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RETAIL REPORT: RIAs Won’t Have to Duke it Out with TD Ameritrade

Traders Magazine Online News, February 15, 2019

John D'Antona Jr.

Registered Investment Advisors (RIAs) have no fear, TD Ameritrade won’t compete in your space.


As originally reported by Think Advisor, TD Ameritrade Chief Executive Officer Tim Hockey said recently that the mega-retail brokerage is “not going to try and compete in the same space as RIAs.”

Noting that TD’s leadership has been setting a “new course, to clarify and define” a new strategy, Hockey detailed during his opening keynote remarks at the National LINC event in San Diego where the institutional business and RIAs fit in.

Think Advisor wrote that TD Ameritrade’s legacy in the retail space “has been to enable self-directed investors through technology. We have an unmatched set of tools for the investor who is empowered to manage their own money and trade and invest on their own, and for those who want to hand over the reins, that’s where you come in,” Hockey said.

TD’s philosophy is that “RIAs are the best solution for those individuals and families who want and need a comprehensive relationship. The bottom line: we’re not going to try and compete in the same space as RIAs,” Hockey said. “You offer a range of services to clients that quite simply we’re not going to try to emulate. We’re not on a path the build the capabilities that you do. Rather than competing for the same clients, we’re focusing on accelerating your ability to serve more clients, better.”

 institutions to launch this exchange, with the goal to improve transparency, reduce costs and simplify the execution of U.S. equity trading, which will be beneficial for institutional and retail clients,” Hockey said.

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