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? td ameritrade buys scottrade
: 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
: The acquisition officially closed on September 18, 2017 . The Client Transition (2018) Where are those accounts now
If you were once a Scottrade customer, your account has since moved again.
: In February 2018 , Scottrade accounts were automatically migrated to the TD Ameritrade platform.
: 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.