Broker Check

TD Ameritrade acquired by Charles Schwab

| October 15, 2020
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On October 6th, Charles Schwab finalized the acquisition of TD Ameritrade. Both companies have started to send out communications, so we wanted to provide you with a quick update ourselves. The acquisition combines the assets, tools, resources, and support of two of the largest RIA custodians. Together, they will hold about $6 trillion in assets and service 28 million accounts. We believe the merger will result in more efficiencies, better technology, and lower costs.

What does this mean for you?

Although the deal closed earlier this month, the integration of the two companies is expected to take 18 to 36 months. Until then, it’s business as usual as each company will continue to operate independently. So, you will continue to receive statements and tax documents from TD Ameritrade, and view your accounts at advisorclient.com. Once the technologies have been integrated, your accounts will be rebranded as Charles Schwab. Fortunately, we will not have to complete any paperwork through this process. The integration will be seamless from your perspective.

What does this mean for Swisher Financial Concepts?

Similarly, it’s business as usual for us. This news does not affect what we do or how we serve you. Schwab has confirmed that the technologies and services we currently utilize from TD Ameritrade will still be available to us after the integration is complete. We even expect to gain access to additional resources. We will keep you updated as we know more. For now, we are staying informed and vetting the merger as it progresses. We are available to discuss changes as they come. Please don’t hesitate to reach out.

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