Charles Schwab To Buy TD Ameritrade, Creating Brokerage Behemoth
Changes are rippling through the financial services market as trade fees drop to zero. The merger will likely attract antitrust scrutiny, as the combined firms will hold $5 trillion in client assets.
Two of the country's largest brokerage firms will become one, with Charles Schwab Corp.'s announcement that it is acquiring rival TD Ameritrade. Together, the firms will hold more than $5 trillion in client assets and 24 million brokerage accounts.
The deal that it would eliminate commissions on online trades of U.S. stocks and exchange-traded funds, leading other major brokerages to do the same.
