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Charles Schwab shutters 79% of TD Ameritrade branches -- though 140 will cohabitate with a next-door Schwab branch -- and refers legacy TDA assets to legacy TD RIA custody clients

The San Francisco retail brokerage will keep 400 branch addresses and no legacy Schwab assets will get referred to a 'TDA' RIA for now.

Author Oisin Breen November 11, 2020 at 12:27 AM
Admin:
no description available
Joe Martinetto: Our combined branch footprint ... will be larger ... and 90% of our clients will have a branch within 25 miles, up from 80%.

Douglas Sawyer

Douglas Sawyer

November 11, 2020 — 5:32 PM
What is eventual impact to those of us who have 401ks and cash and stock investments through TDA?
Brooke

Brooke

November 11, 2020 — 5:57 PM
Presumably not too much...But as journalists that is what we are watching for.
SAM W TROLINDER

SAM W TROLINDER

November 11, 2020 — 11:47 PM
SERVICE HAS PLUMMETED SINCE THE MERGER. 30-45 MINUTES WAITING TO SPEAK TO CUSTOMER SERVICE IS HE NORM. SCREEN FREEZEUPS AND SDISSAPPERAING BALANCES DURING THE TRADING DAY ARE THE NORM. BASICALLY THE MERGER IS ONE STEP ABOVE TRASHY ROBINHOOD....IM GOING BACK TO ETRADE & FIDELITY
Dan w

Dan w

November 12, 2020 — 12:56 AM
Every time the markets make a large move your phone app locks out customers; fix it and invest some $$$ cheap jerks
Nanz

Nanz

November 12, 2020 — 4:05 PM
After hour trading is a plus, where the bike trail ends, NC

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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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