Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

Retail broker TD Ameritrade buys Scottrade in $4 billion deal

Adam Allington Oct 24, 2016
HTML EMBED:
COPY
A view of signage outside of a TD Bank location in the Brooklyn borough of New York City. TD Ameritrade announced on Monday, October 24, 2016, that it would acquire Scottrade Financial Services for $4 billion.  Drew Angerer/Getty Images

Retail broker TD Ameritrade buys Scottrade in $4 billion deal

Adam Allington Oct 24, 2016
A view of signage outside of a TD Bank location in the Brooklyn borough of New York City. TD Ameritrade announced on Monday, October 24, 2016, that it would acquire Scottrade Financial Services for $4 billion.  Drew Angerer/Getty Images
HTML EMBED:
COPY

Retail broker TD Ameritrade has announced it’s buying competitor Scottrade in a $4 billion deal, hoping to shore up the low-cost stock trading industry as it deals with declining revenue and growth. Online brokerages helped popularize trading for the masses in the 90s, but now they’re under pressure as investors move to more passive investing such as index fund trackers.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.