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Retail broker TD Ameritrade buys Scottrade in $4 billion deal

Adam Allington Oct 24, 2016
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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
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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.

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