Mediocre Results

[RetireAge50]

Got a call from TD Ameritrade about my holdings there. I have a rollover IRA and a Roth account both of which are invested in Vanguard index funds.

He was encouraging me to have a professional take a look to see if they could make suggestions. I was not interested but was curios what prompted them to call. I always thought they were a brokerage which let's individuals make their own decisions.

I explained that this was only part of my invested assets and that I tended to favor low cost index funds. I asked him if they were selling something and he said they were somehow affiliated with Ameriprise.

I thanked him for calling and he seemed upset and ended by saying he hoped I was happy with mediocre results.

Maybe it is finally time for me to move the accounts. Anyone else get basically a sales/guilt pitch from their non full serve broker?

 

[Dimsumkid]

I got a call from the yesterday RE:a stock split, normally they don't tell you anything. This is a first from them and they also asked if I needed help with anything else and not hesitate to call. Seems like they're amping up the service part. They didn't try to sell me anything this time.

 

[REWahoo]

...he seemed upset and ended by saying he hoped I was happy with mediocre results.

Makes you wonder if he's equally as professional in managing your money, eh?

 

[LOL!]

We have had a TDAmeritrade (nee TDWaterhouse) discount brokerage account for about 20 years now.

Our account is essentially in set-and-forget mode with a one or two trades a year. We have Vanguard ETFs there, so no commissions for TDAmeritrade unless we do some short-term trading.

TDAmeritrade doesn't call us although I go into the local office about once a year to turn in a form to donate shares to charity.

They are NOT associated with Ameriprise, so I don't understand that bit in the OP. Maybe it was an Ameriprise rep fishing for info and clients?

 

[Fermion]

My taxable brokerage account was up 47% in 2013 so I would love to get one of those calls telling me about my mediocre results.

 

[braumeister]

Got a call from TD Ameritrade about my holdings there.
...
he said they were somehow affiliated with Ameriprise.
...
he hoped I was happy with mediocre results.

Honestly, I find that just about incredible.
If I were you, I would google his name and see what people might be saying about him. I would also move my account somewhere else, and let his manager know why.

 

[Meadbh]

I don't believe these two firms are affiliated. I suspect you are being trolled. Some unethical adviser is trying to get your business and earn large commissions from you.

 

[travelover]

.........and ended by saying he hoped I was happy with mediocre results.

Maybe it is finally time for me to move the accounts. ...........

I'd call Mr. Mediocre's boss and tell him why you moved your account.

 

[powerplay]

I'm not sure if OP's call was legitimate or not.

Yesterday my investment club treasurer received an e-mail from TdAmeritrade which we use for our brokerage. The e-mail was fairly lengthy and has a lot of investing blah blah blah in it. The rep signed it as 'investment consultant' below his name. Our treasurer also had a followup phone call from the rep who said he realized we were an investment club and wanting to know if we wanted to meet with him.

They seem to be reaching out and I suspect they are trying to sell us something.

I have a personal account with TdA and have had a phone call or two over time which I have never returned. My account is quite a bit smaller than my investment club's account so maybe I'm not a big target for this operation.

 

[MRG]

I don't believe these two firms are affiliated. I suspect you are being trolled. Some unethical adviser is trying to get your business and earn large commissions from you.

+1
They have different business models. I'd call TD AMERITRADE to let them know. Maybe a data breach?
MRG

 

[jebmke]

We don't answer any calls from anyone we don't know. Saves a lot of time.

 

[LOL!]

I had another thought on this. It is possible that the caller no longer works for TDAmeritrade, but now works for Ameriprise. They may have taken a list of TDAmeritrade client contact info in order to use it to drum up business.

This kind of thing was pretty standard practice when brokers moved from one firm to another: They would ask their clients to switch and follow them to their new firm.

 

[robnplunder]

I have E*trade and they kept calling me to offer their professional service. One day, I've got fed up and told them that I will move my E*trade account to Fidelity or Ameritrade if they keep calling me. I never got a call from them again.

 

[MichaelB]

I thanked him for calling and he seemed upset and ended by saying he hoped I was happy with mediocre results.

Maybe it is finally time for me to move the accounts. Anyone else get basically a sales/guilt pitch from their non full serve broker?

Agree with the other opinions this is totally out of line and doesn't sound like TDA. If you have callerid maybe you can track the number to see who owns it.

I had another thought on this. It is possible that the caller no longer works for TDAmeritrade, but now works for Ameriprise. They may have taken a list of TDAmeritrade client contact info in order to use it to drum up business.

This sounds possible, also against the law. The "mediocre results" comment is boiler room stuff. If you have their number you can file a complaint with your State Attorney General.

 

[target2019]

Got a call from TD Ameritrade about my holdings there. I have a rollover IRA and a Roth account both of which are invested in Vanguard index funds.

He was encouraging me to have a professional take a look to see if they could make suggestions. I was not interested but was curios what prompted them to call. I always thought they were a brokerage which let's individuals make their own decisions.

I explained that this was only part of my invested assets and that I tended to favor low cost index funds. I asked him if they were selling something and he said they were somehow affiliated with Ameriprise.

I thanked him for calling and he seemed upset and ended by saying he hoped I was happy with mediocre results.

Maybe it is finally time for me to move the accounts. Anyone else get basically a sales/guilt pitch from their non full serve broker?

It sounds like salesperson moved from TD to Ameriprise, and took account contact information with them. If you have the name and number of the caller, you might want to pass that along to TD. It's also possible that this was the result of another party passing along your information.

 

[jollystomper]

It sounds like salesperson moved from TD to Ameriprise, and took account contact information with them. If you have the name and number of the caller, you might want to pass that along to TD. It's also possible that this was the result of another party passing along your information.

+1. TD Ameritrade and Ameriprise are rivals. As others have said, contact TD Ameritrade ASAP about this.

 

[easysurfer]

Did the caller refer to the OP by his account number? Or just in general and was doing some phishing? If the latter, seems similar to a scammer saying he's from the utility company doing a check in the home.

In either case, the caller, if he's legit probably invests his own money in index funds anyhow

 

[Cat-tirement]

Might he have said Amerivest rather than Ameriprise?

I have had a TD Ameritrade account for a few stocks since before they added the TD. A few years ago, I had a previous employer 401k that I wanted to roll into an IRA, and someone at TD Ameritrade persuaded me to put it in one of their "Amerivest Managed Investment Portfolios". Perhaps that was being pitched to the OP.

(After three years of paying extra fees for under-performance in the Amerivest account, I moved it to Vanguard.)

 

[RetireAge50]

Thanks for replies. Confirmed the caller was in fact from TD Ameritrade. Also the advisory service he was pushing was Amerivest not Amerprise (sorry, I must have heard it wrong).

Looks like Amerivest is a subsidiary of TDA with some different fees.

In any event, I asked them to not call me in the future. I prefer to seek advice not be sold.

By the way, my mediocre returns with this account have averaged 9.6 percent over the last 11 years and I only experienced about half the hit of the overall market in 2008. Mostly index funds and some covered call writing. So I am happy enough with my results.

 

[jim584672]

I have had TDAmeritrade call me in the past. They were inquiring what I was doing with my money (since it was in cash). I have had it happen a few times. I told them not to call me, which works for a while, but eventually the calls start again.

They are crazy for doing this. I want a discount broker (NO ADVICE!). One more call and I am out of there.

 

[easysurfer]

I have had TDAmeritrade call me in the past. They were inquiring what I was doing with my money (since it was in cash). I have had it happen a few times. I told them not to call me, which works for a while, but eventually the calls start again.

They are crazy for doing this. I want a discount broker (NO ADVICE!). One more call and I am out of there.

All the more reason I prefer to DIY. Otherwise, the arrangement feels like they are fighting over my money