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More Investors Seek Guidance: TD Ameritrade CEO

As retail investors return to the market, they are seeking more professional advice than they did before the recession, Frederic Tomczyk, president and CEO of the online stock trading company TD Ameritrade, told CNBC Friday.

“More and more people are looking for some help and guidance,” said Tomczyk, speaking from the TD Ameritrade Conference in San Diego.

“The retail investor didn’t understand how they were investing: They got very aggressive in the stock market,” the CEO said about before-the-recession investing patterns. “What you’re seeing is a pullback to reassess their risk tolerance, which is a good thing.”

He added that the long-term investor is between 25 percent and 50 percent back in the market, but that there’s a lot of room to grow from there.