TD Ameritrade has launched the ETF Market Center for retail investors and independent registered investment advisers.
It includes a list of ETFs from a variety of providers that have been evaluated and selected by investment consultants at Morningstar Associates.
“We worked with independent experts to create an objective list of ETFs focused on long-term investing. Morningstar Associates considered all ETF providers, and neither TD Ameritrade nor Morningstar Associates will receive any incentive from those firms, for inclusion on the list,” says Fred Tomczyk, president and chief executive officer of TD Ameritrade. “We’re taking a better and more client-focused approach to helping our clients build long-term portfolios.”
The ETF Market Center includes a number of online ETF-focused enhancements, including an ETF screener, ETF data and independent research and commentary from Morningstar to help investors learn more about ETFs, determine whether ETFs fit their needs and create well-diversified, long-term portfolios.
“We want to help investors build long-term portfolios more cost effectively,” Tomczyk adds. “We have a very popular no-transaction fee mutual fund offering, and as ETFs continue to grow in popularity and diversity, this was a natural progression for us. It’s an incredible opportunity to help educate long-term investors about ETFs and portfolio diversification.”
Once enrolled in the programme, clients can buy and sell shares of the ETFs on the list commission-free. Should a client sell an ETF purchased under the program and held less than 30 days, a short-term trading fee will be assessed.