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Schwab's merger with TD Ameritrade was sterling until the Covid-19 pandemic and financial collapse took some of the shine off the deal

Charles Schwab & Co.'s decision to buy TD Ameritrade Holding Corp. in Nov. 2019 looked like a lock, but 'Schwabitrade' has been rocked by wholesale branch closings, plummeting share prices and emergency rate cuts to near zero.

Tuesday, April 14, 2020 – 11:13 PM by Oisin Breen
Admin:
no description available
Ari Sonneberg: I do not think that the current turmoil in the market will be something that helps this deal.

Related Moves

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 – 10:33 PM

Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder

The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.

December 27, 2021 – 9:58 PM

Goldman Sachs nabs TD Ameritrade's Darla Sipolt for RIA custody; Kate Healy, Jim Dario and Peter Dorsey are among 1,000 staffers cut by Schwab post TD merger

Included in the wholesale reduction of the Omaha, Neb.-based broker's redundant talent, about 40% of TD Ameritrade's marketing staff also got word today they have no future with their San Francisco-based owner

October 27, 2020 – 1:20 AM

Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology

The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.

March 11, 2020 – 7:58 AM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh




J. Bruce Thorne

J. Bruce Thorne

June 3, 2020 — 12:29 AM
TD has all the answers but they are so short on service. If left to their own efforts they will surely fail. Had they not acquired Scott Trade they would be well on their way by now. I am a small investor but I know people and this company is bad-news. Schwab got here by staying with the basics don't get loss by simply having a bigger balance sheet made up of corporate-fluff.
Monty Saylor

Monty Saylor

July 10, 2020 — 1:37 PM
I’m a Td client and since this COVID 19 out break their local office has been closed numerous times “because of keeping clients safe “ the first time I had a uncashed check sitting about 2 weeks before it posted to my account.I sucked it up then it happened again I said no more moved account over to Charles S which has someone in office all the time covid or not.Td mobile checking is fine but it’s not fail proof.The one thing that is is good ole check cashing but if they can’t keep office open well.......

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