TD Ameritrade’s (AMTD) Institutional division, which services independent investment advisers, must have one hell of an event budget. For its 14th annual National conference, it’s busting out nothing less than two former Presidents – George W. Bush and Bill Clinton.
Tom Bradley, president of TD Ameritrade Institutional, says “this will be a rare and exceptional opportunity to hear a candid dialog between two former presidents of the United States.” Bush and Clinton will “offer their unique perspective on the challenges and opportunities facing the financial services industry, our nation and our world.”
In 2001, Morgan Stanley (MS) hired Bill Clinton to speak at a Florida conference, a choice that didn’t go over well with some of Morgan’s customers. Maybe the excitement of snagging a President overshadowed the reality that for many, he was a pretty controversial guy. Former CEO Phil Purcell actually came out and apologized to its clients over Clinton’s appearance, which cost the firm over $100,000.
This conference is going to be huge for the business media. It’s not very often that you’ll get two guys like Bush and Clinton sitting down at a table for a “candid dialogue” on the economy. The debate is raging on as to whether we’re in recovery mode or getting ready to head back down the toilet. And unlike Morgan Stanley’s ill-fated 2001 event, TD’s appears to be open to the media.
It may appear that AMTD learned a valuable lesson from Morgan Stanley’s misstep and did the smartest thing possible – it found a former Republican President to balance things out. But Bush is a pretty polarizing guy -will they piss off the entire audience rather than just half of it?