16 ms·
Same reason Schwab bought td and Ms did this deal today... Expand out their younger millennial base and sell them more products. Jpm has Chase as it's retail p
by anonu 7y ago
Same reason Schwab bought td and Ms did this deal today... Expand out their younger millennial base and sell them more products.
Jpm has Chase as it's retail platform. But it lags behind in trading features.
Why not?
- tptacek 7y agoAmeritrade and Schwab are almost the same age and have similar customer bases. Schwab has superior economies of scale and can make more money per customer than Ameritrade. Schwab's move to no-fee trading put Ameritrade in distress (Ameritrade was more dependent on commissions than Schwab), which created the buying opportunity. Which of those dynamics exists for Robinhood?