Online brokerage TD Ameritrade’s net income slipped 2 percent as trading slowed in its fiscal third quarter, but the company beat Wall Street expectations because expenses were down and investors entrusted the firm with more money.
Ameritrade CEO Fred Tomczyk said Tuesday that the company’s strategy is helping it weather the challenging conditions. But it doesn’t appear likely that the economic worries or low interest rates will change anytime soon, so Tomczyk said the company will have to remain disciplined and patient.
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