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Which in practice has led to a wave of RIA custodial consolidation in recent years, from E*Trade acquiring Trust Company of America (and then being acquired by Morgan Stanley), to TD Ameritrade acquiring Scottrade Advisor Services and then being acquired by Charles Schwab to form the largest RIA custodian that houses the majority of all RIA assets.
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Toronto-Dominion has also established a significant presence in the U.S. by having the most branches in the U.S. among Canadian banks as well as a 13.4% ownership stake in Charles Schwab (after ...
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