7. This document contains forward-looking statements within the meaning of the federal securities laws. We
intend these forward-looking statements to be covered by the safe harbor provisions of the federal
securities laws. In particular, any projections regarding our future revenues, expenses, earnings, capital
expenditures, effective tax rates, client trading activity, accounts or stock price, as well as the assumptions
on which such expectations are based, are forward-looking statements. These statements reflect only our
current expectations and are not guarantees of future performance or results. These statements involve
risks, uncertainties and assumptions that could cause actual results or performance to differ materially from
those contained in the forward-looking statements. These risks, uncertainties and assumptions include, but
are not limited to: general economic and political conditions and other securities industry risks, fluctuations
in interest rates, stock market fluctuations and changes in client trading activity, credit risk with clients and
counterparties, increased competition, systems failures, delays and capacity constraints, network security
risks, liquidity risks, new laws and regulations affecting our business, regulatory and legal matters and
uncertainties and other risk factors described in our latest Annual Report, as amended, on Form 10-K/A,
filed with the SEC on Feb. 4, 2013, and our latest Quarterly Report on Form 10-Q filed thereafter. These
forward-looking statements speak only as of the date on which the statements were made. We undertake
no obligation to update or revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent required by the federal securities laws.
9. 2012 Strategy:
1. Maintain strong organic growth momentum
2. Develop a third revenue stream
3. Focus on process and expense management
4. Adapt IDA investment strategy to the environment
5. Maintain a strong balance sheet and return of capital strategy
2012 Objectives:
1. Continue building long-term earnings power
2. Return or deploy capital to further enhance shareholder value
10. Refreshed brand and advertising
– Updated look/feel
– 2012 U.S. Olympic Team Sponsor
New Marketing web site and account
opening process
Client Satisfaction at 90%
– Retail & Institutional
Continued innovation
– New thinkorswim &Trade Architect®
features
– Redesigned TD Ameritrade mobile app
– Improved and expanded AmerivestTM
offering
– Veo®
Open Access
– Options Market Center
11. 355
Average Client Trades Per Day (K)
Forecasted Range (K)
% Derivatives(2)
of Total
14%
28%
32%
36%
Fiscal 2012
– Activity rate 6.3%
– Continued derivatives(2)
growth
– Mobile nearly 8% of DARTs
Fiscal 2013 Outlook
– Continued growth in derivatives(2)
– Enhanced trading capabilities for RIAs
– Investor Movement IndexSM
(1) Source: Internally estimated daily average revenue client trades (DARTS) based on last
twelve months publicly available reports for E*Trade Financial and Charles Schwab.
(2) Derivatives include options, futures and foreign exchange (Forex) trades per day.
(3) Funded account activity rate (AR%). Average client trades per day during the period
divided by the average number of total funded accounts during the period.
(4) Pro-forma combined with thinkorswim: funded activity rate (trades per day): FY09 - 8.1%
(419K); % Derivatives (trades per day): FY09 - 20%.
(5) FY13 forecast per 10/29/12 outlook statement.
7.3%(4)
6.9% 7.2% 6.3% 6.0-7.0%Activity
Rate(3)
(5)
12. $33
NNA ($B)
Forecasted Range ($B)
Fiscal 2012
– $160M/day on average
– Strong growth in Retail & Institutional
– Strong cross-selling internally and via TD
Bank(3)
partnership
– Strong Breakaway Broker trends
Fiscal 2013 Outlook
– Maintain momentum
– Expand retail distribution capacity
– Continue improving Institutional offering
– Develop new channels of growth
(1) Net new assets (NNA) consists of total client asset inflows, less total client asset outflows,
excluding activity from business combinations. Client asset inflows include interest and
dividend payments and exclude changes in client assets due to market fluctuations. Net
new assets are measured based on the market value of the assets as of the date of the
inflows and outflows.
(2) FY13 forecast per 10/29/12 outlook statement.
(3) TD Ameritrade, Inc. and TD Bank, N.A. are affiliated through their parent companies.
(4) NNA growth rate is annual net new assets as a % of client assets as of the beginning of
the period.
10% 11% 12% 11% 7-11%(2)Annual
Growth
Rate(4)
(1)
13. $220
Market Fee-Based Revenue ($M)
Forecasted Range ($M)
Fiscal 2012
– “Appetite” for guidance and advice
– Increased distribution capacity
– Principal sources:
AmerivestTM
AdvisorDirectTM
Mutual Funds
Fiscal 2013 Outlook
– Revenue target: 15-25% annual growth
– Enhanced product set, sales, process and
training
– AmerivestTM
/AdvisorDirectTM
now aligned with
target markets
(1) Investment product fee revenue less money market mutual fund revenue.
(2) FY13 forecast per 10/29/12 outlook statement.
CAGR: 36%
(2)
14. Lean Methods to remove obstacles
– 1/3 of Associate base
– 700 improvement opportunities solved
– Better referrals, service
– New resources to reinvest in growth
Expenses flat from Fiscal 2011
– Down $8M year over year
– Q4 2012 down 5% from Q4 2011
– Q1 2013 down 4% from Q1 2012
2013 Outlook
– Continued expansion of Lean
– Renewed focus on sourcing
– Maintain tight expense management and
self-fund investments in the future
15. 20%
40%
60%
80%
100%
120%
140%
Net Income Returned/Deployed (%)
Fiscal 2012
– Target: 40-60% of net income
– Increased dividend by 20%
– 56% returned to shareholders
$196M to buyback 2% outstanding shares
$132M to pay $0.24/share in cash dividends
Fiscal 2013 Outlook
– Increased dividend by 50%
– Paid special cash dividend of $0.50/share
– Maintain flexibility
(1) Cash used for M&A, debt repayments, share repurchases and dividends divided by net
income. Excludes shares repurchased for payroll taxes or equity award distributions..
(1)
16. -80%
-60%
-40%
-20%
0%
20%
40%
S&P 500
+10%
AMTD
+13%
Peer Group
-55%
Source: Bloomberg. Last 5 years for period from 9/28/2007 to 1/31/2013.
Returns represent total daily shareholder returns including dividends (assumes dividends are reinvested).
Peer group includes Schwab & E*Trade. Weighting assumes equal dollar investment at the beginning of the period.
17. -60%
-40%
-20%
0%
20%
40%
60%
Last 3 Years, Period Ending 1/31/13
S&P 500
+52%
AMTD
+5%
Peer Group
-24%
Source: Bloomberg. Last 3 years for period from 9/30/2009 to 1/31/2013.
Returns represent total daily shareholder returns including dividends (assumes dividends are reinvested).
Peer group includes Schwab & E*Trade. Weighting assumes equal dollar investment at the beginning of the period.
18. -10%
10%
30%
50%
-10%
0%
10%
20%
30%
40%
50%
S&P 500
+30%
AMTD
+6%
Peer Group
+6%
Source: Bloomberg. Last 12 months for period ended 9/30/2012.
Returns represent total daily shareholder returns including dividends (assumes dividends are reinvested).
Peer group includes Schwab & E*Trade. Weighting assumes equal dollar investment at the beginning of the period.
19. 2013 Strategy:
1. Maintain strong organic growth momentum
– Asset Gathering
– Trading
2. Grow third revenue stream: Market Fee-based Revenue(1)
3. Remain disciplined on expenses while investing in future
4. Maintain a strong balance sheet and robust return of capital strategy
2013 Priorities:
1. Continue building long-term earnings power
2. Return or deploy capital to further enhance shareholder value
(1) Investment product fee revenue less money market mutual fund revenue.
20. Diluted earnings per share (EPS) of $0.27
Average client trades per day of 334,000 (387,000 in January ‘13)
Record net new assets(1)
of $16B, record annualized growth rate(2)
of 13%
Record market fee-based revenue(3)
up 28% year-over-year
– Bolstered by record guidance and advice solution sales
Total operating expenses down 4% year-over-year
Capital deployment:
– $250M debt repayment upon maturity
– $273M special dividend ($0.50/share) funded with revolving credit line
– $49M quarterly dividend ($0.09/share)
(1) Net new assets (NNA) consist of total client asset inflows, less total client asset outflows,
excluding activity from business combinations. Client asset inflows include interest and
dividend payments and exclude changes in client assets due to market fluctuations. Net
new assets are measured based on the market value of the assets as of the date of the
inflows and outflows.
(2) Annualized NNA growth rate as a % of client assets as of the beginning of the period.
(3) Investment product fee revenue less money market mutual fund revenue.
21. -10%
0%
10%
20%
30%
40%
S&P 500
+5%
AMTD
+31%
Peer Group
+25%
Source: Bloomberg. Fiscal year to date represents the period from 9/28/2012 to 1/31/2013.
Returns represent total daily shareholder returns including dividends (assumes dividends are reinvested).
Peer group includes Schwab & E*Trade. Weighting assumes equal dollar investment at the beginning of the period.
