TD Ameritrade Reviews | Glassdoor

TD Ameritrade Reviews

Updated January 16, 2018
835 reviews

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Pros
  • Great mid size company with good work life balance (in 59 reviews)

  • This is a solid firm with good benefits and perks (in 45 reviews)

Cons
  • Work/life balance is bad, overtimes and weekend work are normal things (in 15 reviews)

  • Promotional opportunities are limited to other departments in the call center until you have put in a certain amount of time (in 27 reviews)

More Pros and Cons

  1. "Great place to start your financial career!"

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

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

    Pros

    Great people, flexible schedule, and fast room for advancement, and paid training. They're going through a huge merger and are hiring like crazy so it's easy to get your foot in the door.

    Cons

    Lower pay than other firms, you could get a bad manager, and since everyone is moving around, a lot of people don't have a 100% understanding of what they're doing so a lot of it is learning on the go.

    Advice to Management

    More training time. For example we were only given a month to learn the systems before we hit the phones.


  2. "Intern"

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

    Pros

    Worked in the business performance solutions department. Everyone that works there is open to questions from interns and you can learn the most from asking as many questions as possible. Also a great culture.

    Cons

    It was not the field of finance that I am interested in, plus the commute was tough. Everyone seems to commute into jersey city from long distances, so many tended to be on time for work.

    Advice to Management

    Try and recruit interns from different types of school so the intern project is more diversified. Also, my fellow intern who worked in marketing said he was giving lessons to the marketing team from what he learned at NYU, so potentially look into the marketing department.

  3. Helpful (10)

    "Very unorganized right now"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Trainee in Saint Louis, MO
    Current Employee - Financial Services Trainee in Saint Louis, MO
    Doesn't Recommend

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

    Pros

    The fact that they pay you to study for the Series 7 and 63 exams, they offer overtime to study, they offer benefits right away, the diversity in new hires is great but there's no diversity in management, cafeteria with vegan options!, the desks are amazing.

    Cons

    I was told that study time was 3 months. It's actually 6 weeks for the Series 7, one week fort the Series 63, and one month of on the job training. Three of my friends did not pass the Series 7 exam and each of them had a different outcome. We were told to wait to hear back from management on the next steps. One girl was called the same day and offered a different position, one girl was called and told that someone would call back about another position, and one girl (who scored higher than the other two and was so close to a retake) was not called at all. She emailed two managers and never heard back. I feel like someone either dropped the ball or the company is just too unorganized. This made me look at the company differently as the one girl who wasn't called back has two daughters, left a really great job at Edward Jones for the opportunity, and was in the process of buying a home. I just wish there was a better procedure in place for those who don't pass the exam. You can't offer some people another position and not everyone. Isn't that form of discrimination? Funny thing is, the last girl has more financial experience than me. I was also told that after passing the exam, I would get a $1,000 sign on bonus. Now no one even knows when we will get it. "Sometime is February", they say.

    Advice to Management

    Get organized. It's understandable that merging two companies together as one is difficult, but trying to hire people and train them in the midst of it is not a good look. The on the job training after testing is terrible. You've got people moving to St. Louis on the TD side, still settling in and people from the Scottrade side who have no idea what's going on. No one seems to know anything and it's frustrating. You're messing up people's lives in the process and it makes me not consider this as a company I want to grow within.

    TD Ameritrade Response

    Jan 12, 2018

    We’re sorry to hear confusion existed regarding the paid study program. TD Ameritrade is committed to providing equal employment opportunity to all Associates, independent contractors, interns and... More


  4. Helpful (11)

    "Formerly Scottrade Investment Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Guidance Consultant in Saint Louis, MO
    Current Employee - Guidance Consultant in Saint Louis, MO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great network of people to work with. There are several professionals on this team who will go on to build/create great things in our industry. Our team built an RIA from the ground up and soon became one of the fastest growing RIA businesses in the industry. It was a startup feel at an established company.

    Cons

    Leadership of the SIM group was inexperienced and lacked vision. Every time we were on a trajectory to excel, leadership would alter our course by "trying something different". Like they say, "If it's not broke, don't fix it".
    This team, which has done so much in creating long term value for clients, and Scottrade, is being kicked to the curb along with many other employees. Severance packages can't replace the opportunity that has been snatched from good, loyal employees who have endured volatile compensation plans and sketchy compliance oversight.

    Advice to Management

    The culture of TDA needs to be repaired. Years ago, it was one of the best places to work. Between changing compensation plans, decreasing benefits, and lack of leadership/vision, you're on a slippery slope. Compensation needs increase to keep good talent. Clients trust your firm with their life savings, having a new broker/consultant every few months does not offer peace of mind. This is why you are losing share of wallet and will continue to lose to Schwab and Fidelity. The number one focus should be on figuring out how to stop employee turnover. Build long lasting relationships with your employees, just as you strive to do with clients.


  5. Helpful (8)

    "Been here a while..."

    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

    Pay for performance culture. New executives with a focus on being at the front of technology and the trends in the market. Opportunity for growth with the recent Scottrade acquisition.

    Cons

    Compliance heavy for branch associates when it comes to documenting in a wide array of places. Gotta bring high energy every day to hit your performance metrics.

    Advice to Management

    Make it easier for branch associates to do their job. Technology, documentation, and accessibility of systems outside of the office.


  6. Helpful (7)

    "Inexperienced Running Institutional"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Manager in Fort Worth, TX
    Current Employee - Relationship Manager in Fort Worth, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Nothing anymore. Morale has dropped continuously over the last 2-3 years. Turn over is rampant. Quality people are being run off everyday.

    Cons

    Management sucks- Working for people that were promoted only because they were the only option when the company growth skyrocketed. Now it's run by cliques of people in bed with each other. No chance of moving up as the buddy system works, but they make you go through the entire dog and pony show just for grins.

    Advice to Management

    Entire management of institutional needs a major house cleaning.


  7. Helpful (2)

    "Awesome corporate culture that’s very client focused with a relatively flat organizational culture."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Rotational Analyst in Jersey City, NJ
    Current Employee - Rotational Analyst in Jersey City, NJ
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Treated as a valued associate, regardless of job title
    Great work environment
    Good for developing skills and ownership over projects

    Cons

    Salary & benefits on the low end of competitive, depending on office location
    Start a mentorship program
    Expand benefits program to be more inclusive (e.g., increase gym reimbursement / discounts for high-cost states, start student loan payback program)

    Advice to Management

    Offer more competitive salaries / benefits to keep associate attrition low.

    TD Ameritrade Response

    Dec 1, 2017

    We are very proud of our corporate culture and it is great to hear you feel like a valued member of the organization. We strive to ensure that People Matter! We do review our compensation and... More

  8. Helpful (26)

    "A fair description of the role from someone who has worked in various companies..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Consultant
    Current Employee - Senior Financial Consultant
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Work life balance-Our doors are open until 5PM. I am willing to stay late and meet with clients, but it's not a requirement. I am afforded a fair amount of PTO.

    Salary-In comparison to some other firms, the salary offered to me on was very fair.

    Lead flow-You get a book of clients and prospects as well as a fairly consistent lead flow.

    My manager-I am very lucky to have a really good manager. He's very passionate about the job, he cares about his employees and brings a family atmosphere to the office.

    Cons

    I am lucky enough to have been in the industry for a fair amount of time, which has allowed me to work in various companies and in various capacities. So far, TDA is at the bottom of the list(it's not really that close actually).

    I have been with TDA for about 8 months and I have already had some early success as I have exceeded my production goals. So my opinions aren't coming from a bottom producer who has an axe to grind. I am fairly good at my job. That being said, I can't imagine there is a company out there that treats their employees worse. There are many examples of this:

    1. Compensation-The way they handle compensation is egregious. My salary is fair, but the firm will do everything in their power to disqualify you for any and all of the incentive compensation that you are owed. Words(at least words on this website) cannot really describe how bad this is. Besides the blatant attempt to not pay us for work that we do, there are other compensation concerns as well:

    -I have already had 4 compensation plans in 8 months. All of these plans are completely different and have a different set of rules. I give them a pass on 1 of them because of the DOL rulings. So lets call it 3 different compensation plans in 8 months.

    -When I was hired, I was promised a chance to get the new hire year end bonus award. Apparently they got rid of that in the first compensation change after I was employed.

    -In our current plan, part of our compensation is retention. We are required to retain the majority of our books. If you don't, you lose money or you lose the opportunity to earn money. The average SFC has to have 300 clients and 175M AUM. The majority of the client base is not there for you and wants nothing to do with you. A portion don't even have working phone numbers. You get hurt if those people take money out. Whether they are paying for their kids school, taking out their RMD or decide to transfer a portion of their accounts to their nephew who just started in the business, you get hurt if they take out money. This would be fine if you got the same credit for the organic money that comes in, but you don't.

    2. Day to Day-The role itself is a really good role. I basically got a book of business(the way the firm handles this "book" is poor) and my job is to manage that book of business. It would be great if it ended there, but the firm doesn't allow you to do that. The sole focus is on activities and some are meaningless, unproductive activities. If you have a few long client meetings and bring in $4M into managed money, the focus is going to be on why you didn't dial the phone 30 times and why you didn't contact 11 people and why you didn't run any goal plans and so on. Productivity is secondary to activity with this firm.

    3. Employee benefits. Of the companies that I have worked, this one has the worst benefits. They just recently stopped paying for our gym memberships. Really? How much money are saving on that cut?

    4. Direction of the firm. I have major concerns about the future of this firm, but one thing is apparent, its going in the wrong direction.

    Advice to Management

    I consider myself a very loyal employee. I work hard and do things the right way. I know a lot of people in this industry and have made a lot of strong connections over the years. At this point in time, I would not recommend they work for TDA. I know that there were some recent changes to upper management and I pray that they fix this and focus on repairing the major disconnect.

    I really would like this to be my final move, but if things don't change, I won't have a choice.


  9. Helpful (1)

    "Sr Manager"

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

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

    Pros

    Bonuses are quarterly which is decent

    Cons

    Middle management can do a better job.


  10. Helpful (3)

    "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee in Fort Worth, TX
    Current Employee - Anonymous Employee in Fort Worth, TX
    No opinion of CEO

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

    Pros

    Great company, great environment, good benefits, good opportunities

    Cons

    The company has been detertiorating, one can notice the change in management and treatment towards employees in the past 2 years+/-

    Advice to Management

    Go back to people matter instead just business matters


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