It had it's faults, but TD didn't have this supreme level of bullsh-t. Schwab schwucks
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It lost 20% of revenue when commissions went to $0. TDA was a combination of TD Waterhouse & Ameritrade, with TD Bank holding 40% of TDA stock. TD Bank did not want TDA to start its own bank as that would cut into TD Bank's revenue (TDA's deposits were held at TD Bank). It also did not want TDA to start its own wealth management business as TDB had its own wealth management business. In any event, TDA was a great company to work for and you probably would have enjoyed working there.
Neither was Schwab, until after the acquisition.
Not sure what changed except TD.
Yes, and Schwab’s that will get revenue wiped out by…. rising rates. Genius.
Except for a business model that was literally wiped out by the reduction of commissions