Just two days after the close of iTD Ameritrade Institutional's annual gabfest, Tom Bradley, the president of the institutional unit, was named head of TD Ameritrade Holdings' (Ticker: AMTD) retail distribution unit. Succeeding him will be Tom Nally.
Bradley, a charismatic and 20-year veteran of the RIA space, enjoyed some great success at TDA Institutional (TDAI). AUM at RIAs affiliated with TDAI are now around $160bn, Bradley told me at the TDAI annual conference last week. Average TDAI RIAs average about $100m in AUM, an impressive benchmark. For more, please go to RepTV for my onsite interview with Tom Bradley.
Here are the congratulatory bits from the company announcement, isssued after market hours:
“Tom Bradley has been a strong member of the TD Ameritrade management team for many years,” said Fred Tomczyk, president and chief executive officer. “He understands our company, and the industry, and is widely respected for his work supporting RIA advocacy and development. He has grown TD Ameritrade Institutional into a major player in the fastest growing segment of financial services by expanding technology and product offerings and putting clients first. I am confident that he will put his broad knowledge base and determined management style to good use within our retail client organization.”
“My time spent working for independent RIAs, helping them better serve their clients and create successful practices, and supporting the issues that are important to them on a national scale, has been a joy and a privilege,” said Tom Bradley. “I am fortunate to have created a number of meaningful relationships that I hope will continue as I move on to the next chapter in my career. I look forward to guiding our retail sales, service and product businesses in a similar capacity and building an even better experience for our clients.”
"With this change, the Company has appointed Tom Nally to replace Bradley as president of TD Ameritrade Institutional. Nally, who has been with the Company since 1994, served as a 12-year veteran of Bradley’s management team and most recently oversaw all aspects of the business unit’s sales. He and his team were responsible for developing new RIA relationships and delivering practice management solutions that assist RIAs in achieving their strategic business objectives. Nally has held a variety of positions for the firm and has had responsibility for, among other things, trading, fixed income, advisor relations, client service, advisor technology, account services and operations serving the more than 4,000 independent RIAs who custody assets with TD Ameritrade Institutional."
“I can’t be more excited about the future of TD Ameritrade Institutional with someone like Tom Nally at the helm,” Bradley continued. “He, too, has dedicated the better part of his career to advisors – building relationships, putting clients first and always asking how we can better help advisors succeed. We have worked together for nearly 20 years. I cannot imagine our associates or advisor clients in better hands.”
According to the press release, Bradley replaces John Bunch, president of retail distribution, who has resigned his position, effective as of Feb. 10, 2012. Bunch, who had been with the AMTD since 2004, leaves to take the top leadership role at an investment advisory firm.
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to over 4,000 fee-based, independent registered investment advisors and their clients.