TD Ameritrade: Difference between revisions

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===TD Ameritrade and the Reserve money funds===
The firm's customers were approached by TD Ameritrade brokers and recommended to invest their liquid money in a [[money fund]] managed by [http://www.ther.com/ The Reserve], RYPQX (the Reserve Yield Plus Class R fund), according to investors in the fund.<ref name="chicagotribune.com">{{cite web|url=http://www.chicagotribune.com/business/chi-sun_ameritradenov02,0,2889608.story?page=1 |title=Fund losses fuel customers' anger; Revenue-sharing deal raises questions of conflict |publisher=Chicagotribune.com |date= |accessdate=2013-06-27}}</ref><ref>[http://www.omaha.com/index.php?u_page=1208&u_sid=10474987 Money]. Omaha.com (2013-07-02). Retrieved on 2013-07-12.</ref><ref>[http://money.cnn.com/news/newsfeeds/articles/djf500/200812081526DOWJONESDJONLINE000551_FORTUNE5.htm Getting Personal:Reserve Payout Won't Deter Suit, Lawyers Say]{{dead link|date=June 2013}}</ref><ref>{{cite web|url=http://online.wsj.com/article/SB125271240924905153.html |title=Reserve Yield Plus Investors in SEC Plea |publisher=Online.wsj.com |date=2009-09-12 |accessdate=2013-06-27}}</ref> More than 98% of the fund had been sold to TD Ameritrade's clients, as disclosed in a statement from the Reserve on July 29, 2008.<ref>[http://www.reservefunds.com/pdfs/saiyplus.pdf Statement of Additional Information Reserve Yield Plus Fund of Reserve Short-Term Investment Trust]</ref>{{Synthesis-inline|date=March 2009}} When the fund [[break the buck|broke the buck]] along with several other Reserve [[money fund]]s in September, 2008, money assets of thousands of TD Ameritrade clients (including many senior citizens) were frozen. For the larger [[Reserve Primary Fund]] that also broke the buck, TD Ameritrade said it will reimburse clients for up to a 3% loss. Other Reserve funds, such as the Interstate Tax Exempt Fund, were sold by TD Ameritrade, and were caught up in the Primary Fund's Failure, leaving investors in these funds without liquidity. However, the Reserve Yield Plus fund previously marketed by the company is not covered by the offer.<ref>{{cite web|url=http://sbk.online.wsj.com/article/SB122228106964372005.html |title=Ameritrade to Make Clients Whole on Primary Fund |publisher=Sbk.online.wsj.com |date=2008-09-25 |accessdate=2013-06-27}}</ref>
<ref>{{cite web|url=http://www.tdameritrade.com/reservefund/support.html |title=TD Ameritrade Support for Primary and International Fund holders |publisher=Tdameritrade.com |date= |accessdate=2013-06-27}}</ref>