TD Ameritrade announced Jan. 12 that its ThinkTech Inc. subsidiary has acquired iRebal, a company founded by Gobind Daryanani in association with three leading planning firms whose portfolio rebalancing program is used by wealth managers. Terms of the acquisition were not announced, but Daryanani will continue to oversee the development of iRebal and manage its sales and marketing and efforts.
The deal, which closed Dec. 27, 2006, is part of TD Ameritrade's strategy, said its president, Tom Bradley, in announcing the acquisition, "to acquire leading products and services that enhance our platform and benefit independent advisors." The deal does not make the rebalancing tool proprietary, however–iRebal will be available still, according to the announcement, "to all advisors regardless of where they custody their assets."
