TD Ameritrade expands practice management programs for RIAs

TD Ameritrade Institutional has expanded its practice management programs in 2012, targeting independent registered investment advisors. The new offerings are built on TD Ameritrade’s Roadmap business consulting program, which helps advisors grow their businesses and become more productive.

“Advisors on the TD Ameritrade Institutional platform who participated in the Roadmap program over a 12-month period experienced nearly double the growth rate (17 percent) of non-Roadmap users (9 percent),” said George Tamer, director of strategic relationships, TD Ameritrade Institutional. “These compelling results are achieved by translating high-level business goals, such as improving client satisfaction, into definable and executable tasks. By sharpening the goal-setting process and focusing on executing a few tasks at a time, we’ve seen advisors experience significant progress.”

According to the latest TD Ameritrade Institutional RIA Sentiment Survey, two-thirds of RIAs say their top goal in 2012 is to grow their firms by adding clients and increasing revenue. The survey reveals RIAs are also focused on improving profitability (41 percent), client satisfaction (41 percent) and productivity (19 percent) in the New Year. Inefficiencies in business operations and procedures (29 percent) and personnel issues (29 percent) top the list of hurdles RIAs want to overcome over the next year, followed by poor time management (25 percent) and technology issues (19 percent). In an effort to meet theses top business challenges, more than half of RIAs say they will look to upgrade technology (52 percent), followed by providing training for staff (49 percent) and outsourcing (33 percent), wherever possible.

“For advisors focused on growth and profitability, choosing the right technology may be critical to pursuing their goals,” said Richard Whitworth, senior manager, practice management, TD Ameritrade Institutional. ”The technology infrastructure advisors use to run their businesses can be the key to maximizing office productivity, but unrealized efficiencies can cost the advisor and staff valuable time and money.”

To help advisors maximize their technology investments, TD Ameritrade Institutional offers a series of technology assessment tools designed to save advisors time and simplify the software selection process. TD Ameritrade Institutional is also launching a new tool to help advisors analyze the different technology vendors integrated with Veo, TD Ameritrade Institutional’s advisor trading platform.

The company now offers a customer relationship management, financial planning and document management software assessment tools, which help advisors decide which technological tools will best help them, based on their individual needs and their familiarity with the different technologies already in the marketplace.

It also offers a technology integration analyzer to help advisors find the best third-party vendors to integrate with their back offices.

These results are based on a survey conducted by Maritz, Inc. on behalf of TD Ameritrade, Inc. Three hundred fifty RIAs participated in a telephone survey from Dec. 20, 2011, through Jan. 13, 2012.

TD Ameritrade Institutional provides comprehensive brokerage and custody services to over 4,000 fee-based, independent registered investment advisors and their clients.


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