WMT - Wall Street Breakfast: Massive Disruption In The Brokerage Industry
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Charles Schwab is in talks to buy TD Ameritrade (AMTD), according to CNBC sources, while Fox Business separately reported Schwab (SCHW) would pay $26B for the company. The sector has been under recent pressure by the move to no-fee commissions, leaving brokerages scrambling to find ways to maintain profits. Regulatory pressure? Schwab and TD Ameritrade are the two biggest publicly traded discount brokers and a tie-up would create