Retail broker TD Ameritrade buys Scottrade in $4 billion deal
: On October 24, 2016, TD Ameritrade revealed it would buy Scottrade to gain scale in an industry pressured by the rise of low-cost index funds and robo-advisors.
: Customers kept their assets but gained access to TD Ameritrade’s tools, such as the thinkorswim platform, though some missed Scottrade’s specific mutual fund policies. Where are those accounts now? td ameritrade buys scottrade
: In February 2018 , Scottrade accounts were automatically migrated to the TD Ameritrade platform.
: For several months after the close, Scottrade operated as a separate entity to ensure a "seamless transition" for its clients. Retail broker TD Ameritrade buys Scottrade in $4
In October 2016, TD Ameritrade announced a massive deal to acquire its rival, Scottrade Financial Services. This "helpful story" explains what happened during that merger and where those accounts are today. The Acquisition (2016–2017)
: The deal was split into two parts: TD Bank Group bought Scottrade Bank for $1.4 billion , while TD Ameritrade acquired the brokerage operations for $2.7 billion in cash and stock. : In February 2018 , Scottrade accounts were
: The acquisition officially closed on September 18, 2017 . The Client Transition (2018)