“NEW YORK (Reuters) – TD Ameritrade Holding Corp , the biggest broker for active individual traders, said that client assets in February crossed the $500 billion threshold as the firm seeks to offset flaccid commission income with asset-based fees.
The announcement on Monday accompanied the Omaha-based discount broker’s report that client trades in February were essentially flat with January and down 6 percent from February of 2012. The firm’s chief financial officer last week signaled that client trades would track the broader market, where stock trading inched up 2 percent while stock options trading fell by the same amount.
TD Ameritrade’s flaunting of its half-trillion dollar asset milestone mirrors rival Charles Schwab Corp’s announcement last month that its client assets at the firm passed the $2 trillion level. Schwab has not yet announced its clients’ trading metrics for February, but they generally make fewer average daily trades than TD Ameritrade’s clients….”
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