TD Ameritrade Gathers A Record $16 Billion In Net New Client Assets

TD Ameritrade Holding Corporation (NYSE: AMTD) has released results for the first quarter of fiscal 2013. The Company gathered record net new client assets of $16 billion – a 13 percent annualized growth rate – up more than 50 percent from the same quarter a year ago.

The Company’s results for the quarter ended Dec. 31, 2012 include the following: ⁽¹⁾

• Net income of $147 million, or $0.27 per diluted share
• Record net new client assets of approximately $16 billion, a record annualized growth rate of 13 percent
• Average client trades per day of approximately 334,000, an activity rate of 5.8 percent ⁽²⁾
• Net revenues of $651 million, 58 percent of which were asset-based
• Record market fee-based revenue of $55 million, up 28 percent year-over-year
• Pre-tax income of $237 million, or 36 percent of net revenues
• EBITDA of $286 million, or 44 percent of net revenues ⁽³⁾
• Record interest rate sensitive assets ⁽⁴⁾ of $90 billion, up 14 percent year-over-year
• Client assets of approximately $481 billion

“Record net new client assets of $16 billion and earnings per share of 27 cents is a significant achievement in this environment, and a strong start to our fiscal year,” said Fred Tomczyk, president and chief executive officer. “In the face of continued investor uncertainty, we maintained our strong organic growth momentum and had record sales of guidance and advice solutions, all while keeping our expenses in check.”

“TD Ameritrade continues to benefit from strong organic growth and disciplined management of our balance sheet,” said Bill Gerber, executive vice president and chief financial officer. “Our record organic growth this quarter helped grow interest rate sensitive assets to a record $90 billion, up 14 percent from last year, leaving us even better-positioned for rising interest rates. In addition, market fee-based revenue is up 28 percent year-over-year, driven by our effective referral and sales processes. We remain focused on maintaining our momentum as we move forward.”

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