TD Ameritrade Buying Scottrade
What It Means For You.
You may have heard in the news the recent acquisition of Scottrade by TD Ameritrade. We wanted to share our perspective on the deal and let you know we are available should you have any questions. Because they are early in the acquisition process, there are still many details that will be worked out over the coming months. We’ll keep you informed as new information is made available. For now, this announcement does not impact you. Until the transaction closes, Scottrade will be operating as a separate and independent company. It is expected to take about 9-12 months to close the deal.
Personally, we have worked with both companies in the past and think highly of both institutions. Some of the reasons why we originally chose Scottrade as our custodian was for their superior customer service team and convenient branch office locations. Apparently, TD saw this too as an asset, as these were some of the reasons cited for the purchase. We are confident that this will have little to no material impact on our business and your accounts. If we see any cause for concern you can be sure we will let you know.
If you have any other questions, please don’t hesitate to call or email.
For more information you can read the letter from Roger Riney, CEO of Scottrade.
Your Phillip James Financial Team