Ameritrade Discusses the Strategic Importance of Amerivest, Its ETF Managed Account Product (AMTD)
Ameritrade (ticker: AMTD) CEO Joe Moglia described his vision for Ameritrade's future on his Q3 earnings call. Central to that vision is a stronger appeal to long-term investors (versus traders). The product he thinks will give Amertrade access to that market is Amerivest, Ameritrade's managed account using exchange-traded funds (ETFs). This is a critical topic for the brokers and asset managers. Here are key extracts in Mr Moglia's own words:
If… we're going to maximize our potential and accomplish something really significant over the span of the next several years, we're… going to have to be able to focus on long-term growth and we will do that through our client segmentation strategy and our movement from a marketing organization to a marketing and a sales organization.
…we will very much intensify our efforts in the long-term investor area… we think by having a legitimate long-term investor suite of products and services, we will significantly have an opportunity to be able to grow our share of wallet… It will make us more of an asset gatherer…
The movement from marketing organization to a marketing and sales will become apparent over the span of the next 12 months or so... A simple example of what that means is just how we will focus on Amerivest… there will be a much greater effort from the branches and from our investment consultants to sell Amerivest …
We just recently relaunched the Amerivest site. We've added auto-balancing and auto-investing… while this has been our dream and our vision all along, the TD acquisition, frankly, leapfrogs our ability to implement our strategy by several years...
(Quotes are from the CCBN StreetEvents transcript.)
Related:
- Why exchange-traded funds could alter the investment landscape
- Do Funds of ETFs and “Lifecycle Funds�? make sense?
- A list of full conference call transcripts available on the Seeking Alpha Network.
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