TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corp. (NASDAQ: AMTD), announced Tuesday that it is expanding its fixed income securities list to include new issue municipal bonds that are underwritten by M.R. Beal.
Peter Sidebottom, executive vice president of product and marketing at TD Ameritrade, said in a statement, “Fixed income is a growing and important market as aging Americans look for a steady income stream, portfolio diversification and tax efficiency.” The arrangement with M.R. Beal, he added, “marks a significant expansion of our new issue municipal bond offering and solidifies our commitment to offer investors, RIAs and their clients a broad range of fixed income securities.”
The fixed income platform at TD Ameritrade offers access to FDIC-insured certificates of deposit (CDs), Treasury, agency, corporate and municipal bonds, structured products and unit investment trusts to both individual investors and RIAs.
Bernard B. Beal, chief executive officer of M.R. Beal, said in a statement, “Municipalities gain access to a national network of retail investors and RIAs, while investors and independent advisors can benefit from the potential cost-savings of buying bonds directly from municipal issuers.”
M.R. Beal is a municipal underwriter and one of the oldest minority-owned investment banks in the U.S. and brings “hundreds of new issue municipal bond deals” to market each year, according to the company.