One combined company dedicated to serving investors across every phase of their financial journeys
The combination of Schwab and TD Ameritrade is about the future, our clients' future. Our scale, complementary strengths, and shared passion for investors and the advisors who serve them is creating a unique firm in the industry. We’re building a company with a commitment to creating access for everyone, a strong heritage of innovation and the resources to support clients at every stage of their journeys.
For now, it's business as usual
We are honored to bring our firms together. We expect the combination to conclude in 2024. Until then, we will continue to operate separate broker-dealers, and clients of Schwab and TD Ameritrade will continue to do business with their respective firms as usual. Throughout, we will continue to deliver the superior service you have come to expect.
Chuck offers his views on the combined firm
Chuck offers his views on the combined firm
Schwab & TD Ameritrade see the world through the same eyes - our clients'
Our vision is to be the most trusted leader in investment services. We will do that by continuing to break down barriers for investors and those who serve them through a combination of low cost, great service and leading technology. We will further challenge the status quo, using our scale, resources and expertise to transform lives – and investing.
Chuck: Chuck, do you want to be the biggest and most profitable? What do you want to be?
Chuck: When I started, we were doing 50 trades a day. 50, all by hand with a pen and a pad. I knew instinctively that individual investors needed a better deal, that they were getting a raw deal from Wall Street. I certainly knew in my mind that we had a great business opportunity ahead of us. I'm sure Joe Ricketts felt the same way. We would study our competitors very, very carefully. Kept us fresh, kept us ambitious.
Young Chuck: Fast service, big discounts, 24 hours a day, seven days a week. I'm Charles Schwab and that's the way I see it from the investor's point of view.
Chuck: There are many times Ameritrade would come up with some interesting idea. I mean, my goodness, thinkorswim, I wish we had done that. It was always that “Can we leapfrog them?” and they would, I'm sure, say the same thing: "Can we leapfrog Schwab?" One of the earliest to online capabilities...
Man in Ad: Buy, sell, do your research. I'll just call up a portfolio and the order has been placed in our host computer system.
Man in Ad 2: Let's go to Ameritrade.com. Research it. All this stuff is provided for you, free of charge.
Man in Ad 3: No cost.
Man in Ad 2: Yeah. That's synonymous with free.
Chuck: It was all about trying to help individual investors, better service, lower prices, faster transactions. Both companies had our freedom to take care of individual investors. In the early days, Merrill Lynch might've been $110 for a trade. And we've brought it down, all the way down. Finally, about a year ago, we were down to $5 and finally, I decided, "Let's go to zero." That's where it should be. Let's go to zero.
Chuck: It would not have happened except for firms like Ameritrade and ourselves who pushed that envelope. I guess the beauty of being somewhat mature is to see. The most successful people I know are people who are doing something for somebody else. "Owning your tomorrow," is the way we express it or, "Transforming lives." It's the same subject matter. It's really about helping people and that has not changed. You're helping somebody and those are the most fulfilling of all jobs for my money.
Chuck: This combination is historic. There would be no other company like the combination of the two companies coming together, individual investors and their independent advisors, total focus. There are other companies that might say, "We're like that also," but they're not.
It's the people at Ameritrade and the people at Schwab, we'll be independent. We won't be part of another company that has a different mission in life.
Chuck: Chuck, you want to be the biggest, the most profitable? What do you want to be? The merger today is not about being the biggest. To me, it's about being the strongest, an unbelievable fortress of a company with the highest level of integrity. That's what you want to deal with. That's what we want to offer. That's who we are.
Our Progress to Date
We are approaching the integration of Schwab and TD Ameritrade with great thoughtfulness and care, with an eye toward delivering exceptional services to investors and advisors. We have already taken a number of meaningful steps to realize our goals, including:
The TD Ameritrade Satisfaction Guarantee
If for any reason TD Ameritrade clients are not completely satisfied with their experience, TD Ameritrade will refund any eligible fee or commission. Visit TD Ameritrade’s Satisfaction page to learn what’s included and how it works.
TD Ameritrade clients have access to new products and capabilities, including more no-transaction-fee mutual funds* and Schwab Purchased Money Funds.
Schwab intends to integrate TD Ameritrade’s award-winning thinkorswim® and thinkpipes® trading platforms, education and tools into its trader offerings.
We have begun aligning Schwab and TD Ameritrade’s branch network, while ensuring that 90% of clients have at least one of our 400 branches within 25 miles.
Schwab Advisor Services Business Consulting and Education
As we continue to work toward the integration of TD Ameritrade and Schwab, some services are available now to TD Ameritrade Institutional advisor clients. These programs are centered around five key areas known as the Guiding Principles, which can have the biggest potential impact on advisors’ businesses.
March 17, 2022Schwab Reaffirms Commitment to Omaha as Key Operations Center
December 20, 2021Home of College World Series to Be Named ‘Charles Schwab Field Omaha’
October 6, 2020Schwab Completes Acquisition of TD Ameritrade
September 30, 2020Schwab Provides Update on Regulatory Actions Related to Its Acquisition of TD Ameritrade
August 5, 2020Charles Schwab Announces Plan to Adopt thinkorswim Trading Platforms as Part of TD Ameritrade Integration
June 4, 2020Schwab Stockholders Approve Acquisition of TD Ameritrade
TD Ameritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. . ©2022 Charles Schwab & Co. Inc. All rights reserved.
*TD Ameritrade receives remuneration from fund companies participating in its no-load, no-transaction-fee program for record-keeping and shareholder services, and other administrative services. The amount of TD Ameritrade's remuneration for these services is based, in part, on the amount of investments in such funds by TD Ameritrade clients. No-transaction-fee funds have other fees and expenses that apply to a continued investment in the fund and are described in the prospectus.
Investors should carefully consider information contained in the prospectus, or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a mutual fund prospectus by calling Schwab at 1-800-435-4000. Please read the prospectus carefully before investing.
An investment in a money market mutual fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds, and Schwab, Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.