Overview
TD Ameritrade Holding Inc. is a securities brokerage and technology-based financial-services firm. The Omaha, Neb.-based company provides services through a national branch network, relationships with independent registered investment advisers, and the Internet.
The company is the result of Ameritrade and TD Waterhouse joining forces in 2006, which gave Toronto Dominion Bank a nearly 40% stake in the firm, now at 45%. In 2008, TD Bank veteran Fredric J. Tomczyk was named chief executive officer. Joseph H. Moglia vacated that post to succeed founder Joe Ricketts as chairman. Moglia has been an executive at Merrill Lynch's private client division and previously had been defensive coordinator for Dartmouth College's football team.
The changes reflect the online broker's moves to shift its business model to focus on more asset-gathering. With new efforts to boost service and customer satisfaction, the company has made a big push to build its asset management business, which produces fees and is a more consistent source of revenue. TD Ameritrade has repeatedly said it would like to acquire rival E*Trade Financial Corp. The company recently acquired online broker thinkorswim Group Inc. to push further into the fast-growing options market and build up its investor-education programs. In 2008, the company purchased a portion of Fiserv Inc.'s investment support services business. The company is teaming up with financial-advice guru Suze Orman in a "Save Yourself Retirement Program" to attract new customers and assets.
Recruiting
Huskers might have an in at this firm. Chairman Joe Moglia, who left college football coaching for Merrill Lynch in the 1980s, has been volunteering at the University of Nebraska athletic department as a life-skills consultant to athletes. College baseballs fans may take note that the company bought the naming rights to Omaha's downtown stadium, home of the College World Series -- now called TD Ameritrade Park.
The family of founder Joe Ricketts owns the Chicago Cubs baseball franchise. He is forming a political organization to run ads against lawmakers who use earmarks to steer government funds to home-state projects, including Senate Majority Leader Harry Reid.
The company recently introduced "Business Evaluator," a new tool to help registered investment advisers who are thinking about joining or starting an RIA firm. It helps them compare business models, estimate expenses, identify their motivations and strengths and design a plan to start a business transition.