Published on November 25th, 2019 | by Chuck31
Schwab Will Buy TD Ameritrade Brokerage
The news broke today that Charles Schwab brokerage will buy TD Ameritrade brokerage in a $26B all-stock deal. The deal is expected to close in the second half of 2020, pending regulatory approval.
Once the merger completes, your assets with TD should make you eligible for the $100 – $200 statement credit which Schwab American Express Platinum cardmembers get when they have $250k – $1M in assets.
Regardless, it’ll be interesting to see if/what changes this causes in the industry with the consolidation of the two largest publicly-traded discount brokerages. It’s especially interesting that this comes on the heels on numerous brokerages dropping their fees on trades.