TD Ameritrade Reviews

Updated March 8, 2015
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TD Ameritrade President, CEO & Director Fred Tomczyk
Fred Tomczyk
204 Ratings

63 Employee Reviews

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  1. Don't work for an acquisition target if you can help it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Futures Manager in Chicago, IL
    Former Employee - Futures Manager in Chicago, IL

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

    Pros

    Company stability. If you're in the upper circle of the chosen you'll be very well compensated. But only those in that upper circle!

    Cons

    Smothered all the good that was thinkorswim. CEO will give himself a 30% pay increase while cutting jobs / freezing others pay. HR would not input my MBA education into the system. Not given the title for the job I was already doing. They seemed to only want an 'outsider'

    Advice to ManagementAdvice

    I'd give advice but it would be redundant to what has already been said. Also, the amount the executives are paid they should know and if not, be able to figure it out. I would have worked with them on those issues while I was employed but since I quit I don't see why I should work for them for free and tell them how to improve.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 1 person found this helpful

    TD Ameritrade-Call Center Rep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Call Center Representative in Omaha, NE
    Current Employee - Call Center Representative in Omaha, NE

    I have been working at TD Ameritrade full-time (more than 8 years)

    Pros

    If you have been with the company for a few years the pay is acceptable.

    Good hardworking people below the director level

    Good place to start

    Cons

    Micromanaged-You are expected to talk constantly about your productivity (total calls and total sales leads). Your numbers are posted every day on a grease board for all in the call center to see. And you can end up on reports sent up to the Managing Director level should your productivity drop below certain levels.

    No real empowerment. If you have ideas, they will be put into an electronic suggestion box but you may never hear about them again. Your ideas are turned over to others for evaluation and resolution.

    Every year the demands for more productivity are increased.

    Getting a lateral move or promotion outside the call center is extremely difficult because you almost never interact with outside departments.

    Advice to ManagementAdvice

    Management has to understand that the costs to train an associate for a financial firm are quite high. The constant pressure to increase productivity leads to higher attrition levels and ultimately lower productivity. Shaming associates through public embarrassment will not in the long run achieve the numbers need to positively affect the bottom line. Having an Associate Engagement Team which does nothing but organize rewards for reaching productivity goals is not empowerment nor can it lead to engagement. Having to "reward" reps for filling out the annual engagement survey should be a strong indicator as how employees feel they are valued.

    Neutral Outlook
  3. 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
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  5. 2 people 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
  6. 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
  7. 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
  8. 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
  9. 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.

  10. 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
  11. 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

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