TD Ameritrade - Undervalued for the work you do | Glassdoor
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There are newer employer reviews for TD Ameritrade

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Helpful (5)

"Undervalued for the work you do"

Star Star Star Star Star
  • 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.

Other Employee Reviews for TD Ameritrade

  1. Helpful (1)

    "Objective and fair for clients deteriorating compensation program reduces moral!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant
    Current Employee - Investment Consultant
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at TD Ameritrade full-time (More than 5 years)

    Pros

    TD Ameritrade does make it pretty easy to feel comfortable providing retail investment products for clients. This means that the product mix is fair and objective and is not significantly biases by sales incentive to the associate.

    Cons

    On the same token is that the compensation program does not reward experience, knowledge and years of service. You are only as good as your last two quarters. The incentive to produce results has diminished significantly the last two years. Internally they describe the company as a retail distribution company. They do not operate their branches as a retailer. There are no true retailers in upper management. Only glorified stock brokers leading middle and upper management.

    Clients are also becoming commodities. Relationships with clients are viewed as belonging to the company, and are no longer your preferred clients. This makes it hard to be more than a shoes salesman with a series 7.

    Advice to Management

    In true retail distribution which what they call themselves the branches would run off of year over year comp sales and a P&L. The associates would be hired for knowledge, experience, and proficiency. They would be paid according to their market value with smaller incentives based on sold widgets. The widgets would have a volume/value performance metric and associates would be part of the branch reward based on total profitability. Remove the mystery of profit margin at the branch level and associates might actually help the contribute to the total profitability of the branches.

    The SOC indicates that they want to be like the really cool computer/phone store (who's stock is way down now). IF that is the case, Mr Tomsczyk, start treating the associates and clients as more than commodities to be used up. Those associates at the cool stores really enjoy their products and their company...my guess is that because not only are the products innovative, but they are also treated as assets.

    Consider another example the world famous coffee store retailer. These stores operate off a P&L. The managers hire for competence. They have a budget, targets, well established brand standards, and operating procedures. They also take really good care of associates (total compensation). It shows in the lower turnover rate than other typical specialty retailers.

    The turn over rate at the branch level is increasing...sign of weakening moral.


  2. "Good firm, can do better"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at TD Ameritrade full-time

    Pros

    Good opportunity for advancement
    Use cutting edge technology

    Cons

    Can be rigid with employee monitoring

    Advice to Management

    More relevant training


There are newer employer reviews for TD Ameritrade
There are newer employer reviews for TD Ameritrade

See Most Recent

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