TD Ameritrade swims upmarket

“United Capital's chief executive, Joe Duran, admits that three years ago, he would not have considered putting any of his millionaire clients' money with TD Ameritrade Institutional.

But his firm, which has around $10 billion in assets under management, is now in the midst of transferring some of its largest accounts, each worth about $10 million in assets, to the custodian, which Mr. Duran said has become a clear competitor in the ultrahigh-net-worth space.”

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