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June 16, 2020

TD Ameritrade Institutional unveils online tool to connect RIAs with M&A opportunities

TD Ameritrade Institutional has unveiled an online tool called RIAConnect that will match independent RIAs with M&A opportunities and top talent.

The new offering will support virtual introductions between potential acquirers and firms looking for a divestiture or consolidation.

It will support firms eyeing succession or contingency plans.

It also connects firms that plan to hire with graduates as well as career-changers.

TD Ameritrade Institutional clients can exclusively gain access to these services free of charge.

The clients will gain access to RIAConnect through Veo One, TD Ameritrade Institutional’s advanced custody and brokerage platform.

TD Ameritrade Institutional managing director of Sales Consulting Scott Collins said: “Advisers are looking for a safe, secure, virtual community that can help them scale and pursue their strategic goals.

“RIAConnect can help advisers find top talent and acquisitions that can fuel growth and better position their firms for the future. It’s not just about making deals: it’s about making connections that can lead to bigger and better things.”

Notably, discount broker Charles Schwab agreed to buy TD Ameritrade in an all-stock deal worth around $26bn, creating a brokerage giant with more than $5trn in assets.

Recently, Charles Schwab received the antitrust approval from the US Department of Justice (DOJ) for the deal. The deal also secured the go-ahead from the shareholders of the two companies.

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