TD Waterhouse Institutional’s advisor assets increased 35% in 2004, to $35 billion, and are forecast to grow by 31% in 2005, President J. Thomas Bradley Jr. told the firm’s annual Partnership conference in San Diego. By 2007, Waterhouse expects assets to nearly double, to between $66 billion and $70 billion, he said. Based on figures disclosed by Bradley and confirmed by Tim Pinnington, CEO of TD Waterhouse USA, the advisor unit produced about $90 million to $100 million in revenue in 2004 and is expected to produce between $120 million and $130 million this year.
Bradley released the statistics on February 3 to a packed house at the Waterhouse conference. The firm reported that a record 800 advisors attended the show.