In October 2016, TD Ameritrade announced a massive deal to acquire its rival, Scottrade Financial Services. This "helpful story" explains what happened during that merger and where those accounts are today. The Acquisition (2016–2017)
If you were once a Scottrade customer, your account has since moved again.
: For several months after the close, Scottrade operated as a separate entity to ensure a "seamless transition" for its clients. td ameritrade buys scottrade
: The acquisition officially closed on September 18, 2017 . The Client Transition (2018)
: The deal was split into two parts: TD Bank Group bought Scottrade Bank for $1.4 billion , while TD Ameritrade acquired the brokerage operations for $2.7 billion in cash and stock. In October 2016, TD Ameritrade announced a massive
Retail broker TD Ameritrade buys Scottrade in $4 billion deal
: On October 24, 2016, TD Ameritrade revealed it would buy Scottrade to gain scale in an industry pressured by the rise of low-cost index funds and robo-advisors. : For several months after the close, Scottrade
: In February 2018 , Scottrade accounts were automatically migrated to the TD Ameritrade platform.