TD Bank Financial Group announced today that it expects TD Ameritrade’s first quarter earnings to translate into a contribution of $88 million to first quarter net income for its wealth management segment.

TD Ameritrade Holding Corp. posted a 65% rise in fiscal first-quarter net income, as the online brokerage benefited from high client activity during the topsy-turvy period.

The company also boosted its fiscal 2008 earnings outlook.

The Omaha, Neb., online broker posted net income for the quarter ended Dec. 31 of US$240.8 million, or 40¢ a share, up from US$145.6 million, or 24¢ a share, a year earlier

TD Bank Financial Group will release its first quarter financial results and webcast its quarterly earnings conference call live on the internet on Thursday, February 28.