TD Ameritrade to close on thinkorswim Group acquisition
TD Ameritrade expects to close its deal to acquire Chicago-based thinkorswim Group Inc. on June 9, Tom Bradley, president of TD Ameritrade Institutional of Jersey City, N.J., told members of the National Association of Personal Financial Advisors today in Washington at the Arlington Heights, Ill.-based organization’s annual convention.
TD Ameritrade expects to close its deal to acquire Chicago-based thinkorswim Group Inc. on this month, Tom Bradley, president of TD Ameritrade Institutional of Jersey City, N.J., told members of the National Association of Personal Financial Advisors today in Washington at the Arlington Heights, Ill.-based organization’s annual convention.
A special shareholder meeting for thinkorswim is set for June 9 at which shareholders will vote whether to approve the deal.
TD Ameritrade Holdings Corp. of Omaha, Neb., on Jan. 8 announced the deal to acquire the online options broker.
“Advisers don’t use options that much,” Mr. Bradley said. “Maybe they just don’t think they need them.”
But the firm is hoping to change that.
In addition to technology, the acquisition includes thinkorswim’s investor education services.
“We are buying great technology and an education business,” Mr. Bradley said. “We will be educating our advisers to teach you more about options and teach you how to do it yourself. On the other side, maybe we can come up with some products with reasonable costs associated with them.”
TD Ameritrade will probably launch educational services and programs in the next three months and introduce products in six to eight months, Mr. Bradley said.
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