TD Ameritrade Reviews

Updated August 25, 2015
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3.6
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TD Ameritrade President, CEO & Director Fred Tomczyk
Fred Tomczyk
233 Ratings

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
  • Technical side upper management doesn't always know what is going on (in 13 reviews)

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

More Pros and Cons

425 Employee Reviews

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  1. Helpful (1)

    run from this place they want a degree but nobody has one

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - New Accounts Associate Or Mail Team in San Diego, CA
    Current Employee - New Accounts Associate Or Mail Team in San Diego, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    there are none, they only hire temp people then fire them for no reason, its a good place to work if you have no degree and dont care about how you are treated

    Cons

    this is a place you work to pay the bills only, promotions are only given to people that are connected and there is alot of that at TD especially on the new accounts side of the house

    Advice to Management

    stop the in fighting and pay attention to your employees, if you hate your job then quit and let some one else run the department,


  2. look elsewhere

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in Scottsdale, AZ
    Former Employee - Investment Consultant in Scottsdale, AZ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good health benefits. Nice co workers

    Cons

    incompetant management! Only look out for themselves.

    Advice to Management

    You need to respect employees a bit more. They are what make your company run smoothly. Clearly spell out your policies.


  3. Helpful (4)

    Bottom of the barrel in the financial industry - Ask to see the numbers *Read This*

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in Minneapolis, MN
    Former Employee - Investment Consultant in Minneapolis, MN
    Doesn't Recommend
    No opinion of CEO

    Pros

    Cheap for clients. Employee's, better than a factory. More website than brokerage firm. College educated? Give yourself a better shot.

    Cons

    Deceit. Lured with false numbers. Bait and switch. 4 managers, 3 years. 16 Investment Consultants since 2007. Office holds 6.

    Advice to Management

    Gather an opinion before you speak. Senior Management searching for empty vessels to carry messages. If you're mindless, you fit.


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  5. Helpful (6)

    Run...Run VERY fast!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Omaha, NE
    Former Employee - Financial Services Representative in Omaha, NE
    Recommends
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The employees overall are nice to work with. They have good educational offerings They offer time off when it is slower

    Cons

    There are no opportunities for advancement. The only way you can advance is if you're a rock star in sales. The job is very stressful as you're stuck on a phone for the whole day. You're usually have to deal with irate clients as the website regularly has issues. You are literally managed down to the second, which takes micromanagement down to the cellular level. The job has moved to being focused entirely on sales which has created a "what have you done for me lately" culture. You are asked to sell products that aren't necessarily in the best interest of the client.

    Advice to Management

    Care more about your employees and clients and less about the bottom line. Make employee appreciation more of a focus as most employees on the front line are miserable. Hire a few more teams to make wait times lower for clients and create a less stressful atmosphere for your employees. Improve your internal PR, for example, don't layoff employees and then announce a raise for the CEO to be followed by an email from higher-ups saying they were going to enjoy their time at something like the Indianapolis 500 all within the same day.


  6. Helpful (3)

    Churn and Burn

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in Richmond, VA
    Current Employee - Investment Consultant in Richmond, VA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at TD Ameritrade full-time (More than a year)

    Pros

    Excellent Base Salary and potential for quarterly bonuses get a book of existing clients to call on

    Cons

    "churn and burn" - quick trigger-finger to fire Investment Consultants if they are unlucky enough to experience two consecutive quarters under sales targets.

    Advice to Management

    treat Investment Consultants with more respect, not just a liability on the balance sheet


  7. Helpful (9)

    I Didn't Know Hell existed on Earth

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative Broker in Fort Worth, TX
    Former Employee - Financial Representative Broker in Fort Worth, TX
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Good medical benefit and I mean medical benefits only. Flexible schedule.

    Cons

    Where do I start? First, don't be fooled by the reviews from Omaha because their city lacks employers so there just happy to have a job. This companies philosophy is seduce you with advancement opportunities, but you never get compensated much for advancing. HR forgets to tell you about that part. I started out as a Financial Rep Broker who was already licensed, which pays from 35K to 43K. I got promoted a few times to other positions within the company, but each time I was promoted I would receive a $1,500 increase, which is a joke. This companies annual increases are usually 1-2%, which adds to your frustration that you don't get paid anything. My last position I was offered was a PCS Broker, which is the highest paid broker at TD. They told me I would only get a penny increase, literally .01 cent. I asked them why I would be ignorant enough to except the position for a penny increase, when it required more responsibility and more phone calls than the average broker on my team? Managements justification to me was that my job title name would change. That I should consider myself honored to have this title without pay. I declined the job offer. Management preys on the fact that the job market isn't good. There are 3 routes you can go to advance at TD. The first route is service, and the highest position you can have is a PCS broker. This job pays around 45K plus quarterly bonuses, but they bonuses are a joke for the abuse you take on the phones. The second route is sales, and the highest position you can have is an Investment Consultant. IC's make around 50K plus bonuses, but most of the time you don't blow out your sales, so you're stuck with this salary. Also, if you miss your sales goals 2 quarter in a row they let you go. The third route is management. This job takes an act of god to get, because you have to be the biggest brown noser on the planet. Also, you have to be under educated to have this job, and enjoy playing solitaire. If you have in MBA or a law degree don't even bother applying for a management position. Managers at this company always fear people that are educated, because they worry you'll take their job some day. The culture at this company is horrible. Everyone that has worked at this company over a year ends up hating the company. They keep cutting back on quarterly bonuses, but they say there going to increase the compensation you make through sales goals. This is an outright lie. If you're intelligent enough to do the math you'll realize you're getting cheated out of more compensation. I received numerous Presidents Club awards at this company, and it's their highest honor they can give to a person. I say this because I don't want people to read this post, and say oh this guy probably wasn't a high performer, that's why he's frustrated about the pay. In my 4 years at TD my salary only increased 7k. Compared to friends of mine that joined a competing firm in the area, I saw their salary increase over 30K in 4 years. I resigned at TD, and immediately got a 25k increase with another employer. Don't waste your time with this company unless you lack a college degree, like being paid peanuts, like taking 80-120 inbound calls a day or enjoy being micromanaged to the point of insanity. This place is hell on Earth.

    Advice to Management

    PAY YOUR EMPLOYEES MORE MONEY. When the economy gets better you're going to have a mass exodus. Then you'll only be able to hire under educated monkeys to grow TD.


  8. Helpful (1)

    The most forgettable job I've ever had

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Programmer Analyst in Omaha, NE
    Former Employee - Programmer Analyst in Omaha, NE
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Nice people in the rank and file

    Cons

    This is a boring place to work. Creative and innovative thoughts are thwarted at best, punished at worst. Upper management is quite content to cut positions, under the guise of lean, lower benefits and anything else it takes to line their own pockets. Their salary structure is mediocre, raises are pitiful and there is little to provide you with initiative to do anything more than show up.

    Advice to Management

    Why bother? They have no interest in hearing anything.


  9. Helpful (1)

    where is the upside?

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Services Representative in Ponte Vedra, FL
    Current Employee - Client Services Representative in Ponte Vedra, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at TD Ameritrade full-time (Less than a year)

    Pros

    Name Brand , National stage and clean reputation

    Cons

    Terrible Pay, Revolving door syndrome, not the bargain.

    Advice to Management

    Re think everything, clean house, build a true empowered sales force.


  10. Helpful (4)

    Undervalued for the work you do

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant
    Current Employee - Investment Consultant
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Revenue Neutral investment products to offer clients

    Cons

    Targets and goals go up every year, yet pay stays the same. you are a slave to this company. Glorified referral source. As a professional Financial Advisor (IC) you have zero ability to actually advise clients. its all about how can you refer them to another "bucket" or "widget" to meet your sales goal. At the end of the day its not about retaining talented people, its about churn and burn and company sees very little value in individual employees. if you leave they will just find another struggling young broker from Merrill, Smith Barney, Ed Jones etc... and give them salary and put them through the wringer for next 2-3 years. what do clients get? a new "advisor" every 2-3 years. I would think the company would value having retention of "advisors" so their clients would have a better experience. oh well, good place to get your bearings and some added experience, but dont stick around too long... you'll get trapped!

    Advice to Management

    start to value what the people are doing to help your company grow. Consider paying recurring revenue on the enormous book of advisory business we produce... not only do we have to find it and close it, we are the ones that are left to help the clients on an ongoing basis while the company sits back and takes all the advisory fee income! In the end, I dont think things will ever change, too stubborn and uneducated to make intelligent decisions.


  11. Helpful (6)

    Overworked at an extremely stressful pace

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant
    Former Employee - Investment Consultant
    Doesn't Recommend
    Approves of CEO

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

    Pros

    Large number of clients who need help. They pay for educational endeavors that relate to your career!

    Cons

    No one cares about anyone else. Clients that you have worked very hard for can get reassigned or changed to other reps without notice. Cold, cut-throat environment. I have no idea why some reviews suggest there is a good work/life balance. My experience was working occasional weekends and 12 hour week days, while getting in trouble if ever leaving before 6 PM. Absolutely horrible CRM and other tools. Technology is a joke.

    Advice to Management

    Most ICs are afraid to admit to upper management how they really feel because they fear reprisals. Do exit interviews. (Especially to those who were consistent top-performers.)



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