Charles Schwab’s CEO, COO and Head of Adviser Services presented details to analysts on how the TD Ameritrade merger is going and what the future of the market looks like; the presentation revealed the Justice department requested additional details on the merger which the company described as customary; the company has created an integrated management office and said integration costs will run about $1.6bn; while the company provided answers to most questions there are still concerns about how the two companies plan to integrate different, complex technology stacks while not losing many customers; some of their competitors are offering cash incentives to open accounts which Schwab executives do not like but understand they will need to match offers in order to keep customers; “Unfortunately, this approach works,” Bettinger said in prepared remarks according to Business Insider. “And so therefore, organizations like ours, despite finding it a somewhat distasteful approach, recognize that we have to be willing to match these types of things or there’s a certain percentage of clients who will move on.” Business Insider