade

Post by beyou » Thu Nov 21, 2019 7:44 am

Moving to asset management.... great business strategy.
I wonder what % of clients at Vanguard or these “discount” brokers will pay for PAS like services.

Personally don’t need that, simple AA and index funds are good enough. The main improvement Vanguard could make is to stop the PAS popups.

livesoft
Posts: 68710
Joined: Thu Mar 01, 2007 8:00 pm

Re: Schwab acquiring TD Ameritrade

Post by livesoft » Thu Nov 21, 2019 7:46 am

beyou wrote:
Thu Nov 21, 2019 7:44 am
The main improvement Vanguard could make is to stop the PAS popups.
For many people, an improvement would be answering phone hours on nights and weekends.
Wiki This signature message sponsored by sscritic: Learn to fish.

edge
Posts: 3443
Joined: Mon Feb 19, 2007 7:44 pm
Location: NY

Re: Schwab acquiring TD Ameritrade

Post by edge » Thu Nov 21, 2019 7:51 am

Did she mean ‘investment management’? TD does not do much asset management afaik.
galawdawg wrote:
Thu Nov 21, 2019 6:02 am
Maria Bartiromo of Fox Business just broke the news that Schwab will acquire TD Ameritrade for $26 billion. Her panel all remarked that the brokerage industry is no longer about selling securities, it is about asset management.

I wouldn't expect this to affect those who are at Schwab, but how does this affect customers of TD Ameritrade? For those who have gone through the acquisition of a brokerage firm as a customer, how has it affected you?

User avatar
beyou
Posts: 2851
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Schwab acquiring TD Ameritrade

Post by beyou » Thu Nov 21, 2019 7:52 am

livesoft wrote:
Thu Nov 21, 2019 7:46 am
beyou wrote:
Thu Nov 21, 2019 7:44 am
The main improvement Vanguard could make is to stop the PAS popups.
For many people, an improvement would be answering phone hours on nights and weekends.
What is a phone ? Is that what people used to use before online service decades ago ? Do you “dial” them ?

livesoft
Posts: 68710
Joined: Thu Mar 01, 2007 8:00 pm

Re: Schwab acquiring TD Ameritrade

Post by livesoft » Thu Nov 21, 2019 7:54 am

OK, change the word "phone" to "questions"
Wiki This signature message sponsored by sscritic: Learn to fish.

rascott
Posts: 1114
Joined: Wed Apr 15, 2015 10:53 am

Schwab Buying TD Ameritrade

Post by rascott » Thu Nov 21, 2019 7:54 am

[Merged into existing topic -- mod oldcomputerguy]

https://www.foxbusiness.com/markets/cha ... de-for-26b


Sorry.... missed there was another thread.
Last edited by rascott on Thu Nov 21, 2019 7:55 am, edited 1 time in total.

User avatar
RickBoglehead
Posts: 5044
Joined: Wed Feb 14, 2018 9:10 am
Location: In a house

Re: Schwab Buying TD Ameritrade

Post by RickBoglehead » Thu Nov 21, 2019 7:55 am

Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.

-ryan-
Posts: 85
Joined: Fri Mar 01, 2019 7:14 am

Re: Schwab acquiring TD Ameritrade

Post by -ryan- » Thu Nov 21, 2019 8:02 am

edge wrote:
Thu Nov 21, 2019 7:51 am
Did she mean ‘investment management’? TD does not do much asset management afaik.
galawdawg wrote:
Thu Nov 21, 2019 6:02 am
Maria Bartiromo of Fox Business just broke the news that Schwab will acquire TD Ameritrade for $26 billion. Her panel all remarked that the brokerage industry is no longer about selling securities, it is about asset management.

I wouldn't expect this to affect those who are at Schwab, but how does this affect customers of TD Ameritrade? For those who have gone through the acquisition of a brokerage firm as a customer, how has it affected you?
A client's investments are the assets being managed. When I was in the field, 'investment management' was the term we used with the client, and 'asset management' was the term we used within the office and when talking with our custodian (TD, for what it's worth).

Not sure if that answers your question or if I may have missed something?

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Schwab acquiring TD Ameritrade

Post by SlowMovingInvestor » Thu Nov 21, 2019 8:07 am

Maybe we'll see an end to TDAM bonuses shortly, since Schwab is already cutting back on bonuses except for new customers (they had one offer for existing customers in November, which was pulled in a few weeks).

ADDED: Although oddly, Scottrade continued to offer bonuses, even for transfers from TDAM even after the merger was announced.
Last edited by SlowMovingInvestor on Thu Nov 21, 2019 8:17 am, edited 1 time in total.

User avatar
Just sayin...
Posts: 271
Joined: Tue Oct 09, 2007 10:12 am

Re: Schwab acquiring TD Ameritrade

Post by Just sayin... » Thu Nov 21, 2019 8:08 am

As a Schwab customer, I'm curious what TD brings to the table. Are their trading tools better? Do they have a more comprehensive view of non-local accounts (i.e. like Personal Capital)? Do they have access to a wider selection of bonds? Cautiously optimistic...

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Schwab acquiring TD Ameritrade

Post by SlowMovingInvestor » Thu Nov 21, 2019 8:14 am

Just sayin... wrote:
Thu Nov 21, 2019 8:08 am
As a Schwab customer, I'm curious what TD brings to the table. Are their trading tools better? Do they have a more comprehensive view of non-local accounts (i.e. like Personal Capital)? Do they have access to a wider selection of bonds? Cautiously optimistic...
1) I think their thinkorswim platform is likely better than Schwab's active trading platform.

2) I haven't used account view, but I think all major aggregators use Yodlee so maybe not much difference.

3) I doubt they have access to a wider selection of bonds, since Schwab is so much bigger.

I think TD primarily brings customers and assets to the table. Lots of consolidation since they can shut down offices.

User avatar
dodecahedron
Posts: 4826
Joined: Tue Nov 12, 2013 12:28 pm

Re: Schwab acquiring TD Ameritrade

Post by dodecahedron » Thu Nov 21, 2019 8:20 am

Just sayin... wrote:
Thu Nov 21, 2019 8:08 am
As a Schwab customer, I'm curious what TD brings to the table. Are their trading tools better? Do they have a more comprehensive view of non-local accounts (i.e. like Personal Capital)? Do they have access to a wider selection of bonds? Cautiously optimistic...
What TD brings to the table for Schwab is customer acquisition and some scale economies. My area has brick and mortar retail locations for both Schwab and TD. I am guessing one of them will be closed down, saving the merged company some money.

What TD might bring to the table for me (depending on how things shake out) is that the TD location is significantly better for me than Schwab´s location. (Closer to me, less traffic congestion, better parking, no waiting for an elevator to go up to their high floor.)

Nowizard
Posts: 2356
Joined: Tue Oct 23, 2007 5:33 pm

Re: Schwab acquiring TD Ameritrade

Post by Nowizard » Thu Nov 21, 2019 8:49 am

We were with Scottrade before being acquired by TD Ameritrade. We purchase a limited number of individual stocks, have had large amounts in cash accounts for short periods of time that were wired in and out. TD Ameritrade was easier to use than Scottrade for wire transfers. Other differences were limited to becoming familiar with the Ameritrade web site which was more extensive than Scottrade. No problems and can still use log in information from Scottrade to access or the new information from the acquisition.

Tim

seymore92
Posts: 58
Joined: Sun Nov 27, 2016 9:16 am

Re: Schwab acquiring TD Ameritrade

Post by seymore92 » Thu Nov 21, 2019 8:56 am

How is TD Bank affected? Is that included in the acquisition?

User avatar
sperry8
Posts: 1916
Joined: Sat Mar 29, 2008 9:25 pm
Location: Miami FL

Re: Schwab acquiring TD Ameritrade

Post by sperry8 » Thu Nov 21, 2019 8:56 am

Just sayin... wrote:
Thu Nov 21, 2019 8:08 am
As a Schwab customer, I'm curious what TD brings to the table. Are their trading tools better? Do they have a more comprehensive view of non-local accounts (i.e. like Personal Capital)? Do they have access to a wider selection of bonds? Cautiously optimistic...
TD allows us to access the M* X-Ray feature for free. Hopefully they keep that as part of the new platform
BH contest results: 2018: #150 of 493 | 2017: #516 of 647 | 2016: #121 of 610 | 2015: #18 of 552 | 2014: #225 of 503 | 2013: #383 of 433 | 2012: #366 of 410 | 2011: #113 of 369 | 2010: #53 of 282

User avatar
Nate79
Posts: 5177
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: Schwab acquiring TD Ameritrade

Post by Nate79 » Thu Nov 21, 2019 9:03 am

seymore92 wrote:
Thu Nov 21, 2019 8:56 am
How is TD Bank affected? Is that included in the acquisition?
They are not part of the same company anymore so has nothing to do with this acquisition.

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab acquiring TD Ameritrade

Post by student » Thu Nov 21, 2019 9:05 am

RagnarRahl wrote:
Thu Nov 21, 2019 6:56 am
That is really interesting for me because I have accounts at both TDA and Schwab, and was considering consolidating them at Schwab. Guess I will just wait until they do it for me.
You should do it now to get transfer bonus.

User avatar
SlowMovingInvestor
Posts: 1428
Joined: Sun Sep 11, 2016 11:27 am

Re: Schwab acquiring TD Ameritrade

Post by SlowMovingInvestor » Thu Nov 21, 2019 9:06 am

student wrote:
Thu Nov 21, 2019 9:05 am
RagnarRahl wrote:
Thu Nov 21, 2019 6:56 am
That is really interesting for me because I have accounts at both TDA and Schwab, and was considering consolidating them at Schwab. Guess I will just wait until they do it for me.
You should do it now to get transfer bonus.
Schwab doesn't really have a bonus now for existing customers, unless you're transferring large $. And in that case, I can't believe they'd approve a transfer from TDAM.

You could go the other way and transfer from Schwab to TDAM and pick up a bonus.

User avatar
burnsh
Posts: 144
Joined: Sat Jan 10, 2009 3:09 pm
Location: San Antonio, TX

Re: Schwab acquiring TD Ameritrade

Post by burnsh » Thu Nov 21, 2019 9:10 am

I guess Schawb is having a buying spree, they recently bought the asset's of USAA's investment management company, including brokerage and managed portfolio accounts for $1.8 billion in cash.
Burnsh | ______________________________________ | VFIAX 17%, VVIAX 17%, VEXAX 16%, VTIAX 21%, VGSIX 9%, VIPSX 10%, VBMFX 10%

livesoft
Posts: 68710
Joined: Thu Mar 01, 2007 8:00 pm

Re: Schwab acquiring TD Ameritrade

Post by livesoft » Thu Nov 21, 2019 9:13 am

I haven't seen anybody post a query about their "Schwab-run employer 401(k)" plan. TDAmeritrade is a custodian for many company 401(k) plans, so that might be something although I will admit it is one of the worst things about TDAmeritrade. And in case anyone is confused, I am not writing about individual 401(k) or solo 401(k) which TDAmeritrade does rather well.
Wiki This signature message sponsored by sscritic: Learn to fish.

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab acquiring TD Ameritrade

Post by student » Thu Nov 21, 2019 9:19 am

SlowMovingInvestor wrote:
Thu Nov 21, 2019 9:06 am
student wrote:
Thu Nov 21, 2019 9:05 am
RagnarRahl wrote:
Thu Nov 21, 2019 6:56 am
That is really interesting for me because I have accounts at both TDA and Schwab, and was considering consolidating them at Schwab. Guess I will just wait until they do it for me.
You should do it now to get transfer bonus.
Schwab doesn't really have a bonus now for existing customers, unless you're transferring large $. And in that case, I can't believe they'd approve a transfer from TDAM.

You could go the other way and transfer from Schwab to TDAM and pick up a bonus.
I did it a few weeks ago as an existing customer (modest amount). There was a link on this board and I went to the branch to activate it. (This is a different data point but I vaguely remember people talking about getting bonus transferring from Scottrade to TDA for the bonus after the announcement of merger, and Scottrade actually paid a retention bonus due to the structure of the deal regarding asset size.)

Edit: The offer that I mentioned has ended...
Last edited by student on Thu Nov 21, 2019 9:34 am, edited 2 times in total.

snowman
Posts: 970
Joined: Thu Jan 31, 2013 12:59 pm

Re: Schwab acquiring TD Ameritrade

Post by snowman » Thu Nov 21, 2019 9:23 am

I was afraid this will happen when Schwab announced $0 commissions. TDA was/is a reliable bonus giver. Pretty soon, bonuses will be a thing of the past.

User avatar
David Jay
Posts: 7320
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Schwab acquiring TD Ameritrade

Post by David Jay » Thu Nov 21, 2019 9:25 am

galawdawg wrote:
Thu Nov 21, 2019 6:02 am
I wouldn't expect this to affect those who are at Schwab, but how does this affect customers of TD Ameritrade? For those who have gone through the acquisition of a brokerage firm as a customer, how has it affected you?
The insignia in the upper left corner of the envelope changes.

I had an account at Ameritrade. One day an envelope arrived that said “TDAmeritrade” in the upper left corner. Seriously, no change.

In this Web-centric world, a TDA user may face a screen change to the Schwab user interface.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab acquiring TD Ameritrade

Post by student » Thu Nov 21, 2019 9:26 am

snowman wrote:
Thu Nov 21, 2019 9:23 am
I was afraid this will happen when Schwab announced $0 commissions. TDA was/is a reliable bonus giver. Pretty soon, bonuses will be a thing of the past.
Etrade and Merrill Edge still give bonuses, although I don't see Etrade can stay independent for long.

BuddyJet
Posts: 259
Joined: Mon Jun 24, 2019 8:56 pm

Re: Schwab acquiring TD Ameritrade

Post by BuddyJet » Thu Nov 21, 2019 9:30 am

snowman wrote:
Thu Nov 21, 2019 9:23 am
I was afraid this will happen when Schwab announced $0 commissions. TDA was/is a reliable bonus giver. Pretty soon, bonuses will be a thing of the past.
But was a profitable game while it lasted. My TDA $6.6k bonus posted yesterday so my moveable funds are locked for a year and I’ll sit on sidelines for the year and see where things go.
People say nothing is impossible. I do nothing all day.

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab acquiring TD Ameritrade

Post by student » Thu Nov 21, 2019 9:31 am

BuddyJet wrote:
Thu Nov 21, 2019 9:30 am
snowman wrote:
Thu Nov 21, 2019 9:23 am
I was afraid this will happen when Schwab announced $0 commissions. TDA was/is a reliable bonus giver. Pretty soon, bonuses will be a thing of the past.
But was a profitable game while it lasted. My TDA $6.6k bonus posted yesterday so my moveable funds are locked for a year and I’ll sit on sidelines for the year and see where things go.
Wow. $6.6k. You must have a large account.

rich126
Posts: 948
Joined: Thu Mar 01, 2018 4:56 pm

Re: Schwab acquiring TD Ameritrade

Post by rich126 » Thu Nov 21, 2019 9:33 am

Definitely not a fan of the reduced competition going on.

My history

Account with ThinkOrSwim. Very good apps that ran on Macs and not just Windows (referring to Scottrade). That got acquired by TD.
Accounts with Scottrade, that got acquired by TD. And now TD getting acquired by Schwab. A company I have zero history with (at least in the last couple decades).

I'm not a fan of Vanguard at all so that leaves Fidelity.

At a minimum I'll move out 50% of my money to Fidelity once details are given. (Fidelity was recent addition for me due to a job change and my HSA/401K being there.)

MichDad
Posts: 481
Joined: Sat Apr 20, 2013 3:50 pm

Re: Schwab acquiring TD Ameritrade

Post by MichDad » Thu Nov 21, 2019 9:39 am

This is indeed interesting. Three days ago, I worked with a TD Ameritrade representative to set up a new taxable brokerage account there and fund it by moving over a Vanguard mutual fund holding I have invested at Vanguard. Ameritrade will accept the transfer in its original form (as a Vanguard mutual fund). I don't have to liquidate it and realize my capital gains. My motivation is to receive a $700 cash transfer bonus. Free money. As of this morning, the fund hasn't yet been pulled from Vanguard. I'm just a novice at the transfer bonus game but so far this year, have qualified, with little effort, for a total of $2,950 in bonuses.

My wife and I have several holdings with Schwab and really like that company.

MichDad

snowman
Posts: 970
Joined: Thu Jan 31, 2013 12:59 pm

Re: Schwab acquiring TD Ameritrade

Post by snowman » Thu Nov 21, 2019 9:44 am

livesoft wrote:
Thu Nov 21, 2019 6:36 am
I've had accounts since 1994 at what is now TDAmeritrade. The effect of a buyout or sale is generally better service and lower costs. For instance when Ameritrade bought TDWaterhouse, no big deal. Perhaps that is because I have only used no-commission investments at several financial institutions, so that I am not fragile.
Been there as well, you forgot one acquisition in the middle. It went from Waterhouse to Datek Online to Ameritrade. Waterhouse to Datek was a big, positive change, as it brought an old, non-competitive player into the online world with better, faster interface and much lower online commissions. Ameritrade acquired Datek shortly thereafter, but retained TD name and online interface (very similar to what we see today, almost 20 years later).

GetMeToRetirement
Posts: 30
Joined: Thu Jan 18, 2018 9:26 am

Re: Schwab acquiring TD Ameritrade

Post by GetMeToRetirement » Thu Nov 21, 2019 9:46 am

I had a Roth IRA through Scottrade, and the transition to TD Ameritrade, while somewhat delayed, was painless. All I had to do was click a link that was emailed to me, then create a TD Ameritrade username and password.

The investment portion of my hsabank HSA account is also with TD Ameritrade. I would think that hsabank will stay with Schwab as an investment option. I also hope and expect that Schwab will charge no new or different fees from TD, and that there will be plenty of commission-free investment options once it is moved to Schwab.

User avatar
Topic Author
galawdawg
Posts: 272
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Schwab acquiring TD Ameritrade

Post by galawdawg » Thu Nov 21, 2019 9:57 am

MichDad wrote:
Thu Nov 21, 2019 9:39 am
This is indeed interesting. Three days ago, I worked with a TD Ameritrade representative to set up a new taxable brokerage account there and fund it by moving over a Vanguard mutual fund holding I have invested at Vanguard. Ameritrade will accept the transfer in its original form (as a Vanguard mutual fund). I don't have to liquidate it and realize my capital gains. My motivation is to receive a $700 cash transfer bonus. Free money. As of this morning, the fund hasn't yet been pulled from Vanguard. I'm just a novice at the transfer bonus game but so far this year, have qualified, with little effort, for a total of $2,950 in bonuses.

My wife and I have several holdings with Schwab and really like that company.

MichDad
We moved a substantial part of our portfolio in-kind from Vanguard to E*Trade last month. The ACATS transfer in-kind took six calendar days to complete. We opened the account on a Wednesday afternoon, on Monday morning E*Trade notified us the transfer had been accepted and on Tuesday the funds were out of Vanguard and in E*Trade. Our Vanguard balances dropped to reflect the transfer at about the same time that our E*Trade balances increased to reflect the transfer.

Cost basis information takes additional time to move over.

User avatar
JAZZISCOOL
Posts: 364
Joined: Sat May 18, 2019 11:49 am
Location: Colorado - 5,700 ft.

Re: Schwab acquiring TD Ameritrade

Post by JAZZISCOOL » Thu Nov 21, 2019 10:53 am

Nate79 wrote:
Thu Nov 21, 2019 9:03 am
seymore92 wrote:
Thu Nov 21, 2019 8:56 am
How is TD Bank affected? Is that included in the acquisition?
They are not part of the same company anymore so has nothing to do with this acquisition.
Per Barrons, the banking agreement TD has with Ameritrade through 2021 could be an issue.

https://www.barrons.com/articles/charle ... 1574344723

User avatar
jhfenton
Posts: 4269
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: Schwab acquiring TD Ameritrade

Post by jhfenton » Thu Nov 21, 2019 10:58 am

snowman wrote:
Thu Nov 21, 2019 9:44 am
Been there as well, you forgot one acquisition in the middle. It went from Waterhouse to Datek Online to Ameritrade. Waterhouse to Datek was a big, positive change, as it brought an old, non-competitive player into the online world with better, faster interface and much lower online commissions. Ameritrade acquired Datek shortly thereafter, but retained TD name and online interface (very similar to what we see today, almost 20 years later).
Your post confused me, because I was a customer with TD Waterhouse from 1998 through 2015, and I had barely ever heard of Datek. My account certainly never came under the name Datek.

Based on research, Ameritrade bought Datek in 2002. Ameritrade acquired TD Waterhouse in 2006.
Last edited by jhfenton on Thu Nov 21, 2019 10:59 am, edited 1 time in total.

student
Posts: 4142
Joined: Fri Apr 03, 2015 6:58 am

Re: Schwab acquiring TD Ameritrade

Post by student » Thu Nov 21, 2019 10:59 am

snowman wrote:
Thu Nov 21, 2019 9:44 am
livesoft wrote:
Thu Nov 21, 2019 6:36 am
I've had accounts since 1994 at what is now TDAmeritrade. The effect of a buyout or sale is generally better service and lower costs. For instance when Ameritrade bought TDWaterhouse, no big deal. Perhaps that is because I have only used no-commission investments at several financial institutions, so that I am not fragile.
Been there as well, you forgot one acquisition in the middle. It went from Waterhouse to Datek Online to Ameritrade. Waterhouse to Datek was a big, positive change, as it brought an old, non-competitive player into the online world with better, faster interface and much lower online commissions. Ameritrade acquired Datek shortly thereafter, but retained TD name and online interface (very similar to what we see today, almost 20 years later).
I don't think that is the case. I believe TD bought Waterhouse to become TD Waterhouse, and Ameritrade bought Datek. Then TD Waterhoue and Ameritrade merged to become TDAmeritrade. See https://www.amtd.com/about-us/our-history/ 2002 and 2006.

User avatar
jhfenton
Posts: 4269
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: Schwab acquiring TD Ameritrade

Post by jhfenton » Thu Nov 21, 2019 11:00 am

student wrote:
Thu Nov 21, 2019 10:59 am
I don't think that is the case. I believe TD bought Waterhouse to become TD Waterhouse, and Ameritrade bought Datek. Then TD Waterhoue and Ameritrade merged to become TDAmeritrade. See https://www.amtd.com/about-us/our-history/ 2002 and 2006.
Correct. :beer

User avatar
HueyLD
Posts: 7239
Joined: Mon Jan 14, 2008 10:30 am

Re: Schwab acquiring TD Ameritrade

Post by HueyLD » Thu Nov 21, 2019 11:41 am

livesoft wrote:
Thu Nov 21, 2019 7:46 am
beyou wrote:
Thu Nov 21, 2019 7:44 am
The main improvement Vanguard could make is to stop the PAS popups.
For many people, an improvement would be answering phone hours on nights and weekends.
Or answer the phone without telling the caller that Vanguard will call him/her back but the call back never happens.

HenryPorter
Posts: 197
Joined: Sat Dec 05, 2009 2:09 am

Re: Schwab acquiring TD Ameritrade

Post by HenryPorter » Thu Nov 21, 2019 12:00 pm

I am about 80% happy with the acquisition. I have an IRA at TDA and their mutual fund options are not as good as Schwab. On the other hand, I have some mixed feelings about Schwab getting too big. I had an account with them years ago before transferring it. Some experiences with their customer service was not positive. This was years ago though. Maybe they are not the same as I remember.
Last edited by HenryPorter on Thu Nov 21, 2019 12:07 pm, edited 1 time in total.

HawkeyePierce
Posts: 742
Joined: Tue Mar 05, 2019 10:29 pm
Location: Colorado

Re: Schwab acquiring TD Ameritrade

Post by HawkeyePierce » Thu Nov 21, 2019 12:05 pm

My HSA and Vanguard 401k brokerage window are both at TDA. I'll be interested to see what happens since those aren't really "pure" TDA accounts.

bradinsky
Posts: 166
Joined: Sat Jul 21, 2018 6:32 am

TD Ameritrade

Post by bradinsky » Thu Nov 21, 2019 12:42 pm

[Merged into the active discussion -- moderator oldcomputerguy]

Because of the wide range of views on this forum, I’m curious as to everyone’s thoughts on this announcement.
“The brokerage wars are heating up.
Charles Schwab is buying Ameritrade for $26 billion, sources tell FOX Business' Maria Bartiromo exclusively. TD Ameritrade shares soared on the news while Charles Schwab was higher.
The deal, expected to be announced this morning, will allow Charles Schwab to better compete with the likes of BlackRock.“

TallBoy29er
Posts: 773
Joined: Thu Jul 18, 2013 9:06 pm

Re: TD Ameritrade

Post by TallBoy29er » Thu Nov 21, 2019 12:43 pm

multiple other threads. check there

viewtopic.php?p=4850175#p4850175

Jack FFR1846
Posts: 10503
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: TD Ameritrade

Post by Jack FFR1846 » Thu Nov 21, 2019 12:45 pm

I hope they keep the TDA pages close to where they currently are. They're my go to when I want to learn something. I have both Schwab and TDA accounts. Both companies are pretty good at not bothering me and the services are best in the industry in my opinion.
Bogle: Smart Beta is stupid

Sconie
Posts: 762
Joined: Sun Feb 07, 2010 10:23 am
Location: Arizona

Re: TD Ameritrade

Post by Sconie » Thu Nov 21, 2019 12:47 pm

Consolidation for an industry needing to both gather increasing volumes of assets, while simultaneously cutting costs. IIRC, TD Ameritrade, while publicly trades, was still largely controlled out of Canada, the "TD" moniker being derived from "Toronto Dominion."
I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant. - Alan Greenspan

edge
Posts: 3443
Joined: Mon Feb 19, 2007 7:44 pm
Location: NY

Re: Schwab acquiring TD Ameritrade

Post by edge » Thu Nov 21, 2019 2:27 pm

Investment management is client focused, like an RIA. Asset management is managing a pool of dollars to a prospectus aka ‘running money’.
-ryan- wrote:
Thu Nov 21, 2019 8:02 am
edge wrote:
Thu Nov 21, 2019 7:51 am
Did she mean ‘investment management’? TD does not do much asset management afaik.
galawdawg wrote:
Thu Nov 21, 2019 6:02 am
Maria Bartiromo of Fox Business just broke the news that Schwab will acquire TD Ameritrade for $26 billion. Her panel all remarked that the brokerage industry is no longer about selling securities, it is about asset management.

I wouldn't expect this to affect those who are at Schwab, but how does this affect customers of TD Ameritrade? For those who have gone through the acquisition of a brokerage firm as a customer, how has it affected you?
A client's investments are the assets being managed. When I was in the field, 'investment management' was the term we used with the client, and 'asset management' was the term we used within the office and when talking with our custodian (TD, for what it's worth).

Not sure if that answers your question or if I may have missed something?

Post Reply