NEW YORK, June 19 /PRNewswire/ -- TD Waterhouse Institutional Services, a
division of TD Waterhouse Group, Inc. (NYSE: TWE; TSE), the global online
financial services firm, has partnered with American Funds to offer TD
Waterhouse's U.S. financial advisor clients access to F class shares of mutual
funds from American Funds.
F class shares have been designed to meet the growing demand from
fee-based advisors and, through this arrangement, TD Waterhouse's more than
3,000 independent fee-based financial advisor clients can invest their
client's assets in these shares, which have neither an up-front fee nor a
contingent deferred sales charge.
"The financial advisors we serve prefer commission-free investment
alternatives for their clients and have frequently inquired about investing in
American Funds at net asset value," said J. Thomas Bradley, Jr., President of
TD Waterhouse Institutional Services. "We're pleased to be able to offer our
advisor clients F Class shares of the American Funds."
"We're excited to have this opportunity to expand our long-standing
relationship with TD Waterhouse," said Dexter Williams, Manager of American
Funds Investment Adviser Services. "We're especially pleased that investment
advisors who work in a fee-based environment now have the opportunity to offer
American Funds to their clients," Williams added.
Peter Mangan, Chief Mutual Funds Operating Officer at TD Waterhouse Group,
Inc. adds, "This joint initiative takes TD Waterhouse's long-standing
relationship with American Funds to the next level and reflects our
recognition of the changing face of the investment industry."
TD Waterhouse Group, Inc., (NYSE: TWE; TSE), provides investors and
financial advisors with a broad range of brokerage, mutual fund, banking and
other consumer financial products on an integrated basis. In the United
States, TD Waterhouse is the only online discount broker to have a retail
branch in all 50 states. Worldwide, TD Waterhouse currently services
4.6 million customer accounts in the United States, Canada, the United
Kingdom, Australia, and Hong Kong. The firm also services customers in
Japan, India, and Luxembourg through joint ventures in those countries.
TD Waterhouse can be found on the Internet at http://www.tdwaterhouse.com and
on America Online at Keyword: TD Waterhouse. In the U.S., brokerage services
provided by TD Waterhouse Investor Services, Inc. (Member NYSE/SIPC).
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SOURCE TD Waterhouse Group, Inc.
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Related links:
http://www.tdwaterhouse.com
CONTACT:
Melissa Fox of TD Waterhouse Group, Inc.,
212-908-3101, melissafox@tdwaterhouse.com
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