$SCHW $AMTD JMP Securities analyst Devin Ryan told CNBC the commission cuts are likely the driving force behind the deal. “If you’re Schwab and you that commissions are going to zero, you don’t want to make a move here and pay for those revenues when they’re still in the model. Now that we’re at zero, they’ve come out of the Ameritrade model, they’ve come out of Schwab’s model, and I think there’s going to be a lot of synergies here,” Ryan said.