Charles Schwab recently announced plans to acquire Ameritrade for $26 billion. The combined entity will have 24 million customer accounts holding ~$5 trillion assets.
While most people are familiar with Charles Schwab and Ameritrade for their enormous retail brokerage businesses, most do not know these firms also offer prime brokerage and custodial services to institutional investment funds.
Our research database tracks 53,711 institutional investment funds (hedge funds, private equity funds, venture capital funds, real estate funds, etc.). These funds often use third-party providers as prime brokers and custodians.
This data study reports on the prime brokerage and custodial services offered by Schwab and Ameritrade.