TD Ameritrade Reviews

Updated October 16, 2014
Updated October 16, 2014
322 Reviews
3.5
322 Reviews
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TD Ameritrade President, CEO & Director Fred Tomczyk
Fred Tomczyk
175 Ratings

Review Highlights

Pros
  • Work-life balance is good if you want to leave the office promptly at 5 (in 18 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Is Solid and reliable

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

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

    Pros

    It's a large Corporation and easy to get lost in the rest of the herd

    Cons

    High turn over, lack of loyalty

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Financial Reprentative

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

    I have been working at TD Ameritrade

    Pros

    Great company to work for
    They appreciate their associates
    They will train you and help you get your licenses
    They have mutilated schedules to fit your lifestyle
    They have opportunities for growth

    Cons

    24 hour call center, so you may have to work on a late shift or overnight shift to start

    Advice to ManagementAdvice

    Look at the pay comparable to other companies.
    Pay for more fore sales

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Potential

    • 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 as a contractor (more than an year)

    Pros

    Good company culture and the training is excellent. Everyone is really helpful and willing to lend a helping hand . I also enjoyed that because they are a 24 hour facility they had a full cafeteria open majority of the day with lots of options for breakfast, lunch and dinner.

    Cons

    No opportunity to be promoted unless you know someone. You can be good and no one will care. The lack for growth or potential to grow makes the company NOT so great.

    Recommends
    Positive Outlook
    No opinion of CEO
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  5. 3 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
  6.  

    Investment Consultant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - National Branch Investment Consultant in Omaha, NE
    Current Employee - National Branch Investment Consultant in Omaha, NE

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

    Pros

    Potential to make $300k+

    Cons

    Potential to make $300k+ .... Only if you are a top 1% performer.
    Goals continually increase while work load also increases the longer you have been there making it very difficult to achieve longevity in this role. Management has no intentions of increasing longevity for this role regardless of the rah rah they spit out. Many false promises. They burn more resources finding ways to NOT pay you fairly in many circumstances. Even when they know it isn't fair they say they will look at ways to adjust comp plan in the future . Comp Plan adjustments are rarely in the favor of the sales associate.

    Advice to ManagementAdvice

    Put your money where your mouth is.
    Be honest, no more B.S.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Decent place to work

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

    I worked at TD Ameritrade full-time (more than an year)

    Pros

    Fairly flexible, good managers, base plus commission - the better you were the more you could make. Have heard they have changed commission structure some now though.

    Cons

    Call center/Cube farm feel. Mostly inbound work for New Client Development position. As people start to do well the commission structure can change from a quarter to quarter basis. In the New Client role there is some grey area on what you can get commission paid on about how leads are qualified.

    Advice to ManagementAdvice

    Try to be more clear on commission and how leads are qualified. Stop worrying so much about adherence levels and compliment the people that produce.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8. 1 person 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
  9.  

    Great People to work with, but in the end just another large corporation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Coach in Draper, UT
    Former Employee - Investment Coach in Draper, UT

    I worked at TD Ameritrade full-time (more than 8 years)

    Pros

    I worked for the educational division of TDameritrade (Investools). We taught individual investors how to trade stocks and derivatives….mainly options. The people are all good conservative people. Maybe even a bit too conservative. The pay is good, but the department was constantly shrinking when I was there, which made it a rather stressful place at the time. The pay is good especially for the city. Good benefits. Well organized. Clear expectations.

    Cons

    In our department (Coaching) you are not conservative you might be looked down upon by middle management. Most of them went to BYU a very conservative christian school. They tend to be rather judgmental when it really comes down to it. It's not their intent, but they can't help it. But all, in all they are good people.
    45 hours / week minimum
    It's a big corporation. Metrics are important. But maybe not. In the end you just might get fired because your VP doesn't like you.

    Advice to ManagementAdvice

    Create some diversity.
    Get some empathy for people not like you.

    Recommends
    Negative Outlook
    Approves of CEO
  10.  

    Investment firm or Tech company? You choose.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Design in Jersey City, NJ
    Current Employee - Software Design in Jersey City, NJ

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

    Pros

    Really pushing the envelope as far as trading platforms go. Teams across multiple cities task well together, even with the usual development hiccup. The company as a whole has a very family-oriented feeling, does plenty of outreach work, and is seen in the industry as an one of the best big firms. Definitely competitive pay too.

    Cons

    Typical big-business organizational issues. Promotions not easy, but still there if you stick around long enough.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Great overall company

    • 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

    Pros

    Outstanding people. Lots of potential opportunities in lots of different areas within one city.

    Cons

    Very very political. Must be in the eyes of the right people to advance quickly regardless of performance.

    Advice to ManagementAdvice

    Become less 'political' and reward more to hard working performers.

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