TD Ameritrade

www.tdameritrade.com
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TD Ameritrade Reviews

Updated February 4, 2015
Updated February 4, 2015
61 Reviews
2.0
61 Reviews
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TD Ameritrade President, CEO & Director Fred Tomczyk
Fred Tomczyk
61 Ratings

Review Highlights

Pros
  • Work-life balance is good if you want to leave the office promptly at 5 (in 21 reviews)

  • Great benefits outside of salary (in 17 reviews)


Cons
  • No sick pay, multiple upper management positions for single teams, TPS reports (in 13 reviews)

  • In our department (Coaching) you are not conservative you might be looked down upon by middle management (in 9 reviews)

More Highlights

61 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern - Hourly in Fort Worth, TX
    Current Employee - Intern - Hourly in Fort Worth, TX

    I have been working at TD Ameritrade

    Pros

    work life balance company values

    Cons

    person growth compensation personal growth

    Advice to ManagementAdvice

    more training discussing perks

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Stressful environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Consultant in Birmingham, MI
    Former Employee - Investment Consultant in Birmingham, MI

    I worked at TD Ameritrade full-time (more than 3 years)

    Pros

    Salary, great location and ability to offer sales promotions for new assets

    Cons

    Very stressful as you have to sell and push product. Demanding position and micro management

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    OK Training Ground

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at TD Ameritrade full-time (more than 3 years)

    Pros

    Good place to start your career and get face time with clients. Great technology and trading platform

    Cons

    low pay, lots of disgruntled employees. Like almost all large companies it is very political. Has turned into a bit of white collar sweat shop over the years.

    Advice to ManagementAdvice

    Get a clue and start focusing on the things that really matter. Pay your people so that you can attract and retain real talent.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 2 people found this helpful  

    Apply elsewhere...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative in Fort Worth, TX
    Current Employee - Financial Representative in Fort Worth, TX

    I have been working at TD Ameritrade full-time

    Pros

    Great training .... Good place to start...

    Cons

    Pay is low ..... No upward mobility .....

    Advice to ManagementAdvice

    Increase pay...... ceo thinks he can get away with increasing metrics and keeping employees working with lower than industry pay ..... Company will eventually go downhill ....

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    It's all about transferring assets from other companies to TD Ameritrade.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - New Accounts Associate in Omaha, NE
    Former Employee - New Accounts Associate in Omaha, NE

    I worked at TD Ameritrade full-time (more than 3 years)

    Pros

    Progressive company that tries to offer decent pay for a hard days work. Very difficult to move from phone positions to management.

    Cons

    Very young average employee age. Only people in their twenties get promoted to manager level. The company is trying to plan for the future by grooming young managers but they overlook qualified people with more experience.

    Advice to ManagementAdvice

    Get back to concentrating on meeting customer needs instead of focusing totally on transferring assets from other brokerages.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  7. 6 people found this helpful  

    Micromangement Central

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at TD Ameritrade

    Pros

    Good pay and benefits. Modern facilities and technology. Casual attire.

    Cons

    Understaffed. Goals keep getting raised. People quitting without jobs lined up because they hate it so much. Clueless, idle managers thanking their lucky stars that aren't the poor saps that have to deal with non-stop calls from usually arogant and often ignorant clients.

    Advice to ManagementAdvice

    Drop the insane focus on sales stats and productivity so that the workplace isn't a living hell for the phone reps.

  8. 2 people found this helpful  

    Longevity is challenging!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous in Los Angeles, CA
    Former Employee - Anonymous in Los Angeles, CA

    I worked at TD Ameritrade full-time (more than 5 years)

    Pros

    Given a book of business. No need to prospect new clients

    Cons

    Compensation package changes every year. Usually gets harder to make the same amount of money year after year.

    Advice to ManagementAdvice

    Bring up middle performer ICs to top level. Improve branch manager coaching to do so. Terminate those managers who do nothing to demonstrate IC improvement. .

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9. 5 people found this helpful  

    Drastically cut the pay plan....Culture changed as well.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Consultant in DFW, TX
    Former Employee - Investment Consultant in DFW, TX

    I worked at TD Ameritrade (more than 5 years)

    Pros

    Easy hours, Good benefits with vacation, tuition reimbursement, etc.

    Cons

    No real latitude to customize whats right for client unless its putting them in a mutual fund or ETF portfolio. All portfolios have a good portion of fixed income and can't customize allocation so if client already has fixed income outside the portfolio it doesn't matter. You can send to RIAs but can't talk about specifics, can only set meeting and hope it closes. TD is REAL strict on what you can and can't say, really focuses on dials and contacts instead of quality of interaction. Once you put a clients money in one advice solution you can't get paid on the same money EVER if they decide to move it out and then ask for help again. Employees are jumping ship often for Scottrade since the CEO of Scottrade is the old Head of Sales for TD Ameritrade back when the days were good. Its good if you need to cut your teeth in the industry but then move on.

    Advice to ManagementAdvice

    Consider focusing on quality, not quantity of interactions. Consider other portfolios that are 100% equity if client has fixed income outside portfolio. Consider making the comp plan more attractive. Maybe add trails so that IC's are motivated to keep clients in advice solutions.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Was great sales company, now micro managing data to increase production but have stifled and demotivated every one

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Consultant
    Current Employee - Investment Consultant

    I have been working at TD Ameritrade full-time (more than 3 years)

    Pros

    If you are new to the industry and need licenses or unemployed is good, they are always hiring for investment consultant job as you can see in listings, always a good sign, 50% turnover in that role.

    Cons

    It is a pure sales role with only two products to offer, but have to pretend to do financial planning and then surprise I just happen to have the perfect solution. All your calls are recorded and analyzed daily; you are very limited on what you can say considering you have to have series 7 license. No incentive to build client relationship mostly one and done. Upper management is under the delusion that it is a team work environment, it is a usually professional environment but it is an eat what you kill compensation plan, and you are judged strictly on your individual production; there is no team production. I am seeing good people leave every month since now an emperor wears no clothes atmosphere. If you are not a yes man and have any individual ideas do not go here. They are foolishly trying to create a plug and play role with weak technology that is basically a time tracking overlay for CRM software with some sales scripts. The greatest salesman ever is the consultant that sold upper management the LEAN dream.

    Advice to ManagementAdvice

    Get some new blood from industry for upper management. Whole upper management is stacked with TD Waterhouse old bank tellers that sold using rotary phones, totally out of touch with what competitors are offering and the sophistication of modern investors, in few years went from best pricing most competitive to most expensive in discount brokerage arena. HR discovered social media all positive reviews and ra ra stuff is mainly from headquarters otherwise they would never fill all the empty slots.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Investment Consultant

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at TD Ameritrade

    Pros

    Decent pay if you do well

    Cons

    Constant sales and bad managers

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