SAN DIEGO — TD Ameritrade is joining the crowd of firms intent on building a robo advisor, although it immediately notes that its product will be less "robo" and more expensive than some of its competitors' offerings.

Fred Tomczyk, president and CEO of TD Ameritrade, acknowledged at TD Ameritrade's Elite Advisor Summit, now underway here, that there is a market for the pure digital offerings in the marketplace. But he believes that such an offering supported by human specialists is the way to go. "Our belief is that you still need human beings to be part of the process," he said.

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