Despite a challenging environment, TD Ameritrade's top executives made out fine in 2011.
Fred Tomczyk, TD Ameritrade Holding Corp.'s chief executive, was paid $5,977,528 in total compensation for the fiscal year ended in September. That was up slightly from the $5,971,666 Tomczyk received in the prior period.
Meanwhile, Tom Bradley, head of the firm's TD Ameritrade Institutional custody unit, enjoyed a 35 percent pay increase, pulling down $2,430,615 last year, compared with the $1,796,500 in compensation he received in fiscal 2010.
The company's total pay figures, disclosed in a proxy statement filed yesterday with the Securities and Exchange Commission, include both cash compensation and stock awards.
"Management was rewarded in fiscal year 2011 for successfully executing on the company's business strategy, which, in the face of extremely difficult operating conditions, resulted in record net new client assets," the company said.
TD Ameritrade attracted net new client assets of $41.5 billion in fiscal 2011, up from $33.9 billion in 2010 and $26.6 billion in 2009.
Client assets totaled approximately $379 billion as of Sept. 30.
TD Ameritrade does not break out separate results from its custody business, but the firm's RIAs contribute about a third of the company's total assets.