TD Bank 2010 Annual Report Download - page 28

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TD BANK GROUP ANNUAL REPORT 2010 MANAGEMENT’S DISCUSSION AND ANALYSIS26
Global Wealth3
(millions of Canadian dollars) 2010 2009 2008
Revenue4
Discount Brokerage 778 742 743
Asset management 756 643 777
Advice-based 923 820 808
Total Global Wealth5 $ 2,457 $ 2,205 $ 2,328
BUSINESS SEGMENT ANALYSIS
Wealth Management
Through our online brokerage, advice-based, and asset management businesses, TD Wealth Management
helps retail and institutional clients build, preserve, and transition wealth.
1 Assets under management: Assets owned by customers, managed by the Bank,
where the Bank makes investment selections on behalf of the client (in accordance
with an investment policy). In addition to the TD family of mutual funds, the Bank
manages assets on behalf of individuals, pension funds, corporations, institutions,
endowments and foundations.
2 Assets under administration: Assets owned by customers where the Bank provides
services of an administrative nature, such as the collection of investment income
and the placing of trades on behalf of the clients (where the client has made their
own investments selection).
3 Excludes the Bank’s investment in TD Ameritrade.
4 Certain revenue lines are presented net of internal transfers.
5 Effective the third quarter of 2008, the Bank transferred the U.S. wealth manage-
ment businesses to the Wealth Management segment for management reporting
purposes. Prior periods have not been reclassified as the impact was not material
to segment results.
(billions of Canadian dollars)
ASSETS UNDER
MANAGEMENT1
$183$183
$200
100
150
50
0
08 08 10
(billions of Canadian dollars)
ASSETS UNDER
ADMINISTRATION2
08 09 10
$250
100
200
150
50
0
$224
(millions of Canadian dollars)
NET INCOME
08 09 10
600
$800
400
200
0
$641