Wednesday, August 22, 2007

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 twcarey on 08/22 at 08:12 AM
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