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TD Ameritrade Client Assets Uptick in Q3 

The TD Ameritrade Holding Corporation has released its financial results earlier today for the third quarter of its fiscal year 2020. This reveals a solid uptick in net new client assets.

During the third quarter, ending on the 30th of June,  2020, TD Ameritrade achieved net new client assets of $33B. This represents an uptick of 11 percent against the previous year.

Breaking it down, 61 percent of the $33 billion is retail assets and 39 percent are institutional.

In Q3 of fiscal 2020, the US-headquartered broker has recorded new funded retail accounts of 661,000. In addition, there are the daily average revenue trades (DARTs) of 3.4 million, a statement from the company said.

Total client assets by the end of the third quarter there was $1.5 trillion. Net revenues came in at $1.6 billion across the three-month period. Income from Pre-tax GAAP was $753 million, or 47 percent of net revenues.

 

TD Ameritrade’s “Exceptional Results”

Steve Boyle is the interim president and chief executive officer. He said their results were exceptional. They’re very pleased with the growth in clients and assets.

This indicates the strength of their value proposition in an ‘all else equal’ marketplace.

Earnings have increased year-over-year despite the move to zero for most trades and zero interest rates. They again delivered double-digit net new client asset growth. This reflects the appeal of their offerings to both retail and institutional clients.

In the quarter, they launched “thinkorswim” Web with access to equity and derivative trading from any modern internet browser. This fulfills clients’ desire to access their award-winning trading technology with a fully synchronized experience on any device, and anywhere.

With one quarter still to go, they are approaching 2 million new funded accounts fiscal year-to-date. This is breaking their previous record of 1.3 million new funded accounts in the fiscal year of 2018.

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