TD Ameritrade (AMTD) has historically been a reliable retail broker for its clients. However, I think that the rise of discount/free electronic brokerages has completely disrupted AMTD's industry. Unfortunately, AMTD seems to be stuck in its ways and is now resorting to growing its accounts through M&A rather than a better value proposition. In my view, this will probably translate into sluggish growth going forward. Hence, I think there's little potential upside in AMTD at these levels.
Source: AMTD's logo
Overview and potential issues
AMTD is a retail broker. Its revenues can be broken down