Charles Schwab had an easy decision to keep afloat TD Ameritrade's thinkorswim platform, but Veo and Veo One are more likely to be scuttled post-merger
TD bought Thinkorswim for $600 million a decade ago; it remains an industry leader and RIA favorite for hedging portfolios -- and it will mesh with Schwab's platforms
|8 hours ago|
Skip Schweiss exit from TD Ameritrade means the RIA custody business lost its most visible corporate-paid advocate -- for the moment
TD's now ex-managing director of advisor advocacy is set to become the FPA president, but most peers agree the 58-year-old is poised to 'write his ticket' with another custodian or national RIA
|August 5, 2020 — 9:33 PM|
Walt Bettinger expects 'hundreds' of Charles Schwab Corp. staff tasked with wiring TD Ameritrade merger to soon soar to 'thousands' of Schwab and TD workers
The Charles Schwab Corp. CEO reassured Wall Street analysts looking for a sign Schwab believes what it promises about an imminent closing that it has yet to schedule.
|August 4, 2020 — 6:12 AM|
Envestnet nabs Dani Fava to cross-pollinate semi-autonomous units and reap 'financial wellness' as the end product
The Chicago outsourcer has a massive, partially disconnected arsenal of products that CEO Bill Crager is rationalizing into 'wellness' with yet another new unit.
|July 23, 2020 — 1:42 AM|
Odds spike to 100% Schwab and TD Ameritrade close merger, cinch added $9 billion in synergies, Morningstar analyst says, after DOJ dismisses anti-trust concerns and Schwab shareholders vote 'yes' hours later
Deemed a non-monopolistic duo, TD Ameritrade and Schwab shares soar, closing timetable moves up and Schwab dilutes its own stock with float of 300 million shares
|June 5, 2020 — 2:17 AM|
When Interactive Brokers sweetened its RIA custody offering in 2019, it worked -- so now it's investing in more sugar
The Greenwich, Conn. custodian now has 25,000 funds on its supermarket, new simplified trading software and a heightened sense of urgency as Wall Street scoops up competitors
|June 3, 2020 — 4:43 PM|
The odds are now 75% that Charles Schwab Corp. swallows TD Ameritrade Holding, says Morningstar, a probability Wall Street math and internal memos seem to support
With Thursday set for TD and Schwab virtual shareholder votes, August is circled on the calendar for a 'Schwabitrade' close, memos suggest, with the TD brand sticking around for ... quite a while
|June 2, 2020 — 2:15 AM|
Amid 800-person hiring spree, TD Ameritrade interim CEO Steve-Boyle delivers sparkling results, underscores quick 100% work-at-home transition-- and calls Schwab merger efforts 'critical' and on-schedule
The Omaha, Neb. discount broker is luring net new assets as if the TD brand will be around forever, and no staff member will ever become redundant, even if its CEO's tenure will presumably self-expire
|May 1, 2020 — 8:39 PM|
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.
|April 14, 2020 — 11:13 PM|
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|
E*Trade, TD Ameritrade and Legg Mason deals look dicier, after share crashes crush market caps of merging firms
Schwab and Morgan Stanley are using their stock as currency; Franklin Resources is buying Legg Mason, mostly with hard cash
|March 9, 2020 — 11:22 PM|
After a decade of 'hybrid' RIA mish-mash, LPL Financial has a double-barreled '100%' RIA plan that is presumed to include 'Schwabitrade' style asset custody and a 'Dynasty' style premium back office offer
The nation's largest independent broker-dealer is finally going on RIA offense, which may prove to be a good defense upmarket and downmarket.
|February 13, 2020 — 4:33 AM|
Schwab execs all but dash RIA hopes for TD Ameritrade VEO One survival by pitting the open-API platform against expediency and an admitted pro-Schwab bias
Schwab COO Joseph Martinetto scoffs at 'platform-by-platform' cherry-picking of Schwab and TD systems: 'That will just take too long.'
|February 7, 2020 — 6:47 AM|
TD Ameritrade hedges its bets that Schwab can swallow it whole as DOJ letter lands, LINC 2021 gets planned and TD pledges it'll go 'full tilt'
The Omaha, Neb.-based firm is ready to combine with Charles Schwab & Co. if need be but ready, too, to remain its nemesis until anti-trust hurdles dissipate and the ink dries.
|January 31, 2020 — 2:10 AM|
Franklin Tsung’s company, BlackCrown, filed suit in New York against Schwab and TD, but his decision to do so without a lawyer made it a clear 'stunt,' sources say.
|January 3, 2020 — 5:26 PM|