In its plan to buy Scottrade, TD Ameritrade is making a big push into the retail space, potentially quintupling the number of its client-facing offices.
The $4 billion proposed acquisition, expected to close Sept. 2017, will give TD Ameritrade access to Scottrade's 500 brick-and-mortar locations, out of which 1,000 full-time brokers, or "investment consultants" as Scottrade calls them, work. The locations, commonly found in retail centers and strip malls, are expected to switch over to the TD Ameritrade brand. Currently, TD Ameritrade has 100 such locations.
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