TD Ameritrade Reviews | Glassdoor

TD Ameritrade Reviews

Updated August 21, 2017
765 reviews

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Pros
Cons
  • Work/life balance is bad, overtimes and weekend work are normal things (in 14 reviews)

  • Promotional opportunities are limited to other departments in the call center until you have put in a certain amount of time (in 26 reviews)

More Pros and Cons

  1. "N/a"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Fort Worth, TX
    Current Employee - Financial Representative in Fort Worth, TX
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great resources to get licensing. Coworkers and managers are friendly and team oriented. Great company

    Cons

    Can't think of any cons

    TD Ameritrade Response

    Jul 25, 2017

    Here's hoping that your positive experience only continues to get better over time! We appeciate your positive outlook and hope you have a long career at TD Ameritrade.


  2. "Trainee"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at TD Ameritrade full-time

    Pros

    Amazing building & people. Excited to come to wrk each day! I'll truly be sad if I'm not hired on full-time.

    Cons

    I'm in training for my series 7. I learn & comprehend better than sitting in front of a computer all day. I don't want to be a stock broker. However, I was told that I had to pass my series 7 to be offered any job @TD.

    Advice to Management

    Even though 7 is on a computer, identify & reach out to those who haven't studied in this fashion. I am smart but this course study is intimidating.

    TD Ameritrade Response

    Aug 10, 2017

    Thank you! We’re very proud of the culture at TD Ameritrade, and we all work hard to ensure that values resonate in the relationships we build and the work we do. TD Ameritrade may provide... More

  3. "Missed it by "that much"..."

    StarStarStarStarStar
    • 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
    Positive Outlook
    Approves of CEO

    I worked at TD Ameritrade full-time (Less than a year)

    Pros

    Outstanding company to work for! I've never been treated so well by an employer! Everyone bends over backwards to help

    Cons

    I had to leave because I came up short on a passing grade on the Series 7 by one percentage point

    Advice to Management

    None

    TD Ameritrade Response

    Jul 21, 2017

    Thanks for your response. We're glad you had a positive experience here at TD Ameritrade!


  4. "Relationship Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at TD Ameritrade full-time

    Pros

    Great Atmosphere
    Size of company allows you to learn various parts of brokerage business

    Cons

    Lower pay than other companies

    Advice to Management

    value employees

    TD Ameritrade Response

    Jul 19, 2017

    Thank you for your feedback! Our company is growing rapidly so there will be even more opportunities to learn different parts of the industry. Regarding compensation, we receive consistent positive... More


  5. "Amazing!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Team Manager in Fort Worth, TX
    Current Employee - Team Manager in Fort Worth, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at TD Ameritrade full-time (More than 10 years)

    Pros

    Culture and people, great opportunity to start a career and get paid to study for your license but if you don't pass you don't have a job.

    Cons

    Some jobs are limited by specific location. Opportunities or growth in specific areas you maybe limited due to location.

    Advice to Management

    Continue to focus on what matters, client's, associates, and share holders!

    TD Ameritrade Response

    Jul 17, 2017

    Thank you for your response! We're glad you've had a positive experience with TD Ameritrade! We’re very proud of the culture at TD Ameritrade, and we all work hard to ensure that values resonate in... More


  6. Helpful (1)

    "Data Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at TD Ameritrade full-time

    Pros

    Average benefits, healthcare is OK.

    Cons

    Business is very demanding. Need to work week days and weekends.

    Advice to Management

    Respect employees time.

    TD Ameritrade Response

    Jul 25, 2017

    Thank you for your feedback. There are many different job roles at TD Ameritrade and some of our positions have more demand in hours than others. We try to our best to offer schedules that fit our... More


  7. Helpful (16)

    "Good Job Terrible Career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Relationship Manager in San Diego, CA
    Former Employee - Senior Relationship Manager in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    There are definitely pros to working at TDAI. The benefits are above average, the new building is pretty amazing as well. The new cafeteria is awesome and there is an onsite gym as well. Both are super convenient because if you're a Relationship Manger, you only get a 30 min lunch break. If you're looking for something steady and consistent, this is the place for you.

    Cons

    This was my first job out of college, I started with TDA Trust company in Denver back in 2007. I transferred to the institutional branch in 2009 and worked my way up from Relationship Manager all the way to Senior Relationship manager.

    1) The average salary listed on this page for this branch is actually largely inflated. I was the primary service contact for an RIA with over 5 billion under management. I was assigned what my managers acknowledged was the most challenging relationship in the building. I know for a fact that TDAI was making millions a year solely on the firm I managed, but I was making around 60k. Keep in mind that I spent 8 years with this company as well. The only people who actually make real money in that building work in Sales or as Team Managers.

    My manager sitting less than 5 feet away from me was making TWICE what I was making and he would leave early, show up late and surf the internet. Tough pill to swallow.

    2) Micro Management. Every second of your day is dissected and analysed. Your daily stats are put up on huddle board where you are ranked against the other people on your team. These whiteboards are out in the open where everyone can see them and you huddle around them each morning. They put so much pressure on Managers to meet certain metrics (that are often meaningless) and their quarterly bonuses are weighted to those metrics to ensure that they enforce them. For example, they recently rolled out a new system. It was terrible, every RM at all levels hated it because it tanked our productivity and provided no real value in the process. It would add minutes to each call. The new system provided no real value to your role as RM. They tried to enforce a 100 % adoption rate by tying those metrics to your manager's quarterly bonus. My manager openly hated the system, but was forced to make us all use it.

    You literally can't go to the bathroom unless you tell 25 people you're stepping away from the phones. Back office employees do not have to worry about this though.

    3) If SR Management spent a lot of money developing a new web based application, like the one I referenced earlier, rather than scrap it and admit that it's not working as intended, they try and force the issue instead.

    4) Politics. All promotions are pre determined, especially all managerial and sales positions because those are the only jobs that pay well. Managers pre determine who they want to hire before they even open the position internally so people can apply. Top talent does not rise to the top. My advice is to make friends with all the managers and SR Managers, because without those connections, you literally have 0 chance of being promoted to those coveted positions.

    5) Understaffed! The most important metric of all would be hold times. Every team I was on, even at the highest level was understaffed. They try and create a culture where people can create suggestions to improve processes and forward them up the food chain. All of that and any other initiative being rolled out ends up getting scrapped on daily basis in order to shift resources to accommodate the increasing phone times. TDAI has spent the last few years gathering assets, growing and growing, but they refuse to hire to increase the base infrastructure. Because of that, quality has declined year over year. The Sales team has been doing a great job, but they just haven't hired enough people in the front and middle office to handle the increase in work volume.

    6) Cost Cutting. Competitors recently announced price cuts, so TD had to cut their trading rates to match Fidelity and Schwab. Interest rates are still low and the cost per trade dropped from $9.99 to $6.95, so they are making $3.05 less per trade now! I have no knowledge of the impact this has had, but I would guess it's having a negative impact.

    7) Career Development. There is plenty of opportunity for lateral movement, but no real upward movement once you hit Senior Relationship Manager. Once I got to that level, I was surrounded by TDAI "lifers" who had been in the same position for years and years. SRM's are so bitter because you spend years working your way up to that level, but once you get there, there is no exit plan or defined path. To top it off, when you reach that level you're working directly with the sales team and you become abundantly aware that you're doing similar work to the Sales team, but you're making half the money. Insult to injury is that you're trapped once you get there. Multiple SRM's on my team had been there for 5 plus years!

    8) You're just a number. This last one is personal for me, so take it with a huge grain of salt. I spent almost 8 years at TDA, over 5 years in the SD location. I had to take a leave of absence to take care of a sick family member and eventually had to resign because of it. Not a single person from my team reached out to me in any capacity, even after I had to resign. During my exit interview, my manager didn't even throw me a thank you for my 8 years of service. My manager claimed to be a person who actually cared about their employees. Only work here if you are ok being a number, a barcode on a desk.

    Advice to Management

    Do what you say you're going to do. Every year for 5 years the CEO goals for the company were the exact same! I literally have the laminated handout they gave every employee each year. As a joke I would compare them each year, because I thought it was hilarious that they literally hadn't changed more than a word or two. Why have the same goals every single year for 5 years? Why waste the money laminating all of those handouts if you're not going to change anything?

    The townhall meetings are also so obnoxious. The entire time you are forced to listen to someone telling you how amazing the company is doing and all the assets we're gathering. But when it's time for quarterly bonuses or annual merit increases, the tone changes and all of sudden money is really tight and there just isn't enough to give you the full 2-3% annual raise that you definitely deserve. I was in charge of managing a relationship with an RIA firm with over 5 billion under management, all by myself really, and I was making around 60k.

    You widely recognize that your competitive advantage is your superior service. That is what you are selling to these RIA's when you bring them on. For some reason you underpay the actual relationship managers who provide the service you are selling. You reward the sales team and the managers of the RM's, but not the RM's themselves. There is no incentive for anyone to ever stay in that role and that is your biggest selling point!

    Also you sales strategy is so primitive. You only do TV commercials as far as i can tell and that is the biggest waste ever. Absolutely no ROI on that form of advertising now because nobody watches commercials anymore! When was the last time anyone reading this actually watched a commercial? Yet you spend alot of money on commercials that nobody is ever going to watch because we DVR everything now.

    While I was on my leave of absence, I took online courses in SEO, E-commerce and Social Media Marketing. I might already know more than anyone in that San Diego building about digital marketing now. Maybe you can bring me back as a marketing consultant at some point because you guys are in the stone age.

    Stop pre determining who is getting promoted! If you walk around and talk to all the managers in your building, you will quickly realize that you have been promoting the wrong people! Competition brings the best out of people, you put up the stats on the huddle boards to create competition among lower level employees. But when it comes to competing for the actual manager jobs, you groom people ahead of time, pre determining who is going to get the job and then make all these people jump through hoops interviewing for a job they have no chance of getting. People openly talk about this all the time, it's not a secret. Managers are getting promoted based on how much the hiring SR manager "likes" them. I have a tough time writing this because I do like almost everyone that works here as people, but that doesn't necessarily mean they are doing a very good job. I liked all of my managers as people, but it was so obvious that all got promoted because they started working at TDAI before the massive expansion and they all got promoted because they were there and someone had to get promoted. It shouldn't be based on who has been there the longest, it should be based on who does the best job. A lot of the managers do not have formal educations and they lack creativity or adaptability. You have created a culture of followers, not forward thinking leaders. A culture where who you know and who you're friends with is more important than what you know or how good at your job you are.

    Last but not least, show some compassion for your employees! If one of your employees has to resign to take care of a family member, maybe show some compassion. If a high net worth client or advisor has a major life event, you send them a gift basket. Show your employees the same level of respect and it will go a long way!

  8. "Great place to work"

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

    I have been working at TD Ameritrade full-time

    Pros

    Excellent Benefits, great atmosphere, and overall a good team environment.

    Cons

    Really nothing at all. Its been great

    TD Ameritrade Response

    Jul 7, 2017

    Thank you for giving us your feedback. We strive to put together teams that work well together and strive to win! Our benefits, which are above average in this industry, help foster associates to... More


  9. Helpful (1)

    "Good people, average benefits, below-average pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retail Trade Desk in Omaha, NE
    Current Employee - Retail Trade Desk in Omaha, NE
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at TD Ameritrade full-time

    Pros

    The people you work with are amazingly helpful and always willing to educate. The benefits are average among industry standards. And there are so many positions to move to within the company- however, all are nearly lateral.

    Cons

    Pay. The pay working for a large public company is almost embarrassingly low. Sure it pays the bills, but barely. When compared to other firms in the industry, TDA has a lot of room to improve- especially for the specialized departments. We have some of the most knowledgeable and intelligent talent on the trade desk and margin risk teams, yet they are compensated considerably lower than comparable positions within other firms.

    Secondly, TDA is on a hiring spree to ensure they have enough staff to handle the upcoming acquisition. They seem to be hiring nearly anyone off the streets who doesn't have a criminal background. This has led to an increase in inefficiency, poor training, and unknowledgeable representatives with absolutely zero industry experience.

    Advice to Management

    I love the accepting culture TDA has created, and continues to strive for. The open door policy with management is admirable as well. But within each and every department, there is an underlying theme of discontent when it comes to happiness and longevity of employment with the firm all related to the low hourly wages. I think you could see an increase in attraction to better, more talented and experienced employees if the wages compensated for such.

    TD Ameritrade Response

    Jul 17, 2017

    Thank you for your comments. We’re very proud of the culture at TD Ameritrade, and we all work hard to ensure that values resonate in the relationships we build and the work we do.

    We're sorry... More


  10. Helpful (8)

    "Team Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Team Manager in San Diego, CA
    Former Employee - Team Manager in San Diego, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    The company does invest a great deal in to Employee morale. There are inclusion programs to promote diversity.

    Td Ameritrade has budgets dedicated to Team events.

    The company sponsors the Special Olympics, Pride Day etc. and they are constantly planning company-wide events.

    They do offer quarterly bonuses however the weighting of the bonuses can be inconsistent.

    The facilities are nice and they have an in-house cafe, but it is pretty expensive.

    Cons

    There are the usual gaps between associate to manager to director etc.

    Management is actually not diverse in nature. Mostly Caucasian males that have association with other managers. I am not Caucasian, but as a manager I was not part of the Good Ol' Boys scotch club. Yes, that's a real thing.

    There isn't any accountability for managers' availability to their associates despite a "required" 10 hour work day. However I was instructed to keep constant records of my associate's attendance.

    Company is still in process of implementing the Lean Process in to their operations and service departments and it is not functioning properly. Managers have lost their jobs due to their lack of support for Lean.

    For some positions, management in particular, you will be terminated if you do not pass your 7, 63 and 24 licenses. Exceptions can be made to side-step or demote an associate or manager, however this is not "normally" the case.

    Managers are now required to produce technological advances, procedural upgrades or some sort of improvement to the overall operations or service center, if not, they too are subject to termination. This is expected in addition to your daily workload.

    You will see some illegalities taking place at this workplace as well. TD Ameritrade Inst. currently employs a Drug Dealer who actually deals drugs to members of the management team as well as associates. This person actually does so on the company premises as well as at company events. This person has avoided termination from three different teams.

    There have been inappropriate relationships between managers that have been reported and ignored. One specifically resulted in the female associate receiving a promotion and the male manager going unpunished.

    You will also see inappropriate interactions between travelling Executives, Directors and Managers when they are visiting from Dallas Ft Worth, Omaha or New Jersey and female associates.

    Parking is a bit of nightmare as they share the space with a 3d printing company.

    Advice to Management

    The organization needs to do a better job of promoting associates based on Merit not Office Politics.

    I would not continue to allow illegal activity to be conducted in your building nor should you employ individuals that would take part in said activity.

    I would also do a better of job of promoting an equal work place where women don't feel like they have to be inappropriate in order to progress, while also taking disciplinary action against those in management who look to take advantage of those relationships.

    I would also reconsider the licensing requirements as you are hemorrhaging talented associates and managers that cannot simply be replaced.

    TD Ameritrade Response

    Aug 9, 2017

    At TD Ameritrade, focusing on our people is our priority. We strive to provide a positive and substance free work environment for all our employees. As part of our culture and our guiding core... More


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