That "Advisory Firm" John Bunch Of TD Ameritrade Went To? The Mutual Fund Store

Thursday, February 09, 2012 08:48

Tags: RIAs

After a few days of speculation, the identity of the firm that grabbed the head of TD Amitrade's retail brokerage unit is clear.

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The Mutual Fund Store -- the third-biggest RIA in the country -- pulled Bunch away from TDA to run aggressive growth plans.


They want to open another 100 retail branches in the next three years. 


That's on top of the 80 locations that currently run around $6.5 billion in retail investor accounts.


The Mutual Fund Store made a lot of money over the summer selling a majority stake in the company to Warburg Pincus.


Now it looks like they're putting that cash to work and expanding.


Whether Bunch turns them into an advisory version of a discount brokerage network -- he ran Schwab's branch network before going to TDA -- remains to be seen, but bet on them becoming an even bigger name in the mass affluent space.



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