One combined company dedicated to serving investors across every phase of their financial journeys

We're making history

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 will create 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. Together, we will work with integrity to keep clients’ interests at the heart of everything we do and maintain our singular focus on creating better outcomes for investors and advisors.

Business As Usual

For now, it's business as usual

We are honored to bring our firms together. We expect the combination to take 30-36 months from the close of our transaction. 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. For more information, visit our Client Information Hub.

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, larger resources and combined expertise to transform lives – and investing.

Opens in popup+ Transcript

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.

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The New Charles Schwab at a Glance

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Greater scale strengthens Charles Schwab’s ability to serve a broad range of clients at lower costs*

  • $7.98T total client assets

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    5.55M daily average trades

  • 32.8M brokerage accounts

Enhances our “no trade-offs” approach to value for investors and independent Registered Investment Advisors

Enhances our “no trade-offs” approach to value for investors and independent Registered Investment Advisors

  • Award-Winning Trading & Wealth Management Platforms

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    Full Suite of Advisory Solutions

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    Investor Education

  • Retirement Services

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    Banking

  • Asset Management

Our Progress to Date

We are approaching the integration of Schwab and TD Ameritrade with great thoughtfulness and care, with an eye toward delivering the full benefit of our combination to investors and advisors. We have already taken a number of meaningful steps to realize our goals, including:

  • Introduced 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. 

  • New Offerings

    Now that TD Ameritrade and Schwab are part of one company, TD Ameritrade clients have access to new products and capabilities, including more no-transaction-fee mutual funds** and Schwab Purchased Money Funds.

  • thinkorswim

    Schwab intends to integrate TD Ameritrade’s award-winning thinkorswim® and thinkpipes® trading platforms, education and tools into its trader offerings.

  • Branch Network

    We have begun rationalizing Schwab and TD Ameritrade’s branch network, while ensuring that 90% of clients have at least one of our 400 branches within 25 miles – up from 80% before the transaction.

News

  • October 6, 2020

    Schwab Completes Acquisition of TD Ameritrade

  • September 30, 2020

    Schwab Provides Update on Regulatory Actions Related to Its Acquisition of TD Ameritrade

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  • August 5, 2020

    Charles Schwab Announces Plan to Adopt thinkorswim Trading Platforms as Part of TD Ameritrade Integration

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  • June 4, 2020

    Schwab Stockholders Approve Acquisition of TD Ameritrade

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TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc., members FINRA/SIPC, are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. 

*Total client assets based on combined data for Schwab and TD Ameritrade as of August 31, 2020, using company reports; all other combined data as of June 30, 2020, calculated using Schwab’s methodology.

**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.