cancel
Showing results for 
Search instead for 
Did you mean: 
     
Highlighted
Explorer ○○

Re: Schwab in Talks to Buy TD Ameritrade


@yogibearbull wrote:


It seems that TD Bank will also hang on to its contract with TD Ameritrade for brokerage cash sweeps into TD Bank until 2021, so Schwab would have to wait a while to get its hands on sweeping that money into Schwab Bank.


Yeah that seems to make sense - the acquisition won't even complete until 2nd half of 2020 from what I read.  Then it can take quite some time to integrate with both personnel and technology - that could take say 18 months.  

This isn't going to be just a website cosmetic change - there's some big changes that needs to go on depending on what they decide on the transfer or merger of the platforms.  I've read another article pointing out that they eventually have to merge/migrate the platform somehow to one - industry analysts don't see Schwab supporting 2 different platforms.  This is going to be huge decision on what they decide to do.

Again - Advanced investors seem to love the TDA (Thinkorswim) platform and I'm hearing the RIAs really like the TDA custodian services, technology and platform.  The smaller RIAs are especially worried because TDA catered them whereas Schwab focused more on the medium-larger RIA shops.  

Fidelity gets to sit back, relax and watch things play out?

For in-house branded Mutual Funds & ETFs assets --- Schwab is quite a bit smaller than Vanguard, Fidelity and Blackrock.  The acquisition will help Schwab to market their own MFs and ETFs to the Ameritrade folks.  As one of the articles alluded to - I can see in the ETF space where the larger get larger.  There are way too many thinly traded ETFs.  In my case - I tend to gravitate towards the bigger name ETFs which good asset base/trading/liquidity. 

Interesting times!  As mentioned before - I know of some places where the Schwab and TDA offices are practically right across from each other!  Schwab has 345 offices and TDA has close to 300 (I think 275?) --- so I can definitely see Schwab keeping some of the TDA offices where it makes sense and closing others.  I live in a large suburb where Schwab and TDA offices are located in opposite sides of town - I could see a case for keeping both.  In any case - after the dust settles from the acquisition, we could see an expansion of Schwab offices from 345 to say 500 which would be helpful to some retail investors. 

Mind you Schwab Bank is also a sizable bank --- in terms of asset size, they are the 13th largest bank in the US.  Definitely can see that growing bigger down the road in 2021 and beyond post acquisition integration.  

 

Highlighted
Explorer ○○

Re: Schwab in Talks to Buy TD Ameritrade


New combined company name will be Schwabatrade --- ok just kidding.  
=

Competitors Fire Back at Schwab-TD Ameritrade Acquisition

https://www.wealthmanagement.com/industry/competitors-fire-back-schwab-td-ameritrade-acquisition

Competitors wasted no time joining the fray, leveling a range of criticisms at Schwab's move to acquire TD Ameritrade.

The race is on. Fidelity wasted no time responding to Charles Schwab’s announced acquisition of TD Ameritrade, warning of “a long and complex integration” and “practices that disadvantage investors.”  It’s the first volley in what analysts are predicting will be a “winner-take-all struggle between Fidelity and Schwab.”

{...}

"Advisors are busy enough taking care of their clients and running their businesses. Any hiccups or possible complications will be hard for them to stomach," said Robb Baldwin, founder and CEO of Trade PMR, which custodies assets for some 700 individual advisors. "When I was an RIA, I experienced first-hand what a fiasco it can be when two custodians merge. So advisors are rightfully concerned about what a merged TD/Schwab scenario will look like for them."

 

0 Kudos
Highlighted
Explorer ○○

Re: Schwab in Talks to Buy TD Ameritrade

Don't know the full timeline but
hoping maybe we can purchase more OEF/NTF  and  "I" Institutional class Mutual Funds soon afterward...

Schwab-TD Ameritrade Deal Gets Shareholders’ Approval
Charles Schwab Wins DOJ Approval For $26 Billion TD Ameritrade Deal

The DOJ closed its investigation and approved the merger between Charles Schwab and TD Ameritrade which further consolidates the brokerage world.

The $26 billion deal between the two largest publicly traded discount brokers will create a brokerage mammoth with more than $5 trillion in client assets ($3.8 trillion from Schwab and $1.3 trillion from TD Ameritrade).

https://www.forbes.com/sites/sergeiklebnikov/2020/06/04/charles-schwab-wins-doj-approval-for-26-bill...

Thanks.
Majick

 

0 Kudos
Highlighted
Frequent Contributor

Re: Schwab in Talks to Buy TD Ameritrade

Not a big fan of Schwab. Last month I did a total acct TOA from Schwab to TDA (weird, I know, but my TDA advisor was delighted and gave me some freebies). When my TDA account migrates back over to Schwab, I will TOA the whole kit-and-kaboodle over to my Fido account before 12/31/2020 (so my 2020 1099 will be my last). Hopefully, I will be able to squeeze a nice promo out of Fidelity.

0 Kudos
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade

I'm watching and waiting and will watch some more before deciding whether to migrate. I've been with TD since it was TD Waterhouse (mid 1990s), went through the Ameritrade and subsequent mergers and stayed put.

This time? Not sure.

Now that I'm officially retired (as of one week ago) and have the time, I may look more closely at the possibility of moving to Fidelity. My wife's IRA is there and they have a physical presence in San Antonio...those factors, plus my desire to consolidate investments as much as possible (I'm down to Fido/TRowe/Vanguard and TD Ameritrade from about a dozen different firms just a few years back) sort of argue in favor of the Fidelity move. Trying to simplify for the sake of my wife in case I drop out of the picture first. She's brilliant but simply does not grok investing, so the fewer places to deal with the better, I'm thinking.

We'll see.

Dirk

0 Kudos
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade

I'm considering moving to Fidelity or Vanguard. I'm at TDA because I was at Scottrade, when TDA bought it. I almost moved to Fidelity but decided to stay at TDA. It was fine. But here I am about to have to go through another mammoth move.  

0 Kudos
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade


@trckld wrote:

@Hope812 wrote:

After TD Ameritrade acquired Scottrade , I was no longer paying $17 fees for transaction fee funds.  I was also charged the higher fee when I sold the fund, regardless of how long I had held it.


That doesn't seem right. I continue to pay $17 for TF funds buy/sell after becoming TDA customer from Scottrade. You should ask them. They honor us this so as not to lose the ex Scottrade customers.


When my Scottrade account moved to TDA, I cont'd to pay the $17 OEF fee instead of the TDA higher fee (I think it was $45). I asked for the lower fee, though. I was considering moving to Fidelity instead of to TDA, but when my fees & such were going to remain the same, I decided to give TDA a try. I liked TDA fine, although hated ThinkorSwim. 

0 Kudos
Highlighted
Frequent Contributor

Re: Schwab in Talks to Buy TD Ameritrade

I have both Fido and Schwab brokerages and I like them both. In fact I feel that they complement in some ways. 

YBB
0 Kudos
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade

Maybe you can answer this about Schwab. I went to its site and looked for
an NTF list of funds. All I found offhand was a statement that Schwab's own
funds are NTF. I didn't find a list (I didn't spend much time, so it's
possible it's hidden in the site somewhere.) I found the list on Vanguard's
site, by comparison.

What do you think of Fido's trading platform/program?
0 Kudos
Highlighted
Frequent Contributor

Re: Schwab in Talks to Buy TD Ameritrade

Use Schwab screener. No-load/NTF funds are called OneSource at Schwab and are identified.   https://www.schwab.com/public/schwab/investing/investment_help/investment_research/mutual_fund_resea...

YBB
0 Kudos
Highlighted
Participant ○

Re: Schwab in Talks to Buy TD Ameritrade

Years ago I left Schwab because over time they had evolved into only one flavor of "Kool Aid"; theirs. Went to TDA because I could have anyone's MF, several NTF products with out a circus performance on trying to bring it into my portfolio, even with a fee. I will be watching this like a hawk because I will not go through all that again. Fidelity probably will not be an answer either because I suspect they have their propriety "Kool Aid" flavor as well. So, I guess it is time to look at E-Trade, or other options. Is this the beginnings of an oligopoly in this industry?

 

Highlighted
Frequent Contributor

Re: Schwab in Talks to Buy TD Ameritrade

Years ago was years ago. From first hand experience at Fido and Schwab, I can say that both have hundreds [thousands?] of no-load/NTF funds on their platforms. They do have their own in-house funds too, Fido [its origin was as a mutual fund company] more than Schwab [basic types include market-cap and fundamental factors based funds]. 

YBB
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade


@yogibearbull wrote:

Use Schwab screener. No-load/NTF funds are called OneSource at Schwab and are identified.   https://www.schwab.com/public/schwab/investing/investment_help/investment_research/mutual_fund_resea...


Thanks so much! 

Highlighted
Follower ○○○

Re: Schwab in Talks to Buy TD Ameritrade

@yogibearbull 

From the link and other searches on schwab i dont see clearly whether automatic investment of TF funds are free or not. At TDA i have monthly automatic investments in TF funds for no fee (initial purchase is I believe 15 based on my original TOS account). Do you know if automatic investments is free at schwab?

The following link talks about no fee for NTF funds, which is odd that they should need to even say that given they are by definition free to invest. It specifically talks about the 'one source' and other NTF funds as free.

Automatic investments 

thanks

0 Kudos
Highlighted
Participant ○

Re: Schwab in Talks to Buy TD Ameritrade

YBB

I just got off the phone with Schwab customer service (866-855-9102) and asked a representative some questions about "one source". I could not bring up on the link you provided as "I am not a Schwab customer". There were three people who answered my questions. Bottom line, there are transaction fees on Vanguard, Primecap, D+C, and Fidelity products. None on Oakmark, TRP and Brown Cap. Mgt.  I have others, but there seems to be fees on some houses and not others. It may be that Schwab is a competitor with them, ie. the fees. I suspected this may be the case, so I made the phone call. I would think Schwab would allow my TDA transfers no fee, but down the road? I also have Artisan, but did not ask about them as I got the information I was looking for. All I am saying is that I suggest TDA clients keep their eyes open. It was good to hear from you. 

Highlighted
Contributor ○○

Re: Schwab in Talks to Buy TD Ameritrade

I like TDA.  I can buy a lot of institutional class mutual funds for very low minimums (I bought as low as $10K) and $17.99 transaction fees.  I like their trading platform as well (e.g., I can place GTC + extended market limit orders).  TDA also offers free M* newsletters if you care for them.

I do not have those privileges at Schwab.  Not sure what will happen to my TDA privileges after the merger with Schwab.

Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade

Anitya says: TDA also offers free M* newsletters if you care for them.

No kidding? When did they start that? And how do you get 'em? (I've been with TDA forever, but seldom trade, so I don't exactly know all parts of the website.)

Curious Dirk

0 Kudos
Highlighted
Participant ○○○

Re: Schwab in Talks to Buy TD Ameritrade


@Lorraine10 wrote:

I liked TDA fine, although hated ThinkorSwim. 

Wow, you like TDA but hate ThinkOrSwim? Are you kidding me?  TOS is one of the best streaming platforms, if not the best.  I just love it and been using it forever. I wake up to TOS and it'll be running till I go to sleep. ;)

Some of the TOS features are unbelievable. I tried Fidelity's Active Trader Pro and Schwab's Street Smart Edge and both are not even in the same hemisphere. TOS has gazillion studies/patterns that you will need to get a Ph.D to go through that extensive list.  And, the Options in the Trade tab in TOS is simply the best. I trade options heavily and you can even see all the option trades live just like the Last Trade window.

And, they give free Level II as well as streaming news even if you have an account. I may sound like a TDA salesman but could even pay money for the TOS platform. That good. ;)

image.png

image.png

0 Kudos
Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade

Man oh man. I’ve been hearing about TOS for years but literally never used it. But for an old buy-and-holder like me, that’s probably not a bad thing.

Dirk

Highlighted
Explorer ○

Re: Schwab in Talks to Buy TD Ameritrade


RainGater:   You mentioned having to have a Ph. D to get thru a TOS list. That was one of the issues w/it. It was unnecessarily complicated. It tried to be all things to all people and wasn't user friendly. I have another post in this thread where I state some of the problems I had w/it. Apparently TDA had a number of complaints, since it has corrected some of those issues.  I'm experienced dealing with software programs containing various types of information, but I couldn't find  (quickly & easily) certain settings/info in the program that I needed. TDA said to use their 45 min. tutorial. That told me that the program wasn't user friendly.

A big issue was that their stock tracking chart was small and locked in the main window w/other unnecessary information. The time increments for tracking a stock's price in that chart was too high, also. Because the chart was small, you could see the stock price change only for a short period of time. In Scottrade's platform, you could drag that chart out & enlarge it, line it up with other small windows of info that you'd dragged out.  

 

Look at that TOS chart image you posted. I don't need all that information, at least not all the time and not when I'm tracking something. TDA now has a different version on its website. I don't know if it's more streamlined. 

Scottrade had TWO trading platforms (not counting its website), recognizing the two different levels and purposes. The complicated one, like TOS, was a large sep. program to download. Then there was a streamlined nimble version with awesome capabilities to be customized quickly; that was accessed thru their website. 

I do like many things about TDA. But ThinkOrSwim isn't one of them (or at least not the version I tried to use when I was transferred to TDA).

@RainGater wrote:

@Lorraine10 wrote:

I liked TDA fine, although hated ThinkorSwim. 

Wow, you like TDA but hate ThinkOrSwim? Are you kidding me?  TOS is one of the best streaming platforms, if not the best.  I just love it and been using it forever. I wake up to TOS and it'll be running till I go to sleep. ;)

Some of the TOS features are unbelievable. I tried Fidelity's Active Trader Pro and Schwab's Street Smart Edge and both are not even in the same hemisphere. TOS has gazillion studies/patterns that you will need to get a Ph.D to go through that extensive list.  And, the Options in the Trade tab in TOS is simply the best. I trade options heavily and you can even see all the option trades live just like the Last Trade window.

And, they give free Level II as well as streaming news even if you have an account. I may sound like a TDA salesman but could even pay money for the TOS platform. That good. ;)

image.png

image.png


 

0 Kudos
Announcements