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TD Ameritrade and Schwab at odds on franchise model

TD's CEO Fred Tomczyk questions Schwab's approach to greater distribution using independent contractors

Author Dina Hampton June 16, 2011 at 2:33 PM
no description available
Fred Tomczyk: [We’re] protective of [our] brand and client experiences. Owning is the right experience for us.


Elmer Rich III

Elmer Rich III

June 16, 2011 — 10:44 PM

There are proliferating niches in all financial services markets (they’re called “market segments”). Chances are each firm is spot-on for their market segment, but dead wrong for the others’.

It’s like tastes in ethnic foods – whose wrong? Well, the Ethiopians eat sheep’s eyeballs. That’s wrong.

Frederick Van Den Abbeel

Frederick Van Den Abbeel

June 16, 2011 — 11:53 PM

Regardless of the approach it seems to be a very slippery slope. The conflicts of interest are quite obvious — and the line seems quite thin! Being able to speak from both side of one’s mouth is a skill the retail custodians have perfected.

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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