Bi-Monthly ERPE Excerpts
Nov 3, 2022
The Best of Both…
IMPACT 2022
This week I am in Denver attending IMPACT 2022, a conference hosted by Charles Schwab to showcase to independent investment advisors what the future of the firm will look like. Along with about 5,000 other advisors from all over the country, I am here to learn how the new custodian and investment services company will help me help my clients. Executives and industry leaders from Schwab and TD Ameritrade are sharing with us how they will deliver the “best of both” companies once combined. This year’s IMPACT theme is “Forward Together”. That is precisely what the two custodians, nearly 15,000 investment advisors and almost 25 million clients are doing. After two years of virtual meetings due to the pandemic, IMPACT 2022 is Schwab’s 31st industry conference.
On November 25, 2019, Charles Schwab announced it would acquire TD Ameritrade in a $26 billion all-stock deal. The merging of the two biggest publicly traded discount brokers at the time of the announcement represented the creation of a behemoth with more than $5 trillion in client assets. The combined company will to serve more than 24 million clients. When news of the deal was released, Schwab said that the new firm will have “the resources of a large financial services institution that will be uniquely positioned to serve the investment, trading and wealth management needs of investors across every phase of their financial journeys.” TDA Ameritrade said, “TD Ameritrade and Schwab are now part of one company with a shared mission: to help people realize their financial dreams through investing.”
IMPACT 2022 ends tonight. So far I expect to head home thinking the culture of the new combined company will have the virtues of a diligent and trustworthy business partner. Now nearly 3 years since the announced merger, the two companies, advisors and clients will hopefully share a successful future moving forward together.
Due to time away at the conference, this issue of Bi-Monthly ERPE Excerpts will not include market and economic updates.
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