|
|
Article: New service agreement at TD Ameritrade causes flap; Advisers stirred up because contracts arrived during tax time.(News)
- Article from:
- Investment News
- Article date:
- May 7, 2007
CopyrightCOPYRIGHT 2007 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)
|
Byline: Brooke Southall
SAN FRANCISCO - Amid protest from its advisers that they are being asked to assume too much liability, TD Ameritrade Institutional is going back to the drawing board with its new service agreement.
The Jersey City, N.J.-based custodian will collaborate with advisers to draft a new agreement, a process that is likely to take months, said company spokeswoman Diana DeSocio.
The move comes after TD Ameritrade Institutional found itself deluged by telephone calls from advisers who were upset by the wording and the timing of the new agreement, which was supposed to have gone into effect April 30.
In circulating the ...