"We've considered it, actually, we've looked at it. It's not something that actually clients demand as much as you might think. And on the other hand, it makes intuitive sense, right? If you say, most clients say, I've got an X dollars to invest, as opposed to saying I want to buy a hundred of anything or 200 of anything. So there's some math that people have to do in their head as opposed to saying, I'll put $1,000 in stock. So, going to fractional shares is something that smaller players have done. And we have looked at in the past and we'll consider it as part of our roadmap," Hockey said.
But, if going to fractional shares isn't in the plans for now, how can TD Ameritrade stand out?
"Well, as I explained what I think is the best way to stand out is to actually have the best client experience because there's really, in any industry, there are three ways to compete, okay? You can compete on price. All right? Think of Walmart (WMT - Get Report) . You can beat on product, think of Apple (AAPL - Get Report) , or you can compete on the client experience or service, right? Think of the Ritz-Carlton. So I think great companies are the ones that really choose how they want to compete. Mediocre companies are the ones that try to choose to compete on all fronts and you confuse all your clients. You confuse your associates as to what your actual value proposition is," he said.
Watch the full video above.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below