Potential AdvisorDirect clients should have at least $200,000 in assets to invest. Some financial advisors may have higher minimum asset requirements. There is no charge or obligation for the initial consultation with the advisor. Once you select an advisor you will pay advisory fees and standard brokerage fees. Brokerage transactions executed through TD AMERITRADE are subject to standard transaction charges. You should review an advisor's Form ADV, other applicable advisor disclosure document(s) and the AdvisorDirect disclosure documents prior to engaging an investment advisor. The Form ADV contains important disclosure information relative to an advisor's services and fees. Advisors charge an ongoing investment advisory fee for their services. Advisors will pay TD AMERITRADE fees for their participation in the AdvisorDirect program. Those fees will usually constitute a percentage of the advisory fees you will pay your advisor. For additional details about the fees paid to TD AMERITRADE and other conflicts of interest, please review the AdvisorDirect Disclosure Document and ask your advisor about its specific arrangement with TD AMERITRADE. Please note: Advisors participating in the AdvisorDirect program have met our eligibility requirements and have experience in the financial industry. However, under no circumstances should participation by a certain investment advisor in AdvisorDirect be considered an endorsement or recommendation by TD AMERITRADE for that particular advisor.

Access to Affinity Services Program vendors is provided solely as a service to financial advisors using the brokerage, execution and custody services of TD AMERITRADE Institutional. These services are offered at a discount directly through the participating vendors. Participating vendors are independent and are not employees or agents of TD AMERITRADE. TD AMERITRADE does not guarantee nor are they responsible for the quality or accuracy of any vendor's product or service. In no instance should the listing of a vendor be construed as a recommendation or endorsement by TD AMERITRADE. Furthermore, TD AMERITRADE does not recommend or endorse any security described by any vendor.

There is no one single chart, or multiple charts, you can use to determine whether your brokerage firm is obtaining best execution for your clients. Rather, best execution is a weighing of the competing goals of obtaining the best price(s), as quickly as possible, for the entire amount of a client order. The statistics presented in the videos focus on price improvement, which is one of several measures of execution quality. One of TD AMERITRADE's goals is to achieve high levels of improvement per share on as many orders as reasonably possible. That is how we measure ourself against the competition. Market volatility, volume and system availability may delay account access and trade executions. Price can change quickly in fast market conditions, resulting in an execution price different from the quote displayed at order entry. Execution price, speed and liquidity and account access are affected by many factors, including market volatility, size and type of order and available market centers.TD AMERITRADE is obligated to seek the best price available for your order, taking into consideration the cost of execution and current market conditions, such as the NBBO, volume and liquidity. Price improvement is not guaranteed and will not occur in all situations.
TD AMERITRADE acts as agent. Orders are filled by independent third parties.

This material is designed for a financial professional audience, primarily registered investment advisors. Advisors have not received remuneration for participation in providing these testimonials. Advisor testimonials may not represent the experience of all advisors using TD AMERITRADE brokerage services. The advisors mentioned are not affiliated with TD AMERITRADE Institutional. More information about the advisors is available on the SEC website (www.sec.gov).
TD AMERITRADE Institutional, Division of TD AMERITRADE, Inc. member FINRA/SIPC. TD AMERITRADE is a trademark jointly owned by TD AMERITRADE IP Company, Inc. and The Toronto-Dominion Bank.
(c) 2009 TD AMERITRADE IP Company, Inc. All rights reserved. Used with permission.