I have learned a lot. What we have done now is that we have pulled together all of our experience from sink or swim and we have rolled it into a Company Called dough. Right now, we believe that the industry is right for innovation. We have let me just get my slides here one of the things that we truly believe is that Brokerage Firms and Wealth Managers have an opportunity to tap into that Younger Generation. We think there needs to be a new approach, but with a new visual and with a new design. And we need to go to that Younger Generation with how they use technology today. They are highly mobile. They have they really they want information to come to them. I want to introduce to you a sneak preview of dough. We will see the launch of it in a few weeks. It combines trading and an engagement platform for the Younger Generation. I will show you the video. [video clip] one of the things that we have done is going back to the thing that adam said. It is simplifying and trying to roll this into one platform that simplifies having problems with the clicker. Sorry. I want to talk about the Younger Generation in general. They expect everything to come to them. There is a Big Convenience and easy access and everything needs to be mobile. There is 10 of the u. S. Population that already uses mobile devices. Just access their bank accounts. Of that 10 , you have 54 of that are accessing the checking and savings accounts. You go further into 36 of their credit cards. 28 of those for the investment accounts. We know that this environment is ripe. Theres also the expected growth of 30 per year for the next three years. One of the things that we did add sink or swim is that we were at the forefront of the Technology Area for online trading. We have been at the forefront really. The amount of content that gets consumed through video every year is enormous. We need to make sure that the content is relevant and entertaining. But what is important is to make sure that the technology that is provided is pushing the content to the customers or has the ability to curate the content and make sure it is organized and easy to find. On top of that, make sure that video or that data is all on demand. They want it now. They expect it. The younger demographic expects that it is all easy access wherever they are. Also, that it is free and shareable. Thinking beyond mobile access to your bank account, taking it one step further, something that is simple. Something that Brokerage Firms do today. You can get your debit card. You can write checks. You have access to more options. It is really important. You need a flexible alternative than just a bank account alone. It is time to think differently. Our approach is a different approach for that younger demographic. Providing not only an entrance to gaming and entertainment, but also with content and access directly to their trading accounts. It is time to think differently. Creating a culture within we take that startup mentality and we need to place that inside a larger organization. The base tom will pull me off stage. [laughter] the one thing we need to think about is taking that startup mentality and placing it within large organizations. Give them the chief innovators hat and start to create a culture of innovation. Thank you. [applause] thank you. Next up is nicole. Nicole and i first met when a Company Acquired sink or swim. She now runs the largest trader group and the Trader Technology in the world. They do over 3 billion of transactional business every hour. When you think about las vegas, they do about 2. 5 billion of transactional business every year. Im showing you how huge that segment is. Nicole. That is a lot of benjamins. A lot of benjamins. [applause] great. Like tom said, i used to work for him. When he went to start a new media company, he sought out all of the smartest people and left me behind. It is great to be here. I want to talk about some of the things that our firm has been focused on from a problem solving perspective. I have been spending a lot of time recently studying generational migration trends. Riveting, right . If you think about it, im responsible for the growth of the trading business at Td Ameritrade. When i looked on the road, im concerned about what will happen with future generations. If you look at this graph, were looking at it from 2010. In the green comment baby boomers. As we look a few years down the road, 2020, that population is going to drop down below 20 . The millennials will be at 19 of the population. Ready much everyone in Financial Services have always been talking to the baby boomers. But a few years down the road, we will be targeting a different individual investor. I have been studying these individuals. Some things emerge that has me concerned. 11 leave at the stock market is the best way to prepare for retirement. That is not many. If you look at generation z, 40 believe a savings account is the best way to save for retirement. That is concerning. As we all know, the best way to build wealth over time is through the stock market. We teamed up with two guys who are millennials themselves. They have a Small Company out of kentucky. They are great with social and finance. The genesis of the problem that we gave them was how to get in front of young kids and keep them teach them to think differently about the stock market . How do we get them less concerned about the risk of the stock market and get them to cultivate a genuine interest . What youre looking at on the screen is a graphic that we found in the huffington post. That is the genesis for the idea. These 10 publicly traded companies are the top 10 companies in this diversified foods sector. Most people know that nestle crunch is owned by nestle. They may not know about nespresso. Young people have an amazing sense of brands and labels. They are genuinely interested in brands. A know a lot about them. What if we could get young people today to think about products they interact with not just from the if i rush my teeth with crest and i got a Pumpkin Spice latte. What if they could think in terms of having a different way . It products that they interact with and talk about on a regular basis are publicly traded companies. If they invest in those companies, they could potentially make some money. That is the genesis of the idea. It is a new site. What it does is it comes through all of your social interactions. It looks at all of the tweets that you and your friends are talking about the most. It is not just the companies, but at a product level as well. If you say you are enjoying a Pumpkin Spice latte, you know that the publicly traded company are talking about is starbucks. It is an amazing database. You can see one of the investors likefolio. How it plays out, you can see a 12 month Price Performance of young. Yelp. The different bubbles will show you what your friends have to say about that particular stock. My hair salon mentions if you go on to yelp and do a review, they will give you 60 off of your haircut. Wow. They want people to get on yelp. My friend jason miller says spread the good word. As soon as i saw that, yelp is a verb. That is a Product Developers dream. That investment is now worth 2600. It is a different way for young people to think about the stock market. One other thing i want to mention quickly in the interest of time, another thing your building is Td Ameritrade u. What we are doing with Td Ameritrade u is taking our paper Trading Software and putting it in colleges and universities completely free of charge to allow young people who are learning about the stock market the ability to trade and see how one another are performing. It is basically a virtual environment for them to kick the tires and see how they would do in a trading environment. What you can see here is a professor, dr. Smith. He is teaching four classes and he is ranking competitions in his classes. He can see exactly how the students are taking in the insights and concepts they are learning in class. Angela can see how her traits are performing and also how her friends are performing as well. Here you can see angela is ranked seventh in the super trading competition versus matt maguire who is in first place. You can click on matts name and figure out what he is doing to outscore her. There is a learning curve. There are challenges were facing in how young people are thinking about the markets and of Innovative Solutions that can help them think about things differently. Thank you. Good stuff. [applause] i have got a couple of minutes where i get to throw some not so softball questions. Id like to them. I told them that i was going to throw them all softballs and i decided that is no fun. Ok. I expected it. The average investor is about a 50yearold white man. That is it. The industry is a 50 year old white guy. How do you change that . You have to do something incredible. You almost have to burn the forest down to restart it. What you women are doing or Building Companies and parts of a Larger Company to address that. Here is the issue a 21year old may understand that they have gotten a starbucks latte, but that doesnt necessarily help them improve upon the law of big numbers or big averages where you ultimately finish with a mediocre result. How do you change an entire generation of twentysomethings . How do you get that to something you were talking about . How do you get that 21yearold to learn how to up like this . Make it applicable . Going back to the concept, likefolio was created to spike that interest. It is not enough. They have to learn about the fundamentals. They have to learn about Risk Management. More and more Companies LikeTd Ameritrade are taking all of the education insights that they need to know and delivering it free of charge. Is that like that casino . I do not think so. In terms of the sustainability of my business, i will continue to have a job. Education is a key component of that. The more successful clients are, the more successful our business owill be. Next question. The amount of options and derivatives in Td Ameritrade at the time was about it is now in the mid40s. That is incredible growth. There is a different climate. How do we move this huge growth down to this Younger Generation . How do you make it so that it is investable for them . Absolutely. This goes back to what i was saying the war. Make sure you are providing the tools for that Younger Generation. Think about how they live now. They are gaming on their mobile devices. It could be video or written. They like to follow and interact socially. That is one of the things that we have done with dough. We provide all of those avenues for the generation young generation and to learn about trading and follow other traders and watch what they are doing. It is similar to what you are doing in the universities, but we are doing it with live trades. We do it with providing a number of different types of people that you can attach to. I believed that one of the best ways to learn is that hands on learning. You are learning by doing. You can also watch someone do. With dough, you can stand over a professional traders shoulder and understand how they are maneuvering the markets. If you watch those individuals making the trades and understanding more about why the qualities to say that certain Product Types did not fit the complex via the technology, that the Younger Generation with a added to submit it. Kids, address all these it is exactly the opposite. I think that is the case. As i was mentioning before, they have an amazing perception for brands and products, and a lot of the products that young kids are interested in today really depend on the comedies that they roll up to. This knowledgef and spending power as well. It goes back to the aiders 80s when people went back to products we know and use. World,looking at your and young people are looking at their world at different lens, when it is not just the products i use, but there is a company that makes this product, and they might be performing well in the market, it is all about thinking differently. To thehristie, taking it next progression, how do we engage . How oldto go out will he do you change a culture that is just like somebody said earlier, a lot of people want to open up a bank account. Said why would anyone want to broaden up a brokerage account . A couple of things. First of all, a bank account versus a brokerage account, i do not know why any would what to open up a brokerage account today because oak ridge firms have, long way in all of the capabilities you can do. Not just trading stocks and options, food futures, and funds, you can have your debit card, you could have your checking, you can have it all in one place. That is fantastic. One of the things i will say is talking about engagement, is taking that brokerage platform and putting it on top where you have the engagement tools, the constant engagement tools. One of the things i would go back to at think or swim, we merged with another company. It was a Financial Education company. We saw that when someone had the educational core, they had confidence to trade more and try Different Things in the market. They traded 24 times more after they took that class. After a while, they dropped off. The engagement was missing. Taking that content and providing continuous financial commentary and entertainment, something useful on something relevant is really critical. Providing that sort of content in the same place where they are placing their trade is also really important. Adding the people that you can follow and learn and have that in one place is ideal. It is almost expected these days. Nicole, a quick question on Financial Literacy. A new generation grows up with Financial Literacy as one of their backbones, which it never has been, it changes the way you do almost everything. Even if you do not invest or even go to work, we are more technologically driven toward math. Wouldnt that change the entire Growth Industries . Everything. [laughter] i think it absolutely will. Look at all of the young people that are here today and are looking to share ideas and learn about what other companies are doing that is new and innovative and different. To me, that is what Stock Research is all about. It is looking at Innovative Companies and what they are doing differently. As they are problemsolving, how will that play out in terms of their performance . That is what the stock market is all about. If we could get young people focused on developing that passion behind the company that is out there making money, not only would it change the ideas that would bring to market, but they will be in a better position when it comes to retire. How hard is it Building Financial technologies . How hard is it to address things that have never been addressed before with technology . Building scalable, Financial Technology that has never been done before, is it risky . Is it difficult . I will start. It is both. It is difficult. It is risky. Youre not really sure if it will ultimately provide that or fulfill that need that people have out there. If you say i know who that demographic is that i am going after and really understanding how they function and how they live and how they get their information or how they naturally expect to use it, you can build it there. It does not always easy. You have to constantly be ready to change. That is one of the most important things. I will change the question a little bit for nicole. In the industry, as we teach people as you teach people to become more financially literate, how do we apply that with respect to owning your own results . The problem i have had with the financial space is that everyone prefers to blame instead of taking ownership on themselves. As you build Cooler Technology and deliver a message, shouldnt the transition be obligation to the user . I think so. We call it the selfdirected space. We spend so much time over the past few years. One of the many reasons we acquired think or swim is that i have an amazing infrastructure built into the technology to help investors know what they were getting when they were pulling the trigger. They knew what they stood to lose and what to gain. I look at my job as a technology innovator. I have a responsibility to keep raising the bar. Help give people the tools that help them better understand what decisions they are making and help them make better informed decisions. It is a responsibility. Is the future of Financial Technology content or functionality . I actually believe it is a combination of both. You cannot have something that stands alone. You need to provide so much more than just one or the other. Content, we are in the content area right now. Content is king. But that technology has got to be amazing to go along with it. It is both. What i would say is that within our think or swim platform, it is the number one trading platform, we have done so much over the past year to integrate more content into the system. It helps to better inform the user. Within our platform, our client can watch a show where he is talking to them all day long about Risk Management and trading. The content delivers through the trading platform. You have never liste