My Account Store Store

ICLUBcentral and TD Waterhouse Announce Alliance to Simplify Online Management of Investment Clubs

July 17, 2001 -

CAMBRIDGE, MA and NEW YORK July 16, 2001 ICLUBcentral Inc. (, a provider of software products for investment clubs and TD Waterhouse Group, Inc. (NYSE / TSE: TWE), the global online financial services firm, have entered into an alliance to offer TD Waterhouse's U.S.-based clients access to ICLUBcentral's ICLUB platform, a comprehensive online management platform for investment clubs. Approximately 1.25 million U.S. investors currently participate in investment clubs, a number that has quadrupled in the past decade. Including both club and personal portfolios, these individuals hold more than $440 billion in securities.

ICLUBcentral's platform will simplify the process of maintaining an investment club account at TD Waterhouse by enabling club members to automatically download their account data directly into the ICLUBcentral proprietary platform using the Open Financial Exchange (OFX). Traditionally, investment club members had to manually enter all account data for maintenance, securities transactions and accounting.

"Our goal is to build a diversified financial services platform that provides all types of investors with the products, services and information necessary to manage their investment portfolio. Providing tools that simplify the online management of investment clubs is just one way we are working toward accomplishing that goal," said Stuart Rubinstein, Senior Vice President of Electronic Commerce for TD Waterhouse. "ICLUBcentral is a perfect partner for us to work with in bringing these tools to club members."

The ICLUBcentral suite of tools offers investment club members many benefits including:

  • online club formation
  • the ability to discuss and vote on securities transactions and organizational issues
  • the ability to view portfolios online
  • the ability to perform accounting functions online and
  • online creation of IRS tax forms

Use of the ICLUBcentral service is currently free of charge. In addition, investment clubs that open new accounts with TD Waterhouse will receive one year of free account downloads, a service that normally costs $95 per year.

"We're excited to be partnering with TD Waterhouse in what will be a mutually beneficial relationship," said Robert Brooker, CEO of ICLUBcentral. "Integration of investment club activities with online brokerage accounts is an unprecedented convenience for investment clubs."

In addition to the 45,000 investment clubs that currently use ICLUBcentral products, ICLUBcentral provides the official investment club accounting platform for the National Association of Investors Corporation (NAIC). The NAIC is a 637,000 member non-profit organization that has been a principal source of educational and accounting products for investment clubs and individual investors for the past fifty years.

About TD Waterhouse
TD Waterhouse Group, Inc., (NYSE/TSE: TWE), provides investors with a broad range of brokerage, mutual fund, banking and other consumer financial products on an integrated basis. Worldwide, TD Waterhouse currently services 4.6 million customer accounts in the United States, Canada, the United Kingdom, Australia, and Hong Kong. The firm also has joint ventures in Japan, India and Luxembourg to serve investors in those countries. TD Waterhouse can be found on the Internet at and on America Online at Keyword: TD Waterhouse. In the U.S., brokerage services provided by TD Waterhouse Investor Services, Inc. (Member NYSE/SIPC).

About ICLUBcentral Inc.
ICLUBcentral is a leading provider of group financial products to financial institutions and online communities. ICLUBcentral products for investment club services enable personal investors to leverage the Internet to communicate and collaborate with others on investing decisions, making group investing easier and more profitable. Over 45,000 clubs already use ICLUBcentral products to manage their investment dollars, including members of the National Association of Investors Corporation (NAIC), a 637,000 member non-profit organization for investment education for investment clubs and individual investors. Founded in February 2000, ICLUBcentral is based in Cambridge, MA.

TD Waterhouse Contact:
Melissa Fox
TD Waterhouse Group, Inc.

ICLUBcentral Contact:
ICLUBcentral Inc.

About    Press    Management    Privacy Policy    Terms of Service    Contact

copyright 1989 - ICLUBcentral Inc. or its affiliates