Tag: Scottrade

The Scottrade Center, home of the St. Louis Blues hockey team, is looking for a new name. TD Ameritrade recently acquired Scottrade and says it’s not interested in retaining the naming rights for the arena. KMOX radio asked Olin’s Patrick Rishe, director of the business of sports program, for his take on attracting a new brand name for the center.

Patrick Rishe

“Whether you’re talking about the sale of a franchise or the sale of naming rights or the sale of your home, competition will drive that price up,” Rishe explained.

“So I think that’s the strategy that they should employ. Unfortunately, if you look at it on a national scale, even with the renovations, Scottrade is still going to pale in comparison to Chase Center (in San Francisco) or Golden 1 Center (in Sacramento) and so forth.”

What name would you like to see on the home of the Blues?

Link here to listen to the KMOX story.

TD Ameritrade Holding Corporation (Nasdaq: AMTD) and Scottrade announced on Monday that they have entered into a definitive agreement for TD Ameritrade to acquire Scottrade in a cash and stock deal valued at $4 billion dollars as of Oct. 24, 2016.

“The whole industry is under fee pressure,” Rich Ryffel told the St. Louis Post-Dispatch. Ryffel is a senior lecturer at Olin and a 30-year veteran of the securities business. “They want to get as much scale as they can,” he said.

According to the TD Ameritrade press release, “The transaction combines two highly complementary organizations with long histories of helping millions of people invest in their financial futures. For TD Ameritrade, the transaction adds significant scale to its retail business, extends its leadership in trading, and more than quadruples the size of its geographic sales force footprint.”

For the 12 months ended Sept. 30, 2016, TD Ameritrade and Scottrade, on a pro-forma combined basis, had:

• 600,000 average client trades per day

• $944 billion in total client assets

• 10 million funded client accounts

• $14 billion in margin balances

• $149 billion in cash balances