TD Ameritrade

TD Ameritrade is a leading online brokerage firm that provides a range of financial services to individual investors, including trading and investment products, as well as retirement accounts and cash management services, in partnership with The Toronto-Dominion Bank and Charles Schwab Corporation. The company was founded by Joe Ricketts in 1971 and has since become one of the largest online brokerages in the United States, competing with Fidelity Investments, E\*TRADE, and Robinhood. TD Ameritrade has been recognized for its innovative trading platforms and mobile apps, which have been developed in collaboration with Thinkorswim, Scottrade, and Fidelity National Financial. The company has also partnered with Yahoo! Finance, CNBC, and Bloomberg L.P. to provide financial news and market analysis to its clients.

History

The history of TD Ameritrade dates back to 1971, when Joe Ricketts founded the company as First Omaha Securities. The company later merged with Ameritrade in 2006, and was subsequently acquired by The Toronto-Dominion Bank in 2008. During this time, the company has undergone significant transformations, including the acquisition of Thinkorswim in 2009 and Scottrade in 2017, which have enabled it to expand its product offerings and improve its trading platforms. The company has also been led by several notable executives, including Fred Tomczyk, Tim Hockey, and Vladimir Tenev, who have played a crucial role in shaping its strategy and direction, in collaboration with JPMorgan Chase, Goldman Sachs, and Morgan Stanley. TD Ameritrade has also been recognized for its commitment to corporate social responsibility, particularly in the areas of financial literacy and community development, through partnerships with Junior Achievement, Boys and Girls Clubs of America, and the United Way.

Products and services

TD Ameritrade offers a wide range of products and services to individual investors, including brokerage accounts, retirement accounts, and cash management services, in partnership with Vanguard, BlackRock, and State Street Corporation. The company also provides access to a variety of investment products, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs) from iShares, SPDR, and Invesco. Additionally, TD Ameritrade offers trading platforms and mobile apps that enable clients to trade and manage their accounts online, in collaboration with Nasdaq, New York Stock Exchange (NYSE), and Chicago Mercantile Exchange (CME). The company has also partnered with Morningstar, Inc., S\&P Global, and Thomson Reuters to provide investment research and market analysis to its clients, as well as financial planning and wealth management services through its TD Ameritrade Investment Management division.

Technology and platforms

TD Ameritrade has invested heavily in technology and platforms to provide its clients with a seamless and intuitive trading experience, in partnership with Microsoft, Amazon Web Services (AWS), and Google Cloud Platform. The company's trading platforms include Thinkorswim, which is designed for active traders and options traders, and TD Ameritrade Mobile, which enables clients to trade and manage their accounts on-the-go, using iOS and Android devices. TD Ameritrade has also developed a range of application programming interfaces (APIs) that enable developers to build custom trading applications and integrations with other financial services providers, such as Quicken, TurboTax, and H\&R Block. The company has also partnered with IBM, Oracle Corporation, and SAP SE to leverage artificial intelligence (AI), machine learning (ML), and data analytics to improve its trading platforms and client services.

Acquisition by Charles Schwab

In 2019, Charles Schwab Corporation announced its intention to acquire TD Ameritrade in a deal valued at approximately $26 billion, which was completed in 2020. The acquisition has enabled Charles Schwab to expand its client base and product offerings, and has created one of the largest online brokerages in the United States, competing with Fidelity Investments, E\*TRADE, and Robinhood. The acquisition has also enabled TD Ameritrade to leverage Charles Schwab's scale and resources to invest in new technologies and platforms, and to expand its financial planning and wealth management services, in partnership with Raymond James Financial, LPL Financial, and Commonwealth Financial Network. The deal has been approved by Federal Reserve, Securities and Exchange Commission (SEC), and Financial Industry Regulatory Authority (FINRA), and has been recognized as one of the largest mergers and acquisitions in the financial services industry, alongside Morgan Stanley's acquisition of E\*TRADE and JPMorgan Chase's acquisition of Bear Stearns.

Regulatory and legal matters

TD Ameritrade is subject to regulation by a range of government agencies, including the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and Commodity Futures Trading Commission (CFTC). The company has also been involved in several regulatory and legal matters over the years, including a settlement with the SEC in 2019 related to trading practices, and a lawsuit filed by the State of New York in 2020 related to cybersecurity practices, which has also involved New York State Department of Financial Services (NYSDFS), Federal Trade Commission (FTC), and Department of Justice (DOJ). TD Ameritrade has also been recognized for its commitment to regulatory compliance and risk management, and has partnered with Deloitte, Ernst & Young, and KPMG to provide audit and consulting services to its clients, as well as compliance training and regulatory advisory services through its TD Ameritrade Institutional division. The company has also been a member of the Financial Services Roundtable (FSR), Securities Industry and Financial Markets Association (SIFMA), and Investment Company Institute (ICI), which have provided guidance and support on regulatory matters and industry best practices.