Nelson declined to specify whether the firm will utilize its existing relationship with these RIAs. She said the firm has not decided what model it would use for providing broker services, declining to elaborate further. Client segmentation is especially key during times of market volatility, Nelson explained. Jason Lind, analyst at U.S. Bancorp Piper Jaffray, said many of Ameritrade's recent moves, including its forays into direct access trading and HNW-oriented services, underscore the need for the firm to branch out and catch up with other online brokerages. He said HNW has never been a core segment for Ameritrade, but the firm's asset allocation and advisory service will help retain its small number of affluent clients.
Securities also have strong offerings for the group.
Nelson said the firm is striving to increase its average asset size per account with the new offering, but declined to provide a target. The asset allocation package will include Web-based tools which HNW individuals can access on the firm's site . Nelson said the firm has not yet determined the timing of the rollout. The firm is also still determining the pricing for Ameritrade Plus, said Nelson. She said a national advertising campaign will follow after the products launch, declining to specify the channels that the firm will tap for the campaign.