Joe Moglia, CEO of Ameritrade Holding Corp., announced October 3 that Tom Bradley will head the advisor services business at TD Ameritrade, the company to be formed by the merger of TD Waterhouse’s U.S. operations and Ameritrade Holding. Bradley, who has been president of TD Waterhouse Institutional, will assume his new position effective with the closing of the merger, which he said is likely to take place by the end of this year or the beginning of 2006. “We’re full steam ahead in the integration planning right now,” Bradley said.
Bradley said he was “really excited about the two companies coming together,” and about the “great service we will continue to provide for advisors. The future is bright.” When asked about his priorities, Bradley said “we want to make sure that this integration is completely seamless to advisors and their clients.” While he said it was “highly likely that we will be changing back offices,” he pledged that it would be transparent to advisors. He said “we will continue on the Veo platform, but we intend to take some really great pieces of technology that Ameritrade has on their side and plug that into Veo to make it even better.”
At the time of the merger’s announcement on June 22, some 2,600 advisors were custodying $41 billion in assets at TD Waterhouse Institutional, while Ameritrade had 1,400 affiliated advisors with $4.1 billion in assets. Then, the company said the closing could take six months to complete.
Moglia also announced that another TD Waterhouse executive, John Bunch, will head the TD Ameritrade branch network and investment centers. Bunch currently oversees TD Waterhouse’s 140 retail branches in the U.S. Finally, Moglia said Waterhouse’s Jersey City, New Jersey, call center will be shuttered following the merger’s close, with jobs relocated to the Fort Worth, Texas, Ameritrade call center.