Thinkorswim

thinkorswim Group Inc.
Subsidiary
Industry Investor Education and Online Brokerage
Founded Education division (Investools) in 1983 as Telescan, Inc.
Headquarters New York with offices in Chicago, IL, Draper, UT, and Palo Alto, CA
Key people
Lee Barba, CEO
Ida Kane, SVP/CFO
Paul Helbling, SVP/CAO
Tim Knight, SVP Technology
Dale Ainge, SVP Student Acquisition
Scott Sheridan, EVP, thinkorswim Group Inc
Tom Sosnoff, EVP, thinkorswim Group Inc
Peter Santori, SVP and General Counsel
Products Investor education and online brokerage
Revenue Increase $318 million USD (2007)
Parent TD Ameritrade
Website www.thinkorswim.com
www.investools.com

thinkorswim is an American brokerage offering live and online investor education services.

In addition, through its brokerage subsidiary, Thinkorswim, Inc., Investools provides services to about 100,000 funded trading accounts for self-directed option traders and institutional users who invest in equities, exchange-traded funds, futures, mutual funds and bonds.

Revenue for 2007 was a record $318 million, including the operations of Thinkorswim from February 15, 2007. Client assets were almost $2.6 billion at December 31, 2007. The average client account is $45,000, significantly above industry average. Active subscribers to its education programs were 102,800.

Investools Inc. offers investor education and brokerage and related financial products and services for self-directed investors. Investools Education Group offers a range of investor education products in a variety of interactive delivery formats, including instructor-led synchronous and asynchronous online courses, in-person workshops, one-on-one and one-to-many online coaching programs and telephone, live-chat and email support. Thinkorswim Inc., Investools’ online brokerage firm services self-directed stock, options and futures traders. Thinkorswim offers customers a broad range of products including equity securities, fixed income, index products, options, futures, other derivatives and foreign exchange. Thinkorswim provides front end trading platforms that allow its customers to trade electronically and provides trading tools and analytics. The Thinkorswim software is free through TD Ameritrade and costs $10 per trade.

Subsidiary Thinkorswim, Inc. is a brokerage firm registered with the Financial Industry Regulatory Authority (FINRA), a self-regulatory body.[1]

History

Thinkorswim, Inc. was formed through multiple company mergers and acquisitions:

Industry awards and rankings

In 2012, thinkorswim earned Best Overall Trading Platform in the StockBrokers.com Online Broker Review.[13] For 2013, they were recognized for Best Desktop Platform in the annual review.[14] In 2014, thinkorswim once again took #1 Desktop Platform for trading.[15]

S.E.C. investigation & penalties

On 12/10/2009 the Securities And Exchange commission began an investigation into Investools' (purchased by Think Or Swim) use of misleading sales practices in which 2 named defendants Michael J. Drew ("Drew") and Eben D. Miller ("Miller") were giving trading workshops under the guise of being full time investors by trade, having made their fortunes in this manner as well as assuring "Students" they would achieve the same results by following the Investools method.[16] Among the allegations by the S.E.C. "Investools Did Not Prevent its Speakers from Misleading Investors about a Survey of its Customers' Trading Success"[16]

Currently the investigation by the S.E.C. is "Continuing".[17]

See also

References

  1. "BrokerCheck THINKORSWIM, INC CRD# 106069 SEC# 8-52991". Financial Industry Regulatory Authority. Retrieved 2008-07-25.
  2. http://caselaw.findlaw.com/tx-court-of-appeals/1243370.html
  3. 1 2 PRNewswire, April 17, 2001, Solana Beach, California.
  4. "Tom Sosnoff Tom Sosnoff: A Q&A with the $600 million man behind Thinkorswim". Daily Finance. Retrieved 2009-11-08.
  5. "Orem-based online trading educator expands, gets new headquarters courtesy parent company". Enterprise/Salt Lake City. 8 August 1999. p. 11.
  6. Thibualt, John (April 2008). "Lee Barba". Equities 57 (3). pp. 68(6). ISSN 1053-2544.
  7. "ZiaSun and Telescan to Merge; Combination Unites Leader in Investor Education With Leading Provider of Financial Content and Analytics". Business Wire. 3 May 2001. Retrieved 17 December 2008.
  8. "INVESTools Acquires ZiaSun and Telescan". Business Wire. 6 December 2001. Retrieved 17 December 2008.
  9. "Press release: thinkorswim Group Inc. Name Change Effective Today". thinkorswim. 2008-06-06. Retrieved 2008-07-27.
  10. http://www.tcv.com/news/archives/newsitem.php4?file=./txt/20060919.txt
  11. Nair, Dinesh; Vinu Pilakkott (2008-05-01). "Investools says SEC conducts informal inquiry". Reuters. Retrieved 2008-08-15.
  12. Ortega, Edgar (200-01-08). "Bloomberg.com Article: TD Ameritrade Buys Thinkorswim to Expand in Options (Update4)". Bloomberg. Retrieved 2012-09-28. Check date values in: |date= (help)
  13. "2012 Online Broker Review", February 21, 2012.
  14. "2013 Online Broker Review", February 19, 2013.
  15. "2014 Online Broker Review", February 18, 2014.
  16. 1 2 http://www.sec.gov/litigation/complaints/2009/comp21331.pdf
  17. http://www.sec.gov/litigation/litreleases/2009/lr21331.htm

External links

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