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Schwab's reported TD Ameritrade deal leaves 10,000 RIAs in twilight zone as weekend begins with an unconfirmed, undenied merger report causing many to weigh options

The RIA custodians are apparently merging despite view that separate ownership and approaches are the big reasons for parking assets there

Authors Brooke Southall, Lisa Shidler and Oisin Breen November 23, 2019 at 9:17 PM
no description available
Ron Tamayo: “If the merger is approved, we’re adamant that we’ll be looking for another custodian.

RIA Custodians

Lewis bence

Lewis bence

November 24, 2019 — 2:28 PM
Service will go down,trading platforms will go rinkie Dinky.and charges will go up and the head hancho s Make their big buck money .and the little guy get washed upon the shore with out a care in the world Lewis Bence Investor


November 24, 2019 — 10:08 PM
I don't trust that this would benefit my portfolio. I have a lot to protect and had been provided a solid game plan, but if the approximate 1 percent fee is going up, I will search for a better way.
Samuel Dedio

Samuel Dedio

November 25, 2019 — 5:11 PM
If you are a small advisor (less than $20mm in AUM) on TD's platform, join this group I created to navigate experiences and options we have as the deal progresses in 2020.

Related Moves

May 10, 2024 at 1:29 AM

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation

Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.

November 3, 2023 at 3:49 AM

Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond

The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30

August 22, 2023 at 12:46 AM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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