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TD Ameritrade CEO Fred Tomczyk on his company's plan for growth and the 'Occupy Wall Street' movement.
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Coming out of Europe but.
What's next that is gonna be our question between now and the end of the year when we have a CEO on as a guest and today of course we do have the markets up big but the economy is.
Is still struggling and we've been -- a deep recession.
Now we're in recovery but the recovery is so I'm going along -- an incredibly slow pace so what's next.
Fred Thompson's TD Ameritrade president -- joins -- -- an exclusive interview from the TV -- conference which they are holding.
In Washington DC.
This -- doctor thank you very much for coming on and from the point of view of your business what is next.
-- for us what's next is more of the same throughout this crisis since it started in 2008.
You know we've had a strong balance sheet we had a good business model we've been investing and growing as fast as we kind of taken advantage of the dislocation in the market.
Another look forward from today it's going to be more of the same we're gonna continue to invest in growth.
-- last year we had record -- gathering -- trading.
You know -- when you get to this kind of environment you have to continue to make.
Sure you focus on the customer.
You know you focus on what you can control your business fundamentals.
And build your business for the long term because that's all you can -- -- this type of environment.
To that extent I can ask about a couple of -- -- at the market environment which I will in a moment the when you say invest -- growth.
Do you mean hire people because we have not percent unemployment in this country and it's always interesting to see what a CEOs attitude about hiring yes.
-- all over the last few years we've got an over a thousand people through our farm payrolls.
As we've been -- and we've grown our go organic growth rate has been.
Double digit now for three years in almost -- -- -- that people.
Archer groan about it salespeople without its servers people.
There's -- a technology people as we look forward from here you know the interest rate environment certainly have an impact on us.
The economy continues to be uncertain and on the poll are just too much and -- brand but going forward we will get some more selective on our hiring and more focus on.
Our technology and process management to make sure we keep our expenses and control.
It is an interesting time to be in and -- business is it any way related to what you do is any way.
Related to financial services because you know people are or are angry to -- stemming the protesters industry said that.
The professor on from Columbia Jeffrey sensitive exactly have complimentary things to say about Wall Street or anybody related to it.
What do you make of all that.
All I can certainly understand the frustration of people today.
You know what's happened here in the crisis.
And these images of Wall Street I think is much more Wall Street become amount of -- -- anger for people for what they've gone through what they're feeling right now we have.
High unemployment.
Those who disparity between rich and -- widen.
Until people are feeling very good and -- -- and I understand that and documents.
I can sympathize went back.
With respect to watch that we look at ourselves when we had this crisis we start off we've -- our clients were the first ones to stop on the reserve fund.
We bought back the auction rate securities we didn't wait to get an argument like point fingers we just put up -- -- what was right for our clients and our company.
-- is just a 32 answer we're gonna check the global markets again everybody's crazy about what happened in Europe that their name.
I -- they solved everything you feel that way.
I'm very much are really -- haven't seen the details yet.
But there's no question right now about what's overhanging the markets -- hoping -- overhanging.
Customer -- investor sentiment.
Once Europe and -- that gets all the gets through -- -- -- be a big relief to all of us that's for times -- from non TD Ameritrade joining us live in now -- double check those.
