E*TRADE Financial, a New York-based financial services company, has closed the acquisition of Trust Company of America (TCA), an independent advisor custodian based in Colorado.
TCA, established in 1972, provides real-time technology, consultative services, and back office support for registered investment advisers.
The firm managed $18.3bn in institutional assets, $1.6bn in customer cash, and had a client base of over 200 at the end of March 2018.
The deal, valued at $275m, was first announced in October 2017.
E*TRADE Financial CEO Karl Roessner said: “TCA makes our investing advice continuum more complete, enabling us to serve a broader base of clients, from self-directed investors seeking best-in-class digital platforms and guidance, to investors who seek higher-touch relationships and advice.
“The TCA team shares many of the foundational characteristics we at E*TRADE hold dear, such as a commitment to innovation, and phenomenal service, and we are thrilled to embark on the next chapter of our story with them on board.”