Ameritrade Continues To Grow In April; Price Drop In Commissions To Affect Top Line
TD Ameritrade (NASDAQ:AMTD) saw significant growth across its key monthly metrics in April. Interest earning assets, which generate about 45% of the company’s revenues, saw 12% year over year growth. The interest rate hike in March 2017, as well as expectations of additional hikes in the year ahead, have largely driven the growth in interest earning assets.
The brokerage’s trading volumes saw significant growth from the prior year comparable period. However, the decline in trading commissions from $9.99 to $6.95 per trade will largely offset the gains from the surge in trading volumes.
Assets under management have benefited from increasing customer demand for expert financial advice to help manage assets. The digital advisory business, and the company’s focus on newer investment products to meet customer demand, have led to over 15% year over year growth in assets.
See our complete analysis for Ameritrade.
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