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TD Ameritrade Delivers 4th Consecutive Year Of Double-Digit Net New Client Asset Growth Rate

Stocks in this article: AMTD

TD Ameritrade Holding Corporation (NYSE: AMTD) has released results for fiscal 2012. Despite a continued difficult economic environment, the Company gathered $41 billion of net new client assets, maintaining its industry-leading, double-digit net new client asset growth rate for the 4 th consecutive year.

The Company’s results for the fiscal year ended Sept. 30, 2012 include the following: (1)

  • Net income of $586 million, or $1.06 per diluted share
  • Average client trades per day of approximately 360,000, an activity rate of 6.3 percent (2)
  • Net new client assets of $41 billion, an annual growth rate of 11 percent of beginning client assets
  • Net revenues of $2.6 billion, 56 percent of which were asset-based
  • Pre-tax income of $906 million, or 34 percent of net revenues
  • EBITDA of $1.1 billion, or 42 percent of net revenues (3)
  • Record interest rate-sensitive assets of $83 billion (4)
  • Record client assets of approximately $472 billion, up 25 percent year-over-year

“In each of the last four years, TD Ameritrade has delivered industry-leading, double-digit growth in asset gathering,” said Fred Tomczyk, president and chief executive officer. “In 2012 we grew total clients assets to a record $472 billion, up 25 percent year-over-year. We gathered $41 billion in net new client assets, an annual growth rate of 11 percent. We maintained our industry-leading position and again grew our market share in trading. And, we continued to make strategic investments in our client offering. We remain focused on what we can control, executing our strategy and building our long-term earnings power.”

“We’re proud of our financial performance given the challenging operating environment,” said Bill Gerber, executive vice president and chief financial officer. “We have increased our quarterly dividend by 50 percent to 9 cents, and we will continue to take a disciplined approach to expense management and process improvement. We remain optimistic for the long term given our business model, dedicated associates and growth momentum.”

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