Scottrade and TD Ameritrade Coming Together as One

Scottrade has reached an agreement to be acquired by TD Ameritrade. This includes Scottrade® Advisor Services. Separately, Scottrade has reached a similar agreement with TD Bank Group. The agreement will increase TD Ameritrade’s client base by more than 3 million accounts and greatly expand their branch network across the country, leveraging Scottrade’s strength in client service.

Currently, we have client assets custodied at both Scottrade and TD Ameritrade. Historically, TD has had better technology and systems, however, Scottrade has had better customer service. They are early in the process, and there are still many details that need to be worked out. We will keep clients informed as new information becomes available. Because Scottrade is the one being acquired, and there will likely be job cuts, we will monitor the customer service as it develops.  If it should falter we would be willing to move custodians.

For now, this announcement does not impact clients. Until the transactions close, Scottrade, Scottrade Bank, TD Ameritrade and TD Bank Group will be operating as separate and independent companies.

We will be having conversations with both groups as it progresses. If you have any questions in the meantime, not hesitate to contact us.