The number of breakaway brokers joining TD Ameritrade in its fiscal second quarter continued at the double-digit pace set in 2011, the company said today. ...
Feb 7, 2012 8:58 AM, By Editor-in-Chief, David A. Geracioti
Just two days after the close of iTD Ameritrade Institutional’s annual gabfest, Tom Bradley, the president of the institutional unit, was named head of TD Ameritrade Holdings’ (Ticker: AMTD) retail distribution unit. Succeeding him will be Tom Nally. ...
TD Ameritrade Institutional President Tom Bradley tells Registered Rep. the custodian is considering whether to offer succession financing for its RIA clients. In an interview with editors, Bradley said TD is evaluating three ways to do it: using its own capital, partnering with TD Bank (which owns 45 percent of the company), or staying out of the financing and, instead, referring interested RIAs to outside parties such as aggregators who are willing to put up the money....
The parent company of TD Ameritrade continued to rack up double-digit asset growth in the first quarter ending Dec. 31, the company said today. TD Ameritrade Holding Corp., which has a fiscal year ending Sept. 30, reported $10.2 billion in net new assets for the quarter, up 11 percent on an annualized basis. ...
TD Ameritrade Holding Corp. continued to grab client assets in its fourth quarter ending Sept. 30, the company said today, and quarterly trading revenue rose sharply. Net new assets last quarter were up a record $12.4 billion, more than double the year-ago period and up from $7.9 billion sequentially. ...
New research from Aite Group shows that the online brokerages continue to take market share of wealth management assets from the wirehouse firms—something that surprised Aite Group analysts. ...
Asset growth at Charles Schwab and TD Ameritrade Holding, fueled in part by the RIA custody businesses of both firms, was a bright spot in this week's earnings reports, while trading revenue took a big hit. Both firms reported higher asset-based revenue as they brought on more financial advisors as well as retail investors in the three months ended June 30. ...
Profits and revenues fell at TD Ameritrade Holding Corp. (Ticker: TDMA)last quarter as trading waned at the discount brokerage, but Chief Executive Fred Tomczyk said TDA Institutional has brought on 260 breakaway brokers over the past three quarters, a 20-percent increase year over year. ...
Online options brokerage optionsXpress had been looking for a merger partner for nearly three years before it accepted an offer from Charles Schwab Corp. in March, according to a filing with the Securities and Exchange Commission. Growing competition in the industry was one reason the options company decided to put itself on the block, the registration statement shows....
TD Ameritrade saw 95 breakaway brokers sign up last quarter, bringing average initial assets of $30 million each to the custodian platform, Chief Executive Fred Tomczyk said today after the parent company reported record revenue and record new client assets. The number of breakaways, mostly individuals plus a few teams, was up 36 percent from a year earlier, he told Registered Rep., but it fell within a range that the company has seen for several quarters now. There was a mix of advisors from the wirehouses and independent broker/dealers, but the trend was edging toward more b/d advisors making the move, he said...
Storms blew across America. But in the balmy climes of San Diego, FAs were upbeat and partied down (ahem, studied and worked) at the TD Ameritrade annual conference. ...
While the number of advisors shifting to independent business models slowed somewhat last year from 2009, the size of those breakaways making the move is growing, says Fidelity Investments. It’s not a new trend for the No. 2 RIA custodian. Fidelity has been seeing larger teams joining for many months now. ...
More investor money is making its way to the management of independent broker/dealer LPL Financial and the retail brokerage TD Ameritrade, the two companies said in earnings reports released today. Trading revenue (excluding asset-based fees and advisory assets), however, was less impressive, with LPL posting modest gains and TDA seeing big declines. (Not surprising, given the overall market conditions.)...
If you’re thinking about switching firms, consider this: Now’s the perfect time to rid yourself of unprofitable clients and those who cause you to cringe every time their phone number pops up on your caller ID. ...
Transitioning client accounts is a big part of joining any new firm, particularly if you are starting your own registered investment advisor (RIA). ...
John Van Leeuwen isn't a dentist, but he knows how they think. That's because, for about two decades, he's focused his investment practice on the dental community...
One important aspect of career-building is which designation or designations to pursue. But how do you weed through the more than 250 designations available to financial advisors...
If you’re like most advisors, a good portion of your book is probably in managed accounts. As such, when you’re leaving to start an RIA or join one, you must know how to properly prepare to transfer those assets...
Successful marketing means not just having a website and a brochure to hand out. It’s how you present your firm and your value proposition to clients and prospects...
Banking on a wave of mergers in 2010, the major custodian firms are in a race to offer the best M&A tools to their RIAs so that the assets of selling firms don’t walk out the door to a rival custodian. M&A in the RIA world had dried up but is starting to bounce back, say executives, as firms look for ways to cut costs and begin to grow again. Succession planning has also been a big issue in the financial advisory industry in the past few years, and will continue to be, as the average age in the industry is over 55. ...
Starting to look for a new job can be very daunting, especially if you don't have a clear idea of what you'd like to do next. But there are many things you can do to make sure the job you accept will be the right fit...
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