TD Ameritrade

www.tdameritrade.com

TD Ameritrade Reviews

Updated 25 January 2015
Updated 25 January 2015
357 Reviews
3.4
357 Reviews
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TD Ameritrade President, CEO & Director Fred Tomczyk
Fred Tomczyk
193 Ratings

Review Highlights

Pros
  • Work-life balance is good if you want to leave the office promptly at 5 (in 21 reviews)

  • Great benefits outside of salary (in 17 reviews)


Cons
  • No sick pay, multiple upper management positions for single teams, TPS reports (in 13 reviews)

  • In our department (Coaching) you are not conservative you might be looked down upon by middle management (in 9 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

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

    Pros

    Career development, gym reimbursement, benefits start immediately, lots of room to grow, great management

    Cons

    When you are on the phones you can sometimes feel like just a number. To senior managers you are only as good as your stats.

    Advice to ManagementAdvice

    I think a great thing to work on would be continuing to try to get investor services, operations, and the branches all to have better communication.

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Great Place to work

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

    I have been working at TD Ameritrade full-time (more than 5 years)

    Pros

    Pay is average to above for going market rate
    Upward mobility is possible
    Great locations and benefits
    Most people are friendly

    Cons

    Talk about open to change, but not really implemented
    Working in Silo. Team collaboration not done effectively
    No work/life balance

    Advice to ManagementAdvice

    Train managers to manage "down" just as well as they manage "up".
    Really institute a reward/revise program around encouraging work/life balance for middle management.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Good strong company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative Broker in Omaha, NE (US)
    Current Employee - Financial Representative Broker in Omaha, NE (US)

    I have been working at TD Ameritrade

    Pros

    Good work environment!
    Co workers are great!

    Cons

    Have to be willing to work hard to earn great rewards.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Terrific place to learn and grow as a "Sophomore Financial Advisor"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Consultant in San Francisco, CA (US)
    Former Employee - Investment Consultant in San Francisco, CA (US)

    I worked at TD Ameritrade full-time (more than 5 years)

    Pros

    Training wheels on your day, if you're not inherently organized you will like the management style
    Competitive pay for top performing sales reps - the Trips, bonus schedule can be good if you are successful
    Fairly independent - you can't leave the office, but as long as you are on target, you will be left mostly alone

    Cons

    Micromanagement - the flip side to the above Pro is that if you are already a self-starter, you'll find the management of your activities tedious
    Sales Focused - If you are "consultative", forget about the role. You'll be asked to keep a fairly high call volume and talk to many people

    Advice to ManagementAdvice

    Provide a better road map to growth within the organization, make your salespersons feel more tied into a unifying goal rather than making them run their lives via the comp plan if you want to get more from your rank and file

    Recommends
    Positive Outlook
    No opinion of CEO
  6.  

    Pretty Good

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

    I have been working at TD Ameritrade

    Pros

    Decent pay scale, and the work environment is nice. Most associates are great to work with

    Cons

    Advancement can be difficult, some leadership have poor communication skills.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Investor Services Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investor Services Intern in Fort Worth, TX (US)
    Former Employee - Investor Services Intern in Fort Worth, TX (US)

    I worked at TD Ameritrade as an intern (less than a year)

    Pros

    -Great pay for internship
    -Gain in depth knowledge of financial instruments through market talks
    -have great mentorship
    -Got to shadow all the various departments that make up the investor services division

    Cons

    -Was disorganized in the beginning
    -Only had one project, and I felt like I did not gain as much as I could have

    Advice to ManagementAdvice

    Great experience, however I would suggest adding more team building exercises and longer market talks.

    Recommends
    Positive Outlook
  8. 1 person found this helpful  

    A frustrated sales force that is headed for greener pastors

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

    I worked at TD Ameritrade full-time (more than 5 years)

    Pros

    You get to give your clients great tools and can feel satisfied that you give them great offerings. Offerings stack up very well against direct peers. Really no true peer from which you can't win business. Good training for sales staff when they come in. Advise offering is always improving. Employess can learn a lot from the resources if they are willing to dedicate time off the clock. Free Investools access, which is way better than any peer offers. A sales person who knows what they are doing can make a decent living pretty quickly.

    If you like company rah rah, they have a lot of it. Lots of big company initiatives to jump on for something to talk about. Easy to find something to volunteer for outside of work (I think you get 1-2 days a year for this) because they put it in front of you.

    And this could be a pro or a con, but goals are regionalized at all. Careful where you work.

    Cons

    Sales comp is always going down--even when all sales metrics are going up. They talk to sales staff like they are morons and don't understand that. Good ideas are hard to get through. HR is literally NEVER going to be on your side. Again, HR is NEVER going to be on an associate's side. If it's not been done before, it will be hard to get done. Leadership doesn't care to help people advance, even the best people. Absurdly high sales staff turnover. The worst people are very hard to get rid of. There is not a lot of career progression from Investment Consultant role--either go Branch Manager, or move to service, which is where the worst sales people usually go. They don't really support hiring and recruiting like they say they do. The burden that fell on branch sales people, especially managers, for records and compliance has gone up dramatically, though comp did not. They added more layers to reporting and made it more complicated. The burden is not lighten by the DOMs at all. In sales world here, there is no incentive at all to share ideas, work with other managers, or do things to help the business overall. Only the sales numbers matter. Managers have a hard time getting paid because turnover is so high. Management has become obsessed with Amerivest, and is not compromising fiduciary responsibility to clients by changing sales comp on Amerivest as compared to comp on competing offerings. Top talent simply makes more money elsewhere and is treated. Nobody cares about higher education, professional designations, etc--especially not HR, and you WILL NOT be able to leverage them in any salary negotiations. Institutional business has grown so fast and is now the biggest part of TDA now and it's future. Retail takes a back seat. Mass Exodus of the top talent of TDA in 2013 & 2014. Look at a list of top Consultants and Managers from 2013, and you'll hardly see a name left on it in 2015.

    Advice to ManagementAdvice

    Pay your sales people better to keep top talent. A LOT better.

    Doesn't Recommend
    Positive Outlook
  9.  

    Seemed to be a underground culture of people in position of power, abusing power.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Tax Service Representative in Omaha, NE (US)
    Former Employee - Tax Service Representative in Omaha, NE (US)

    I worked at TD Ameritrade as a contractor (less than a year)

    Pros

    Very cool building, excellent cafeteria, neat gym onsite and people there are pretty smart.

    Cons

    I worked for TD Ameritrade through a staffing agency in late 2014 as a Tax Service Representative, and they told us the job usually takes a 6-12 month learning curve. I worked there for 3 weeks, and due to a, "decrease in case load", they let some of us go because we weren't catching on to things as quick as other's. Now, I'm not usually one to complain too much about matter's such as this, but, I felt I wasn't given a fair chance, and was let go due to other reason's than the one given. For example, once again, they told us this job wasn't easy, I TOTALLY understand. In fact, once again, they said the average learning curve is 6-12 months, I was given 3 weeks! Also, the case load did seemingly decrease, but my counter-point is that our job is dependent on client generated problems, which largely depend on problems related to tax season. I worked there in October, I'm assuming to give us adequate time to learn the job before they became really slammed during the months of tax season. The reason of decrease case-load is such bull-crap. We had TONS of computer-generated cases that needed to be resolved, and would've been good practice in preparation for tax season. We're talking thousands of cases. Now, TD Ameritrade probably will have had to hire more new temporary employees by now, to help with the upcoming tax season, who probably aren't as productive as my class, who could've been practicing up till now, would've been. Seemed like a short-sighted decision.

    Advice to ManagementAdvice

    Think about what you're doing, as I noted above, I can almost guarantee you that you will have to hire new people to do this job, and they won't be very good at it at first, just like I wasn't. Then you'll be stuck with underproductive employees during the real busy season. Sure, you could make the argument you could hire people with a bigger background in cost-base analysis, but they won't take the $13.50/hr salary to do this kind of work for long. Be more willing to go through the pains of instructing people how to do the job to your liking, and you won't have to deal with doing the process multiple times over, as I would've been glad to grow with TD Ameritrade.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Investment Consultant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Investment Consultant in San Francisco, CA (US)
    Former Employee - Investment Consultant in San Francisco, CA (US)

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

    Pros

    Positives are that you get a salary and decent benefits. Potential for a decent quarterly bonus. You inherit a book of business which can help you get started.

    Cons

    Employees are treated like telemarketers not investment consultants. Telephone sales calls are recorded and criticized to death. Absolutely zero positive reinforcement. Management finds every possible excuse not to pay out bonus.

    Advice to ManagementAdvice

    Please be clear on what job functions really are. Investment consultant equals telemarketer.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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