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Articles tagged "E*Trade"


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Ari Sonneberg: I do not think that the current turmoil in the market will be something that helps this deal.

Schwab's merger with TD Ameritrade was sterling until the Covid-19 pandemic and financial collapse took some of the shine off the deal

Charles Schwab & Co.'s decision to buy TD Ameritrade Holding Corp. in Nov. 2019 looked like a lock, but 'Schwabitrade' has been rocked by wholesale branch closings, plummeting share prices and emergency rate cuts to near zero.

April 14, 2020 at 11:13 PM

Liz Ann Sonders: The path of least resistance is still down.

E*Trade, TD Ameritrade and Legg Mason deals look dicier, after share crashes crush market caps of merging firms

Schwab and Morgan Stanley are using their stock as currency; Franklin Resources is buying Legg Mason, mostly with hard cash

March 9, 2020 at 11:22 PM

Fidelity's Abby Johnson  took eight days to succumb Chuck Schwab's commission  torpedo but those days may have been put to good use.

One big casualty of Fidelity Investments' buckle on zero-fee commissions may be the zero-fee RIA custody tailwind of three decades duration

With Pershing last to collect trade revenues, Schwab, TD Ameritrade and Fido have leverage and ' I think Fidelity will be the first to try,' Kitces says.

October 15, 2019 at 8:42 PM

Charles 'Chuck' Schwab: Eliminating commissions ensures my ultimate vision is realized.

After Vanguard instigated commission war in June, Charles 'Chuck' Schwab steps up to challenge in brilliant counterstroke that paints bull's eye on custody rivals in zero-sum showdown

The Schwab Chairman and Founder signs off on the $400-million write-off of revenues in a move the size of his legacy. After being booted in 2017 by TD Ameritrade for not playing the pay-for-play game, Vanguard went hard zero in June forcing Schwab to act but perhaps not this big

October 10, 2019 at 4:49 PM

David Canter (off hours, on stage with his rock band): That’s something that we all need to think about, and it's getting lost in the headlines.

All eyes turn to Fidelity to see if it cracks in all out price war over trading commissions, but for now Abby Johnson is stubbornly refusing to buckle -- bolstered by RIA reassurances

A Morgan Stanley analyst assures Wall Street Boston giant must match Charles Schwab & Co's free trades; Instead, says Fido's David Canter, the company is listening to RIAs, who fear poor service more than ticket charges

October 4, 2019 at 1:44 AM

Walt Bettinger has a reputation for being a safe pair of hands, but by ignoring crypto-currencies, he's risking getting left behind.

Schwab dismisses crypto currencies as 'speculative' and too insignificant for its RIA platform as rivals stake out turf for the coming boom... or is that bust?

CEO Walt Bettinger spurns growing crypto-custody trend, but observers say the custody giant is sleep walking through innovation while other firms plow ahead.

September 7, 2019 at 4:01 AM

Abby Johnson has opened up yet another front in her wide-reaching price war against custody and fund competitors: cash.

Abby Johnson set financial services on fire with a 1.91% 'cash' offer, drawing 'first blood' in an 'accelerating war of rates,' analyst says

The Fidelity CEO threatens to melt down rival profit centers but analysts and RIAs say credit quality and RIA sweep policies make the threat somewhat of an 'illusion'

August 20, 2019 at 1:41 AM

Matt Wilson: They’ve got experience in these types of programs.

As E*Trade begins the process of handing out its fattest accounts to RIAs, giant firms may ace out smaller competitors by shear dint of size

The New York online broker's accounts sprawl nationally so Mercer and Edelman/Financial Engines's turnkey national footprints yield a haul

January 22, 2019 at 10:26 PM

Joshua Pace: Until you have a big brand, it's hard to grab their attention.

E*Trade gets Ric Edelman as an RIA custody client in 'expansive custody relationship,' but don't ask what that means

The New York-based online broker will fuel Financial Engines with referrals and house the assets with Trust Company of America unit

November 12, 2018 at 10:10 PM

Karl Roessner: A lot of the assets that leave us through that channel do indeed go either to bulge bracket firms or to RIA channel, and it is something that we think we can use to harvest additional share of wallet.

Why exactly E*Trade is paying $275 million cash for Trust Company of America

CEO Karl Roessner cites his firm's high demand for an RIA foothold in a low-supply market to counter RIAs and wirehouses preying on E*Trade's HNW investors

October 20, 2017 at 9:12 PM

Josh Pace nearly doubled Trust Company of America in size before selling it for a giant price.

E*Trade enters RIA custody business by purchasing number five player

The New York-based discount broker buys Trust Company of America with plans to rebrand it and invest heavily in its technology

October 19, 2017 at 11:49 PM

Rumors of the Boston-based IBD's acquisition by E*Trade could send LPL stock on a wild ride.

This time LPL share jump is traced to E*Trade

Critically late to the advice game and at loose ends after TD-Scottrade union, the New York-based discount broker has a lean and hungry look, according to Dealreporter

November 2, 2016 at 4:29 PM

Kirt Walker: This little DOL thing came along and it wasn't the primary reason for doing this, but it was about the RIA and fee-based world.

Nationwide buys Jefferson National under purported DOL duress but 'good private equity' and good planning may rule the day

The big Columbus, Ohio national insurer can certainly use a fiduciary annuity -- if there is such a thing -- but ROI is impetus number one

September 30, 2016 at 7:25 PM

Kunal Vaed: This is not a me-too solution. We were careful not to start when the others came out.

E*Trade finds now the right time to launch its e-advice robo with an 'active' twist

The New York-based discount broker means to put $1-million minimum-bogey institutional funds in the hands of retail investors

July 8, 2016 at 11:11 PM

Matthew Audette: The firm's entrepreneurial outlook and strong track record of growing market share and attracting new business provides an ideal opportunity.

LPL poaches E*TRADE's CFO and turnaround specialist as its chief financial officer

Matthew Audette, 41, is moving from New York to San Diego and will begin his new job in late September

June 1, 2015 at 10:33 PM

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