TD Ameritrade Reviews in New York, NY | Glassdoor

TD Ameritrade New York Reviews

Updated October 19, 2016
14 reviews

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New York, NY

3.5
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TD Ameritrade CEO & President Tim Hockey
Tim Hockey
1 Rating

14 Employee Reviews

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Pros
  • An excellent work environment and work life balance (in 50 reviews)

  • If you are newly licensed and YOUNG, TD Ameritrade is a good place to start your career (in 17 reviews)

Cons
More Pros and Cons

  1. Helpful (4)

    "Former Investment Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in New York, NY
    Former Employee - Investment Consultant in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Overall a very good company with tremendous potential. Great place to learn the investment business. The culture is fast paced and always changing. Must be willing to adapt very quickly.

    Cons

    The primary focus is sales and numbers. That culture creates very high turnover in the Investment Consultant role. Thus the client experience can be poor since there is little consistency in the ranks.

    Advice to Management

    Create greater consistency in the rank and file members. Focus on growth and more importantly retention of both clients and employees.


  2. Helpful (1)

    "Still miss it"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in New York, NY
    Former Employee - Investment Consultant in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    great culture, really care about employees, training opportunities for people who seek them out. some really smart people who are willing to mentor. they do a good job showing you how your job relates to the company's mission. genuinely care about helping clients.

    Cons

    sales targets are not correlated to location so sales reps in less wealthy areas have the same goals as the guys in NYC.

    Advice to Management

    rolling targets. keep communicating with all company meetings


  3. Helpful (1)

    "Branch Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in New York, NY
    Current Employee - Branch Manager in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Good atmosphere and culture, firm seems to genuinely care about employees, pretty standard 40 hour week with occasional late nights. Good work life balance.

    Cons

    Pay and benefits are below industry average, which limits your ability to recruit better talent as a BM, ultimately impacting your income. Good Investment Consultants move on to better things within 2-3 years, so you wind up spending a lot of time trying to recruit and coach mediocre talent which drains you after a while. Good place for people new to the industry.

    Advice to Management

    If you want to compete with Schwab, you're going to have to invest more in marketing and technology to change client perceptions, and the compensation issue must be addressed to obtain talent. You can't talk about building a relationship model while still being stuck in a transaction model, the daily focus is all about widgets.


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  5. Helpful (1)

    "Great company, written off branch with no leadership or help for a prime NY location"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in New York, NY
    Former Employee - Investment Consultant in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Competitive solutions for clients, great benefits for employees and flexibility. Access to top performers was easy which in my situation was great since no support came from my branch but make sure management did not find out because they would be offended easily since looking for positive help coming from someone else was frowned upon but as I said easily accessible.

    Cons

    Incompetent branch manager and unpredictable support. Compared to other NY locations and even though consistent product sales were being achieved the $ amount was not there so instead of helping IC it's easier for them to bring on someone new and start fresh. Anytime support was called upon a different answer was provided for the same problem and important depts (New accounts, ACATs) were only available through instant message. CSS did nothing except look for new jobs and study for exams to get hired at other firms and provided no support to IC's. Branch manager sat in office without any positive input and was not even able to handle internal conflicts or issues so it made it uncomfortable place to work at times.

    Advice to Management

    Compared to other branches where everyone worked towards achieving goals and working together my particular branch had no leadership or support for the sales team from the higher ups who didn't care even though there was/is so much upside potential. Instead of improving and helping with a consistent producer it seems easier for the company to hire again and start from scratch. Since I was there 3 employees left or asked to leave and it was not due to their work ethic, knowledge or experience just poor environment at a great company.


  6. Helpful (2)

    "Investment Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    I worked at TD Ameritrade full-time (More than 10 years)

    Pros

    company has good intentions; good starting point for young person pursuing this type of career

    Cons

    NOT good for experienced financial advisor; no growth opportunities within this role; same buckets to fill with same amount of business per bucket but for LESS compensation year after year; EMPLOYEE ENGAGEMENT is a lot of lip service; BRANCH MANAGERS DO NOT KNOW HOW TO MANAGE or COACH their ICs. NOT ABLE TO ACHIEVE HIGHER level of SUCCESS in this role;

    Advice to Management

    TRAIN YOUR BRANCH MANAGERS! A great branch manager is a coach and able to help ICs achieve higher success! CHANGE THE NOTION of "You're doing fine! Keep it up!" KEEP TRAINING EVERYONE!


  7. Helpful (2)

    "Great place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in New York, NY
    Current Employee - Investment Consultant in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great environment for people looking to work hard and make money. You call on existing clients and try to build relationships. The people you call are already clients of the firms so people don'y usually hang up or get angry from a call as if it were a cold call. The company is great to work for and compensates well for its top performers. The culture is great and the people are friendly, I couldn't ask for more.

    Cons

    No overtime pay, and managers frown on people who leave at 5.

    Advice to Management

    Keep up the great work!


  8. Helpful (6)

    "so true about post with " Be Realistic ""

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in New York, NY
    Former Employee - Investment Consultant in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at TD Ameritrade (More than 5 years)

    Pros

    get a book of people to call. and call you will ! management only looks at #'s. they will tell you to your face that relationships matters but it does not. good for people who lack selling skills and not able build relationships quickly. get a salary , ( can not survive with that only ) and quarterly bonuses.

    Cons

    Zero Growth ! , by the time you figure out their systems you will be burn out. behind other competitors in platforms, systems, and solutions.


  9. Helpful (5)

    "Be Realistic - a great discount broker with a solid list of offerings, not much more than that."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in New York, NY
    Former Employee - Investment Consultant in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Opportunity to grow professionally, while being assigned a book of clients, base salary and quarterly bonus potential is very high. It's normal to make around 100k, and not unusual to make well over that amount. While not the biggest company in terms of people, the revenue is on par with competitors 3-4 times the size in manpower.

    Cons

    Company tends to outsource everything, their managed portfolios are Morningstar strategies, and the assets are simply custodied by Ameriverst. it's not TD Ameritrade's idea. When clients feel a need for financial planning, estate planning, or money manangers, it's provided through the network of outside independent Registered Inverstment Advisory firms, again, the clearing firm, or custodian of the assets will be Ameritrade. The company simply wants to generate revenues from fees and commissions. Has no interest in being the source of investing ideas. Because of this, professional development will be limited. After 1-3 years an an Investment Consultant selling the Morningstar stragies and setting appointments for outside IRAs, one should really be looking at the next level firms. Staying longer than that, speaks for itself. Would you stay in college forever or graduate eventually? The longer a person stays, what does that say?

    Advice to Management

    If you want to constantly get better and be a great firm, then consider this:
    Really put the clients first, not just recite a mantra. If you are really putting clients first, ultimately you will have to provide more for your employees and empower them. That is how you will attract great people, help them grow, then retain them. That is, if you are actually interested in that one day.


  10. Helpful (1)

    "Great Place to work but hard to advance"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in New York, NY
    Current Employee - Investment Consultant in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great culture. Very easy to communicate. Friendly environment. Growing Company.

    Cons

    Lack of vertical movement. Hard to consider a career vs. job

    Advice to Management

    Create more roles to keep tenured employees


  11. "Great as Commerce but just like every other bank as TD"

    Star Star Star Star Star
    Former Employee - Assistant Head Teller in New York, NY
    Former Employee - Assistant Head Teller in New York, NY

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

    Pros

    Pay and health insurance were decent. Good 401k. The branch I worked in was pretty good but that's because I had great co workers who actually did their jobs.

    Cons

    It use to be Commerce bank and the atmosphere was friendly and it was a pleasure to work there. But once TD took over they changed a lot of things and made it into a true retail bank where it is all about selling the customers products. So now it's just like any other bank.



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