Missouri-based Scottrade offers a smaller selection of investment products: stocks, bonds, mutual funds, exchange-traded funds and options. What the deal means for customersĬustomers of either brokerage wouldn’t see any account changes until the deal closed, which could take a year. “We’ve found in Scottrade a partner with an equally strong passion and a proven track record for delivering exceptional client experiences,” he said in a statement announcing the deal.
This deal aims to retain and combine the best of each.īoth companies have contributed to the growth of low-cost online trading, bringing small-dollar investors the ability to trade stocks for commissions of less than $10. TD Ameritrade president and CEO Tim Hockey said his firm remains committed to removing the barriers between individual investors and Wall Street. The move would bring clients of both companies under one roof, merging two well-respected brands in the online broker business: TD Ameritrade is widely known for its advanced trading platforms such as thinkorswim - also the result of an acquisition - and Scottrade has earned a reputation for its in-person customer service.
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