When TD Ameritrade reported more than $16 billion in new retirement assets for the last quarter, and $35 billion for the first half of the fiscal year, the company said strong institutional growth was a key factor.
Total new assets for the first two quarters is more than the Omaha-based firm has posted in the first half of any previous year.
Skip Schweiss, president of TD Ameritrade's Retirement Planning division, wouldn't say how much of that record is owed to growth in 401(k) business—the company doesn't itemize that information—but he did say he and is group have spent a lot of energy over the past five years developing products to support its RIA channel in the effort to better position them in the defined contribution space.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
