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FT Partners Advises TCA on its $275,000,000 Sale to E*TRADE

Overview of Transaction

  • On October 19, 2017, Trust Company of America ("TCA") announced its sale to E*TRADE Financial Corporation (“E*TRADE”) (Nasdaq: ETFC) for $275 million in cash
  • Headquartered in Denver, CO, TCA is a leading provider of technology solutions and custody services to independent RIAs, helping them scale operations, more effectively manage client relationships and focus on growing their practice
  • E*TRADE is a leading financial services company and a pioneer in the online brokerage industry, offering easy-to-use solutions for individual investors and stock plan participants
  • The transaction is expected to close in the second quarter of 2018

Significance of Transaction

  • The acquisition will allow E*TRADE to tap into the growing RIA segment in the industry and bolster its ability to attract and retain customers in need of higher-touch services
  • Leverages E*TRADE’s brand to accelerate growth at TCA
  • Creates additional upside opportunities over time through cross-selling of margin lending, securities-based lending, options, etc.

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to TCA and its Board of Directors
  • This transaction underscores FT Partners' successful track record generating highly favorable outcomes for leading WealthTech companies