Charles Schwab Corporation announced its acquisition of TD Ameritrade in November 2019 and closed the deal in October 2020. The integration of TD Ameritrade's retail brokerage accounts onto Schwab's platform took place in waves through 2023 and was substantially complete by the end of 2024. The TD Ameritrade brand has since been retired; its institutional (RIA-custody) business was folded into Schwab Advisor Services as part of Schwab Advisor Services; the retail brokerage business is fully Schwab.
For brokered CD holders who had accounts at TD Ameritrade, the practical experience was:
No. Brokered CDs are issued by FDIC-insured banks, not by the brokerage. TD Ameritrade was always the distribution and custody channel; the underlying CD obligation was, and remains, with the issuing bank (Discover, Sallie Mae, Goldman Sachs Bank USA, etc.). When TD Ameritrade accounts migrated to Schwab, the CDs themselves didn't change in any material way:
If your CD was nearing maturity during the migration window, the maturity proceeds posted to your new Schwab cash sweep automatically.
For new brokered CD purchases, the platform is Schwab CD OneSource. The mechanics, fee structure, and inventory are essentially what TD Ameritrade customers experienced before, Schwab integrated TD Ameritrade's fixed-income desk into its own. Key facts about the current Schwab platform:
See our full Schwab brokered CD review for the detailed current state.
For reference, TD Ameritrade's pre-acquisition CD platform was widely regarded as one of the top three retail brokered CD desks alongside Fidelity and Schwab. It featured:
The integration consolidated TD Ameritrade's strengths into Schwab. Most users who were happy with TD Ameritrade's CD desk have been happy with the post-migration Schwab experience.
Some TD Ameritrade-era CDs retained quirky CUSIP descriptions or interest-payment scheduling on the post-migration Schwab statements. If you're seeing anything that doesn't match your original purchase confirmation:
In practice, migration issues have been rare and resolved quickly when raised.
thinkorswim (the advanced trading platform TD Ameritrade pioneered) survived the integration and is now offered by Schwab as a separate platform alongside the standard Schwab.com interface. For bond and CD analysis, both work; the standard Schwab.com CD shopping experience is what most CD-focused users prefer for simplicity.
Same comparison as elsewhere: 5-year Schwab brokered CDs were around 4.65% in June 2026, while A-rated 5-year MYGAs topped out around 5.50-6.05% (public carrier rate sheets, October 14, 2026). The MYGA premium is structural, especially for tax-deferred accounts. For TD Ameritrade-legacy clients who are now Schwab clients, the conversation is the same as for any Schwab brokered CD buyer.
This article reflects publicly available information and approximate rates as of the date stated above. CD rates, brokered CD inventories, FDIC and NCUA rules, and carrier MYGA rates change frequently, often daily. Always verify current values against the issuing institution's official disclosure documents before committing funds. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers across the annuity market; this article is not an endorsement of any specific bank, brokerage, credit union, or carrier. No compensation has been received from any reviewed institution in connection with the publication of this article. FDIC and NCUA insurance limits, ownership category rules, and the operations of CDARS, ICS, and other IntraFi programs are governed by federal regulation and the program documents; always confirm coverage with the institution and refer to FDIC.gov, NCUA.gov, or IntraFi.com for the official rules. MYGA carrier financial strength ratings, state guaranty fund limits, and tax treatment are subject to change. Always read the actual contract and consult a licensed advisor before purchasing any annuity, CD, or insurance product.
Hans Goldstein is an Enrolled Agent, admitted to practice before the Internal Revenue Service. Not affiliated with or endorsed by the IRS. General education, not tax or legal advice for your situation.