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    Richard Repetto

    Research Analyst at Sandler O'Neill + Partners, L.P.

    Richard Repetto's questions to AMTD IDEA (AMTD) leadership

    Richard Repetto's questions to AMTD IDEA (AMTD) leadership • Q3 2019

    Question

    Richard Repetto of Sandler O'Neill + Partners asked how TD Ameritrade's strategy might change and why the current strategy would necessitate a leadership change.

    Answer

    President, CEO & Director Timothy Hockey clarified that the Board has approved the current strategy and there is no change in direction. He stated the focus is on more expeditious execution of their winning strategy, especially given the challenging industry environment.

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    Richard Repetto's questions to AMTD IDEA (AMTD) leadership • Q2 2019

    Question

    Richard Repetto from Sandler O'Neill questioned why the typical quarterly increase in marketing spend didn't occur and asked for an update on revenue synergies from the Scottrade acquisition, particularly regarding the increase in derivatives trading.

    Answer

    President and CEO Tim Hockey explained that marketing spend is calibrated to retail engagement; since engagement was lower, they pulled back on spend to maintain efficiency. Regarding Scottrade, Hockey stated they are very pleased with revenue synergies, feeling they are about a third of the way to their five-year, $300 million-plus goal. He noted that wallet deepening is a longer-term process but overall progress is strong.

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