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Greater Scale, Stronger Advantage
Demonstrated Financial Leadership
2003 and Beyond
Sustaining the Vision
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Management Team
Board of Directors
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Dear Shareholders
 
Promises kept, opportunity foundAt Ameritrade, we've been in the business of helping independent investors find opportunity for more than a quarter-century. Last year I said that while our competitive and economic environments were extremely challenging, we were entering 2002 more efficient, disciplined, flexible and focused. Those strengths allowed us to improve our profitability and enhance our service to clients and our value to shareholders, regardless of market conditions.

We delivered.

2002 was a breakthrough year for Ameritrade. Where others retrenched, we remained committed to the execution of our strategy. As a result, we doubled in size, gained financial strength, added new products and services and continued to champion our clients' interests.