No, No, A Thousand Times No
The rumor mill is abuzz, once again, with the possibility of E*Trade merging with TD Ameritrade. I have one plea, based on the needs of online investors and traders: Please Don’t Do It.
Yes, TD Ameritrade has some noisy hedge funds trying to force them into a merger. It would be a disaster from a customer point of view – which is the point of view of my “Electronic Investor” column. Both firms have huge customer bases, as they are currently #2 and #3 in terms of number of accounts. (Schwab is #1.)
They serve very different needs, though, and I believe a merger, though it might make certain hedge fund managers happy, would make millions of customers miserable.
And one columnist.
Posted by on 08/22 at 08:12 AM