I’ve recently completed a (thankfully) very short stint at a TD Ameritrade branch office and at the risk of stating the obvious, would like to advise others on this forum not to do anything this stupid!

  There are numerous branch offices in metropolitan areas of the country or locations where a previous Waterhouse branch may have existed. These positions may seem beneficial if you're retired from a production capacity or just entering the industry. Like Fido and Schwab, many use a role of this sort to gain experience or get in touch with clients. Don't even bother. Here are a few of the many reasons why this is a bad idea:   -Back office. Every single department rivals the federal government in beaurocracy and incompetance. I've seen numerous seven-figure accounts take over a month to even have transfers (internal or acat) initiated. No matter how many times you call to follow up you will be told that it will be researched and someone will get back to you which will definitely not happen. Check deposits have been known to take well over a week to post. Certificates are constantly lost or posted late. Account bonus promotions never get posted on time. Etc. Etc. Etc. As a licensed rep you'll need to get "permission" (!) to perform basic activities from an unlicensed clerical employee in the back office.   -Compensation. While the base salary is competetive for industry peers in discount land (low to mid 40s depending on region of country) you'll never actually see your payout from assets brought to the firm. Your manager will have the ability to approve or not depending on the "influence" you've shown. If you start making too much money, a reason will be found not to approve large transactions.   -Product offering. There is only one product offering available, a proprietary managed money account comprised of ETFs. You will likely not be told the limited nature of what you can offer during your interview. You'll be told the firm has fixed income, etc. but not that you are unable to receive compensation on these items, or even sell them at all, referring the business to a department in another state. Given that this is the ONLY product you can offer, you would think it would be efficient to open? Nope. Bank on a three-meeting (phone or in person) process for an account opening and implementation that will bring you anywhere from $75 to a couple hundred bucks. No trails are available on this or anything else, but this is the least of your problems if you manage to stay over a year! This is an entirely hypothetical point since even if you do decide to put someone into this product, the aforementioned back office will screw it up in one way or another.   -Like many of the discount firms, 90% of your customer contact will be requests to discount or eliminate entirely fees of whatever kind. These clients are not viable candidates to transition to a full service environment as many have been indoctrinated (or were previously inclined) to see cost as the only value measure of a service provided. At least you'll enjoy watching them blow up their accounts with one hairbrained strategy after another.   -Front counter duty. I couldn't believe this aspect. Reps rotate once per week in offices where there is no front desk secretary or "client service specialist" which is soon to become all branches as this position is being phased out. You will have to wast 20% of your time (assuming a branch of five) sitting at a front counter taking check deposits or handling other walk-in issues of an administrative nature. This is one of the many things you will not be told during your interview.   Needless to say, I was out very soon and would highly advise others who for whatever reason are considering a TD Ameritrade branch office to look elsewhere, despite the somewhat positive reputation Waterhouse may have had as an employer in the discount arena.  I knew I'd be in a different environement from a full service or banking role (my previous experience in the industry) but expected something similar to Schwab or Fido.  While you shoud probably avoid the discount arena in general, if you must go this route (perhaps you enjoyed working for a competitor such as the above) you should do it somewhere other than TD. I know reps who have gone to Fido, Chuck, or a number of other discount platforms and loved it (to each their own) but have never met a single rep who had any sentiment towards TD other than relief for being done and disbelief at the incompetent, unprofessional, and in many cases unethical environment.