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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

Friday, June 12, 2015 – 10:38 PM by Brooke Southall
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Tom Bradley and Tom Nally may now have a relationship of coopetition

Related Moves

Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'

Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms

December 10, 2019 – 2:05 AM

TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor

The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing

July 23, 2019 – 4:30 AM

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 – 10:33 PM

Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder

The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.

December 27, 2021 – 9:58 PM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally




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.

SCW
Stephen Winks

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