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Actually this is how the larger more dominant co.s put the smaller co.s out of business. The smaller co.s just don't have the scale to handle the compression. Schwab can handle this much better than TD. TD may regret the purchase of Scottrade.
TD I think has the bandwith to be just fine. The new entrants like RobinHood, etc will get squeezed as their free trade model is less and less enticing when the trade commissions at the big houses get lower and you include all the research tools at your disposal with them...
TD I think has the bandwith to be just fine. The new entrants like RobinHood, etc will get squeezed as their free trade model is less and less enticing when the trade commissions at the big houses get lower and you include all the research tools at your disposal with them...
I agree this isn't going to end TD and really marketshare pickup will be a nonevent. You would need consolidation or one company well outpricing the field
Merrill Edge gives me a bunch of free trades every month, more than I would ever even think of using. I asked them why. They said it was so they would gain business and use their their other financial services.
I think its an attempt to grow cash deposits and drive people there with the hope they will eventually seek out advisors or buy your funds
Merrill Edge gives me a bunch of free trades every month, more than I would ever even think of using. I asked them why. They said it was so they would gain business and use their their other financial services.
I think its an attempt to grow cash deposits and drive people there with the hope they will eventually seek out advisors or buy your funds
Growing cash deposits is the first goal and it feeds your ability to loan money. That's the main overall goal not really growing wealth management products
Growing cash deposits is the first goal and it feeds your ability to loan money. That's the main overall goal not really growing wealth management products
Didn't banks used to pay interest for deposits and then loan out and make money?
Didn't banks used to pay interest for deposits and then loan out and make money?
They still do but the rate environment is bad right now. If things continue on their current trajectory I think you will see a more normal interest rate environment in 2018.
I noticed I'm seeing fairly decent cash bonuses for transferring money. Citi has a $500/$50k bonus and $300/$15k bonus right now. I was given $1000 last year to transfer my brokerage. Banks are gearing up and there will be a war for our funds.
Didn't banks used to pay interest for deposits and then loan out and make money?
They still do. Net interest on deposits is a big money maker. What they make on the deposit vs what they pay you. Then you have to have deposits on hand to a certain degree to loan money.
Maybe it's early on this front, but remember when you used to get paid a decent rate for your cash holdings? Is anyone paying this again? Comparatively it would make sense to almost give away trades if it attracts the cash deposits and people start drooling for margin again.
Maybe it's early on this front, but remember when you used to get paid a decent rate for your cash holdings? Is anyone paying this again? Comparatively it would make sense to almost give away trades if it attracts the cash deposits and people start drooling for margin again.
Online banks are paying 1% but brokers aren't that I've seen. If they did it would kill their net interest margins
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