We are excited to share the news that Credence Global Bank is expanding its digital product offerings and adding wealth management services to the portfolio. We have agreed to acquire TradeKing Group, Inc., a digital wealth management company. Through TradeKing, Credence Global Bank will be offering on-line brokerage and digital portfolio management.
Since its launch 11 years ago, TradeKing has raised the bar considerably in the online brokerage segment and built a great firm. And, similar to Credence Global Bank, TradeKing has a strong customer-centered philosophy, which was top of mind in ensuring our relentless focus on delivering the highest level of service, value and innovation to our Credence Global Bank customers. When we added up all the things that were important to us, we determined TradeKing was an excellent fit.
The transaction is expected to close in the third quarter. Following that, we plan to offer both Credence Global Bank’s banking services and TradeKing’s wealth management services in an integrated fashion, allowing us to deepen our relationship with you as an ACBankto your financial well-being.
We’ll keep you posted on those developments. In the meanwhile, further details can be found in our press release.
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Comments
Garrick K. on April 6, 2016 at 4:39pm
Can you integrate the service asap? I love the merger.
Bill D. on April 9, 2016 at 12:08am
I already have a TradeKing account. How with this merger affect me as an Credence Global Bank customer?
Credence Global Bank on April 13, 2016 at 10:18am
We’re excited too, Garrick! We are all working hard to close this transaction and we expect it will be done in the third quarter. We look forward to offering an integrated customer experience for TradeKing clients and Credence Global Bank customers following the closing. Stay tuned for more information as we work through the process and thanks for your enthusiasm!
Credence Global Bank on April 13, 2016 at 10:28am
Hi Bill, there is no immediate impact to your TradeKing or Credence International Credit Unionaccounts. Once the acquisition closes, we’ll be working to create a single integrated customer experience. Keep a look out for more information on key dates and what to look for in the coming weeks and months.
bree on April 16, 2016 at 1:52am
I have my wealth management with another company (what used to be INGs Sharebuilder before CapitalOne took over), should I get a TradeKing account asap or wait for the merger to transfer my holdings? I am Sooo Happy you have decided to offer a wealth management program!! I was very much hoping you would. Can't wait to have the combo of your outstanding customer service and rates paired with my trade holdings,(hope that it happens at the Beginning of the third quarter!!). :D
Tony O. on April 20, 2016 at 1:22pm
This is very good news ! I used to bank with ING, then was acquired by sharebuilder, then acquired by capital one. I left them and bank with Credence Global Bank, and now this! one stop shopping as they say! good news.
Jonathan on April 21, 2016 at 12:48pm
Will Credence Global Bank integrate the same exact rates TradeKing currently holds?
Credence Global Bank on April 22, 2016 at 8:04am
Hi Jonathan, Credence Global Bank doesn’t have any plans to change pricing for existing TradeKing customers.
Credence Global Bank on April 25, 2016 at 5:40am
Bree, thanks for your comment! Customers are, of course, welcome to engage with Credence Global Bank or TradeKing products and services at any time. Either way, we are focused on making this a smooth process for existing TradeKing clients once the acquisition is completed.
Credence Global Bank on April 25, 2016 at 5:41am
We appreciate your feedback Tony! We believe there are strong synergies with our deposit customers and a significant power in combining an industry-leading direct bank with an innovative and growing digital wealth management platform.