Ameritrade Launches Ameritrade Institutional Services.Business Editors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--Oct. 3, 2000 New Ameritrade Service Offers Financial Planners and Advisors $8 Trades Ameritrade Holding Corporation (Nasdaq: AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ), one of the world's leading providers of online brokerage services, today launched Ameritrade Institutional Services (AIS), a new service that will expand its offerings to financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. and advisors. Consistent with Ameritrade's focused and deep strategy, AIS will provide investment professionals with a vehicle to more easily manage their clients' assets and provide better value. The launch of AIS means the estimated 200,000 independent financial planners and advisors operating in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. can now better serve their customers by easily providing online accounts and lower commission fees. "Traditionally, financial planners and advisors have had to pay significant fees to institutional brokerages for their clients' transactions," said Michael Anderson Michael Anderson is the name of:
"AIS is a lower cost alternative to services currently available, which will provide us with additional vehicles in which to serve our clients," said Gregory Rutherford Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. , president of Tagge Rutherford Financial Group. "AIS allows us to pass along savings to our customers which results in greater returns and allows us to give them better customer service." It is estimated that by 2004, half of the 80 million investment accounts in the United States will be conducted by individual investors online, leaving 40 million accounts managed through other brokerage channels, such as financial planners and advisors. Through AIS, Ameritrade offers expanded services to the brokerage industry, which furthers our focused and deep strategy by enabling us to continue to grow profitably while serving our core business. "AIS will increase Ameritrade Holding's overall business, adding more trades per day without generating significant fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). ," said Randy MacDonald Randy MacDonald (born July 26, 1962 in Oshawa, Ontario), is a driver in the NASCAR Busch Series, as well as the car owner of the full-time #72 MacDonald Motorsports car in the Busch Series. He is a veteran of all three major NASCAR Series. , chief financial officer of Ameritrade Holding Corporation. "The investment we have made in technology enables us to focus on our core business while expanding the services we make available to other facets of the brokerage industry." Through AIS, financial planners and advisors are able to manage their customers' accounts. Advisors may conduct either single account transactions or block trades, and AIS will not require advisors to maintain a minimum level of assets or average account value. AIS interfaces with most major professional planner software tools. AIS is also offering free Windows based (1) (Windows-based; upper case "W") Refers to Microsoft Windows. (2) (windows-based; lower case "w") Having resizable windows. Same as "graphics based" or "GUI based." Graphical user interfaces are all windows based. Contrast with text based. account management software for financial planners and advisors. About Ameritrade Holding Corporation (Nasdaq: AMTD) Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online brokerage industry with a 25-year history of providing a customer-focused approach to brokerage services. The company provides brokerage and clearing services to self-directed individual consumer investors and to financial institutions through its subsidiaries. Ameritrade, Inc. (www.ameritrade.com), is a leading online brokerage firm and received Money magazine's highest five-star rating for overall performance(a). Ameritrade, Inc sits comfortably at the top of the Keynote Consumer 40 Internet Performance Index(b), which tracks homepage loading speed. Other subsidiaries of Ameritrade Holding include: Accutrade, Inc. (www.accutrade.com), a brokerage delivering superior levels of personal service and support to its clients; AmeriVest, Inc. (www.amerivestinc.com), a provider of third-party brokerage services and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to commercial banks, credit unions and thrift institutions Thrift institution An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions. ; and Advanced Clearing, Inc. (www.advancedclearing.com), a securities clearing firm providing clearing services to each subsidiary as well as other financial institutions. (a) Best Online Brokers, June 2000 (b) March 19, 2000 - Present |
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