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With Tom Bradley heading a new high-net-worth effort, TD Ameritrade will compete with RIAs, at least obliquely

The Omaha-based broker will use the ex-RIA chief to go after $1-million-plus accounts

Author Brooke Southall June 12, 2015 at 10:38 PM
1 Comment
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Tom Bradley and Tom Nally may now have a relationship of coopetition

Tom Nally


Tom Bradley


Fred Tomczyk

Stephen Winks

Stephen Winks

June 15, 2015 — 8:55 PM

The TDA HNW Brokerage model might have more significant impact if it were a HNW Advisory model. Think of underserved advisors stuck in a brokerage business model who would benefit from a scalable expert advisory services business model, not possible in a brokerage format. If it plowed new ground in supporting advisory services (more modern approach to portfolio construction, advanced technology, work flow management, prudent process) that gave brokers control over their value proposition, cost structure, margins and professional standing it would immediately outdate the brokerage format and fill the industry’s leadership vacuum in advisory services. Massive market share would be put in play.

Wouldn’t it be great if there were a platform that actually supported ongoing fiduciary duty in the best interest of the investing public without fear of fiduciary liability because it would be built around the statutory requirements demonstrably in support of fiduciary standing.

Stephen Winks

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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