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TD Ameritrade Second-Quarter Profit Up 5.1%; Asset Revenue Climbs

TD Ameritrade Holding Corp.'s (AMTD) fiscal second-quarter profit rose 5.1%, helped by a nearly 20% increase in net new assets, but the online brokerage said its trading volume this year has missed its own expectations as many retail investors remain on the sidelines despite a market rally.During a conference call with analysts, TD Ameritrade Chief Executive Fred Tomczyk said its customers's engagement "remains tepid," noting that while trading activity rebounded sharply early in 2013 following the resolution of fiscal cliff issues, "Europe started to become uncertain" in March and it "feels a bit like Groundhog Day."For the period ending March 31, TD Ameritrade posted a fiscal first-quarter profit of $144 million, or 26 cents a share, up from $137 million, or 25 cents a share, a year earlier. Net revenue increased 0.9%, to $679 million.Earnings were in line with analysts' estimate of 26 cents and revenue beat the $677 million Wall Street had projected.But shares of TD Ameritrade fell ...

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