TD Ameritrade Completes Scottrade Account Conversion

Maria Nikolova

More than four million brokerage accounts now have access to full TD Ameritrade solutions suite.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) is pleased to report that it has successfully completed the conversion of Scottrade brokerage accounts to TD Ameritrade.

The conversion, a major milestone in TD Ameritrade’s ongoing integration of Scottrade, took place over the weekend – just five months after closing the acquisition late last year. Converted brokerage accounts now have access to TD Ameritrade’s full suite of investing platforms, solutions, and education. And, all TD Ameritrade clients can now take advantage of an exponentially larger branch network, with 364 locations nationwide.

“We are very proud of the team we have at TD Ameritrade,” said Tim Hockey, president and chief executive officer of TD Ameritrade. “A committed group of people representing both companies has been working together for the last year to plan for this event. Hundreds of employees have worked nights, weekends, and through holidays to prepare our systems, transfer data and client information, address technology gaps, and ensure Scottrade clients were kept informed every step of the way. It has been a relatively smooth transition, and while our work is not yet complete, there’s a lot to feel good about today. Now we can truly say to our Scottrade clients, ‘Welcome to TD Ameritrade.’”

“The first two trading days have gone well, and we remain at the ready for our clients as they adapt to this big change,” said James Kostulias, integration planning lead for TD Ameritrade. “We’ve built significant scale and efficiencies into our technology, operations, and client service. While we are currently experiencing higher levels of client engagement, which is to be expected, everything is working as it should.”

Scottrade clients are now able to log into their accounts at TD Ameritrade using their existing Scottrade credentials. An online tutorial is available to help them learn how to use the new platform, and the company’s official Transition Hub remains available, providing up-to-date details about the transition.

TD Ameritrade remains committed to making the transition as easy as possible and providing all clients with an outstanding investing experience throughout this integration and beyond. Clients with questions can receive help in several ways, 24 hours a day, seven days a week:

  • Log in using their existing Scottrade account number and password.
  • Connect with TD Ameritrade chat bots through Facebook Messenger or Twitter Direct Messages.
  • Speak to a live TD Ameritrade representative by calling 800-669-3900 and selecting Option 3.
  • Use TD Ameritrade’s automated phone service by dialing 800-669-3900 and selecting Option 2. (In order to use this feature, clients will need their new TD Ameritrade account number, which can be found by logging in to an account online with their existing Scottrade credentials. Then, go to Client Services> My Profile> and click on Personal Information.)

“The client experience remains our number one priority,” said Peter deSilva, president of retail distribution for TD Ameritrade. “We have prepared every point of engagement – from the great people in our branches and service centers, to newer channels like our Facebook Messenger and Twitter chat bots, and our Amazon Alexa skill – to provide the help, support, and education our clients need as they explore all we have to offer. This integration has always been about giving investors a better investing experience, and that’s what we intend to do.”

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<