TD Bank 2006 Annual Report Download - page 40

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2006 Management’s Discussion and Analysis
36
$151
(billions of Canadian dollars)
Assets under
management1
04 05 06
0
$175
150
100
125
75
50
25
$160
(billions of Canadian dollars)
Assets under administration2
04 05 06
$350
200
250
300
100
150
50
0
TD Waterhouse U.S.A.
Canadian Wealth
$590
(millions of Canadian dollars)
Net income
04 05 06
$600
400
200
0
1Assets under management: Assets owned by customers, managed by the Bank,
wherethe 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. These assets are not reported on the Bank’s
Consolidated Balance Sheet.
2Assets 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 investment selection). These assets are not reported on the Bank’s
Consolidated Balance Sheet. The decline in assets under administration in 2006 was
mainly due to the sale of TD Waterhouse U.S.A. to Ameritrade.
3Certain revenues arepresented net of internal transfers.
Revenues3
(millions of Canadian dollars) 2006 2005 2004
Discount brokerage $954 $1,621 $1,611
Mutual funds 512 427 381
Private client group 208 187 167
Investment management 143 117 103
Private investment advice 348 333 291
Financial planning 95 61 37
Total $2,260 $2,746 $2,590
BUSINESS SEGMENT ANALYSIS
Wealth Management
Wealth Management provides a wide array of
investment products and services through a
variety of brands to a large and diverse retail
and institutional global client base.