ShareBuilder Acquired by ING Direct
An email from ShareBuilder reached my mailbox tonight with some “exciting” announcement: ShareBuilder has been acquired by ING Direct on November 15, 2007. Along with the announcemen, ShareBuilder also told its customers what change they can expect after the transaction: none.
Rest assured there have been no changes made to your ShareBuilder account. All of the easy account maintenance, trading tools and customer service functions you are accustomed to will remain the same. The only change you will find is an eventual logo and color change as ShareBuilder begins to adopt ING DIRECT’s signature Orange color. You can also continue to use the same account number, login and password, and can access your account anytime through the co-branded ShareBuilder website.
While the message says currently there’s no change on ShareBuilde’s services, it won’t surprise me that one day ING will start to offer its savings products on ShareBuilder website and eventually integrate saving and investing together. Something like what E-Trade is doing (E-Trade has its own high yield savings products), so its customers can meet both the short term (savings) and the long term (investing) goals with one broker.
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I got a letter in the mail yesterday about this. I have been concerned that Sharebuilder might get bought out. Although going bankrupt was always a possibility, but after the failures of Netbank and E-Trade, I was confident that my assets would be purchased by someone.
We’ll see if ING can avoid messing up a good thing.