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Article: TD Ameritrade feeling like a billion; Adding Edelman said to signal its growing success.(News)
- Article from:
- Investment News
- Article date:
- June 12, 2006
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Brooke Southall
SAN FRANCISCO - TD Ameritrade Institutional marked its first major victory as a merged entity by winning a large account, and it is becoming a primary custodian for other advisers who count their assets in the billions.
The Jersey City, N.J.-based asset custodian got the nod as the primary custodian for the fee-only assets of Edelman Financial Services Inc., putting an exclamation point on a series of similar coups that would have been unthinkable even a couple of years ago. Edelman, based in Fairfax, Va., advises about $3 billion.
"We've really put ourselves on the map'' by winning Edelman's account over rivals, said J. ...