Td Ameritrade Buys Scottrade (QUICK)

: 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.

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)

: Customers kept their assets but gained access to TD Ameritrade’s tools, such as the thinkorswim platform, though some missed Scottrade’s specific mutual fund policies. Where are those accounts now?

: 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.

Retail broker TD Ameritrade buys Scottrade in $4 billion deal