M.R. Beal is the latest municipal bond underwriter to bolster its distribution network in response to increased retail demand for tax-exempt securities by forming an alliance with a brokerage house that has a broader footprint with investors.

The New York-based underwriter and TD Ameritrade announced theirt partnership Tuesday. It follows a similar pairing in September between Goldman, Sachs & Co. and Chicago-based distributor Incapital LLC.

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