Business

Week's Best: Goodbye, TD Ameritrade


ByRoss Snel


Oct. 9, 2020 5:23 pm ET Order Reprints Print Article


Charles Schwab on Tuesday closed its acquisition of rival TD Ameritrade, creating a Goliath of a discount brokerage with about $6 trillion in client assets, and—of crucial importance to financial advisors—expanding Schwab’s dominance in the RIA custody market.


A key question for advisors has been what will happen to TD Ameritrade’s popular Veo One technology platform.


Bernie Clark, who heads Schwab’s custody business, says discussions on fintech integration are still at a relatively early stage but that Schwab is looking at creating a “new edition” of a platform that adopts the best aspects of each company’s systems.


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