OMAHA, Neb. – TD AMERITRADE Holding Corporation here and Fiserv, Inc., Brookville, Wis., announced that TD AMERITRADE has completed its purchase of Fiserv’s Investment Support Services (ISS) business for approximately $225 million in cash plus the amount of acquired regulatory capital.
Additionally, based upon achievement of certain revenue targets over the next 12 months, there is an earn-out of up to $100 million payable to Fiserv.
The acquisition adds approximately $25 billion in client assets to TD AMERITRADE, including $15 billion held in more than 75,000 accounts managed by approximately 500 independent Registered Investment Advisors (RIAs) and $10 billion held in more than 2,000 plans administered by 80 independent third party administrators (TPAs).
