Scottrade clients are now automatically TD Ameritrade members and can sign up for services such as online e-pay, alerts and direct deposit. And Scottrade clients will still be able to access their previous statements and tax documents through TD Ameritrade. All Scottrade locations have either been converted to TD Ameritrade locations, combined or closed.
Scottrade banks have also closed, and funds have either been deposited into TD Ameritrade accounts or sent to clients in the form of a check.
Scottrade clients with questions about the transition are invited to visit the online TD Ameritrade Scottrade Transition Hub or reach out directly to TD Ameritrade via phone, email or live chat.
Related: The Best Investment Brokers. Scottrade offered financial services and products, including online trading and an online brokerage. Scottrade members who are now TD Ameritrade members can assess whether a different brokerage might offer more competitive commission fees or trading options that suit their investing preferences. Take a look at how TD Ameritrade fees compare to fees at other brokerages:. Some Scottrade clients are already enjoying their new brokerage firm.
I like how things are laid out at the website. Another reviewer commented on the high quality of the investment tools available. The screens are intuitive and the information is complete. Some companies mentioned in this article might be clients of ConsumerTrack, Inc. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Read More. Every day, get fresh ideas on how to save and make money and achieve your financial goals.
Securities analyst Michael Flanagan stated that Riney and his company were "looking forward and seeing a lot of industry challenges. In late , he announced he had been diagnosed with multiple myeloma, an incurable form of blood cancer. The Alvin J. Following the completion of the acquisition, Scottrade Bank accounts were closed as of Feb. The transition was intended to be as seamless as possible for Scottrade customers. They were able to log into their new TD Ameritrade accounts by using their existing Scottrade account numbers as the user IDs with their old Scottrade passwords.
Scottrade customers can also access their previous statements and tax documents through TD Ameritrade. Scottrade was reviewed by several sites who unanimously gave the broker high marks for customer service. Its reputation for customer service was mostly based on branch locations and the rapport that was built with clients since its founding in Those advantages were a holdover from the pre-Internet era. Though the company offered online trading since the mids, Scottrade reviews often pointed out that the online experience was not a company strength.
The qualities Scottrade brought to the 21st century from its 20th-century roots were also in some cases liabilities. The brokerage industry gradually shifted away from a few high-net-worth clients handled through personal interactions during the late s.
Since then, the focus has been on lower transaction fees and getting more retail investors. The Internet brought down barriers between investors and gave them the ability to make trades without calling a broker. Faith in traditional financial advisors and brokers took a hit after the financial crisis, especially with younger investors.
By , Scottrade reviews were critical of the company for its high minimum balance on premium accounts, antiquated online interface, and lack of commission-free ETFs. Scottrade brokerage accounts automatically transferred to TD Ameritrade as part of the transition process. Scottrade had a reputation for providing excellent customer service. It is now possible to compare the expanded TD Ameritrade to a popular discount broker like Charles Schwab. For its supporters, TD Ameritrade's customer service more than makes up for slightly higher fees.
Scottrade customers who transitioned to TD Ameritrade were given access to:. Before the acquisition, Scottrade had about branch locations throughout the U. By , those branches had either been converted to TD Ameritrade locations or closed.
After the acquisition formally closed in September , all Scottrade accounts were officially moved to TD Ameritrade by February Scottrade was sold to TD Ameritrade for several reasons including concerns over rising regulatory pressure in the brokerage industry, as well health issues of founder and CEO Rodger Riney. TD Ameritrade officially completed its acquisition of Scottrade on Sept. On Feb. Today, TD Ameritrade is well known for its extensive research capabilities, wide education offerings, numerous support channels, and zero-commission trades.
All Scottrade accounts became fully integrated with TD Ameritrade in early In order to access any funds in your Scottrade account, simply enter your legacy Scottrade account number and legacy Scottrade password on TD Ameritrade's log-in page. As mentioned above, in order to access your Scottrade account, enter your legacy Scottrade account number in the UserID field and your legacy Scottrade password on TD Ameritrade's log-in page.
Business Wire. If you opened an account with a paper application, use your account number and PIN when you first log in. Once you log in, you can set up a permanent user ID and password. If you have multiple accounts, you can link them to access all accounts with a single user ID and password.
Some account types may be restricted from linking. You might be unable to log in because your computer is autofilling an incorrect password or user ID. Try re-entering the information manually. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
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