TD Ameritrade Premier List Funds

We're removing this fund from the Premier List because it has underperformed in the rebound since the financial crisis. Some underperformance was to be expected given that the fund protected so well on the downside in 2008, but the after another setback in 2012, we have lost our conviction in the fund.

This fund's peformance hasn't been worse than middling, yet we're concerned with its relativley high costs of 1.33%, so we're replacing it with a cheaper fund where we have more conviction in the investment process.

This fund is being removed from the Premier List in favor of Fidelity Spartan 500 Index Advanatage because the Fidelity fund recently became available for selection and it has a lower expense ratio by one basis point.

This fund is being removed from the Premier List because we have more confidence in our other selections.

This fund moved from Morningstar's small-cap value category to Morningstar's small-cap blend category. This fund remains on the Premier List, although it will now appear as a pick in its new category.

This fund is new to Morningstar's small-cap blend category, but it is not new to the Premier List. In previous quarters it was a small-cap value pick, but its investment style has shifted into small-cap blend. The process remains the same and we retain our conviction in the strategy.

We very much like this fund's opportunistic approach to growth investing. Its opportunism allowed the fund to avoid the worst of the 2008 correction and still be prepared to fully participate in the 2009 rebound. We believe strong showings in both 2011 and 2012 have improved its longer-term track record and its low expense ratio of 0.69% provides a clear advantage over peers.

This fund was removed from the Premier List in 2011 when it closed to new investors. But it has since reopened and we still appreciate its unique investing style so we're adding it back to the list of picks.

Manager Rick Lane has been running this strategy for 15 years, with compelling results. The strategy balances growth and value attributes among its financially healthy portfolio, while looking for buying opportunities when a company has a short-term setback

This fund hasn't always been the most consistent performer, but we like the long-term results and some recent changes made to the strategy. Weitz has expanded the opportunity set and become more diversified by sector, while focusing this fund on small- and mid-cap stocks. In the past it was an all-cap offering that was more willing to take big sector bets. We think the changes will improve the fund's reliability.

Vanguard's target retirement series has been on the Premier List for some time, but we're adding new versions of the series as they are launched. The versions for those retiring in or near 2060 and 2055 are added for this quarter.

Vanguard's target retirement series has been on the Premier List for some time, but we're adding new versions of the series as they are launched. The versions for those retiring in or near 2060 and 2055 are added for this quarter.

This large-blend fund with Oakmark's flexible value approach has weathered many storms and, we believe, delivered for investors in the long run. Its concentrated approach can lead to rough spots, but manager Nygren has a track record of success that it difficult to ignore.

This fund recently became available for selection and has been made a pick due to our view of its rock-bottom expense ratio.

This is one of the few strategies in the long/short equity category that boast a long-term track record and reasonable expenses. The stable management team, both portfolio managers have been in place since 2003, helps build our confidence in the process going forward.

Janus is one of the few bond shops that we feel has successfully leveraged the research of its equity team while building a comprehensive database for analyzing corporate bonds. Fixed income CIO Gibson Smith has built up the team and the resources to help make this a compelling option.

Using its top-down process has led to a steady stream of positive returns with few disappointments. This fund was added to increase the depth of the picks in the category.

Its consistently solid results stem from a balanced strategy that we feel is superbly executed through equal measures of risk aversion and return maximization.

This fund takes on more credit risk than peers, but it has justified that stance by delivering top tier performances. Overall risk has remained moderate despite the fund's willingness to take on some credit risk and Wells Fargo has the analyst resources to pull this off.

Consistent outperformance and stable management are this fund's hallmarks. Strong overall returns and relatively low expenses compensate investors for volatility that is somewhat above average for the category.