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Surprise at Hockey departure

Aug 05, 2019 - InvestmentNews

Financial advisers are stunned by the sudden announcement of Tim Hockey's intention to step down as CEO of TD Ameritrade Holding, wondering what changes it portends for the firm's custodian business.

Though Mr. Hockey joined TD Ameritrade after 32 years with TD Bank Group, he won favor with registered investment advisers for promising the firm will not push direct-to-consumer wealth management that competes with RIAs.

"Tim Hockey was, in our mind, an advocate for the independent advi...