broker . for banks of similar branding see td bank . td ameritrade holding corporation type public company traded as nasdaq amtd industry finance and insurance founded omaha nebraska 1971 headquarters omaha nebraska united states key people tim hockey ceo joe moglia chairman j. joseph ricketts founder steve boyle cfo tom bradley president retail tom nally president institutional 1 services brokerage firm revenue us 3.247 billion fy 2015 1 operating income us 1.325 billion fy 2015 1 net income us 813 million fy 2015 1 total assets us 26.375 billion fy 2015 1 total equity us 4.903 billion fy 2015 1 number of employees 5 700 1 website www.amtd.com www.tdameritrade.com td ameritrade is an american online broker based in omaha nebraska . the td stands for toronto dominion . td ameritrade holding corporation is the owner of td ameritrade inc. services offered include common and preferred stocks futures etfs option trades mutual funds fixed income margin lending and cash management services . 2 contents 1 current operations 2 history 2.1 awards 3 controversies 3.1 security breaches 3.2 auction rate securities scandal 3.3 customer losses in reserve money funds 4 sponsorships 5 see also 6 references 7 external links current operations edit as of september 30 2015 ameritrade had 6 621 000 funded customer accounts and client assets of 667.4 billion . 1 history edit td ameritrade traces back its lineage to a small investment banking firm and first omaha securities inc. later accutrade in omaha nebraska . ameritrade clearing inc. was established as a clearing broker in 1983 and by 1987 transterra company became the holding company for ameritrade and the company was subsequently known as transterra company . in 1988 the company introduced the first quote and order entry system via the touch tone phone . in 1995 the company acquired k. aufhauser & company inc. and its wealthweb the first firm to offer online securities trading receiving the first order in august 1994 . in october 1995 ameritrade acquired all american brokers . in january 1996 transterra s accutrade launched accutrade for windows the first online investing system that let individuals partake in program investing and basket trading . by may 1996 transterra launched an internet only broker called ebroker and by november transterra company became ameritrade holding corporation . in march 1997 ameritrade became a publicly held company and its ipo opened at 15 per share . in august 1999 accutrade then a division of ameritrade acquired the r.j. forbes group inc. ameritrade formed freetrade in november 2000 which provided commission free equity market orders . freetrade was later replaced by ameritrade izone which offered 5 equity market orders though it no longer exists . in 2001 ameritrade made two acquisitions the february acquisition of tradecast giving ameritrade a presence in the business to business arena and the september acquisition of national discount brokers corporation adding 6.3 billion in client assets . in 2002 ameritrade merged with datek online holdings corporation and changed commissions to 10.99 from 8 for market orders and 12 for limit and stop orders . ameritrade purchased mydiscountbroker.com in june 2003 and client accounts reached 3 million . in 2004 ameritrade completed the purchase of bidwell and company in january brokerageamerica in february investex in may and jb oxford and company in october . as of august 2007 there were reports suggesting that ameritrade was engaged in merger talks with e trade . on january 24 2006 ameritrade holding corporation acquired td waterhouse usa from td bank financial group . 3 following the acquisition it renamed itself td ameritrade . td ameritrade is one of the largest online brokerages with 6.3 million funded client accounts and 663 billion in client assets . 4 revenue and net income are expected to increase to 1.8 billion and 557 million respectively . td bank now owns 39 % of td ameritrade and purchased ameritrade s canadian brokerage operations for 60 million cash . as part of the acquisition ameritrade investors received a special one time 6 dividend funded from ameritrade borrowings and excess cash contributed to td waterhouse usa by td bank . td bank will limit their ownership of td ameritrade to 45 % for up to ten years after the acquisition while founder j. joseph ricketts will limit his family s ownership of td ameritrade to 29 % for ten years after the acquisition . ameritrade ceo joe moglia became the ceo of td ameritrade . in 2008 long time ceo joe moglia announced he would be vacating the ceo position in the upcoming fall after seven years to pursue other interests . fred tomczyk the former coo was named his successor and took over in september 2008 . rumors weasel words started that the company was going to move its headquarters out of the omaha area after moglia took over the chairman position from founder and former ceo j. joseph ricketts . with the departure of ricketts who founded the company in omaha the company for the first time in its history had no members from the founding family on its management team outside of the two that remained on the board of directors . tomczyk further strengthened the rumors when he stated that he would not be moving to omaha but rather staying in the new york city area where he is based . however those rumors were put to rest when in october 2008 plans were unveiled for the new td ameritrade headquarters in omaha . the new headquarters would consolidate the call center and corporate offices together into one building . the new building was planned for development in the old mill area of omaha with a scheduled completion date of 2013 . tomcyzk later confirmed that the company considered moving out of the omaha area but decided to stay because of the large number of employees based in omaha . on january 7 2009 td ameritrade acquired thinkorswim group inc. nasdaq swim including its investools investor education division in a cash and stock deal valued at approximately 606 million . the transaction aimed to advance td ameritrade s growth strategy on the trading side of the business . 5 awards edit the company has received various awards which are listed on its website . 6 controversies edit security breaches edit in november 2007 the company reported that hackers gained access to most of its clients names social security numbers dates of birth addresses phone numbers and trading activity . 7 in 2011 the company settled a related class action lawsuit by agreeing to compensate customers that were victim to identity theft . 8 auction rate securities scandal edit in 2009 td ameritrade settled a lawsuit alleging it had marketed auction rate securities as short term investments . the settlement included a 456 million payment and the buyback of the securities compensating investors for losses . 9 customer losses in reserve money funds edit td ameritrade recommended for its customers to invest cash holdings in a money fund managed by the reserve rypqx the reserve yield plus class r fund from which td ameritrade received fees . 10 11 12 13 in september 2008 the fund broke the buck and money assets of thousands of td ameritrade clients including many senior citizens were frozen . for the larger reserve primary fund that also broke the buck td ameritrade said it will reimburse clients for the first 3 % loss . other reserve funds such as the interstate tax exempt fund were sold by td ameritrade and were caught up in the primary fund s failure leaving investors in these funds without liquidity . however the reserve yield plus fund previously marketed by the company was not covered by the offer . 14 15 investors alleged a conflict of interest for td ameritrade to promote the fund to its clients in the presence of a distribution agreement between the reserve and td ameritrade that earns ameritrade an undisclosed slice of fee revenue . fred tomczyk td ameritrade president argued that the contract was a standard one and that an investment firm has to make money in some way . 10 according to the chicago tribune article the distribution agreement clearly was effective assets in yield plus class r shares sold almost exclusively to td ameritrade clients shot from almost nothing in 2006 to 770 million by march of this year public documents show . another class dominated by the omaha firm shot from 2 million to 171 million . the securities and exchange commission along with several state regulatory agencies investigated td ameritrade s fund promotion and marketing practices . 16 17 the company is named in a class action lawsuit for misrepresentation and marketing of the reserve yield plus fund as a money market fund . 18 the sacramento bee reported that the sec filed a civil complaint against reserve management chairman bruce bent sr. and vice chairman and president bruce bent ii in may 2009 . it also reported anticipated investor losses of 8.3 % and td ameritrade spokeswoman kim hillyer said it will cover up to 50 million of losses in the primary fund . 19 in 2011 the company settled the case and agreed to pay 1.2 per share of the fund that was held by its customers . 20 sponsorships edit the company owns the naming rights to td ameritrade park omaha for which it pays an average of 1 million a year . 21 see also edit auction rate security comparison of online brokerages investing marketing ethics stockbroker sweep account toronto dominion bank references edit a b c d e f g h td ameritrade holding corporation 2015 form 10 k annual report amtd profile for td ameritrade hldg yahoo finance . yahoo . retrieved 2008 04 26 . welcome . td ameritrade . retrieved 2008 04 26 . 1 td ameritrade fact sheet business wire 2009 01 08 . td ameritrade to acquire thinkorswim . business wire . retrieved 2013 06 27 . td ameritrade accolades . td ameritrade official web site . td ameritrade s 6 million customers hit with security breach . cnet . november 26 2007 . td ameritrade settles lawsuit over major breach . sc magazine . october 10 2011 . pepitone julianne 2009 07 20 . td ameritrade settles auction rate securities case for 456m . cnn . retrieved 2010 05 24 . a b fund losses fuel customers anger ; revenue sharing deal raises questions of conflict . chicagotribune.com . retrieved 2013 06 27 . money . omaha.com 2013 07 02 . retrieved on 2013 07 12 . getting personal reserve payout won t deter suit lawyers say archived december 11 2008 at the wayback machine . reserve yield plus investors in sec plea . online.wsj.com . 2009 09 12 . retrieved 2013 06 27 . ameritrade to make clients whole on primary fund . sbk.online.wsj.com . 2008 09 25 . retrieved 2013 06 27 . td ameritrade support for primary and international fund holders . tdameritrade.com . retrieved 2013 06 27 . guru joe . td ameritrade cons customers into safe money funds . blogs.courant.com . retrieved 2013 06 27 . form 10k td ameritrade holding corporation . sec.gov . retrieved 2013 06 27 . investors feel burned by what looked like a money market fund . tribunedigital baltimoresun . investors in fallen money fund reserve yield plus can t access cash . new york daily news . october 3 2008 . td ameritrade settles sec case over reserve fund . wall street journal . february 4 2011 . the omaha baseball stadium becomes td ameritrade park omaha . td ameritrade . june 10 2009 . external links edit official website td ameritrade client and prospect home page td ameritrade api td ameritrade company fact sheet hoover s online td ameritrade fact sheet yahoo td ameritrade holding corporation company profile td ameritrade . net sdk brokerage jobs with td ameritrade retrieved from https en.wikipedia.org w index.php title