TD Ameritrade Institutional1 attracted a record 441 breakaway brokers to its platform for independent registered investment advisors (“RIAs”) in fiscal 2012, a 27 percent increase from fiscal 2011. TD Ameritrade Institutional has established itself as a leader in supporting breakaway brokers and has helped more than 1,000 advisors become RIAs since 2010, more than any other custodian. 2
“TD Ameritrade Institutional is one of the most experienced custodians in helping advisors make the move to independence,” said Tom Nally, president, TD Ameritrade Institutional. “We’ve made the goal of becoming an RIA more attainable through a clear, step-by-step, guided approach that can help take the guesswork out of the process.”
TD Ameritrade Institutional’s Bridge to Independence program serves to simplify and ease the transition for financial advisors looking to start their own RIA firm, join an established RIA or operate as a hybrid advisor. TD Ameritrade’s one-on-one approach is tailored to the financial advisor’s goals to help make the transition as straightforward as possible. TD Ameritrade Institutional provides guidance through four phases:
1) Choose a path. Financial advisors have options to consider when choosing how they will set up their business. TD Ameritrade Institutional lays out options for advisors starting a new RIA firm or joining an established RIA firm and also helps hybrid advisors find the right broker-dealer to support or transition any commission business. Financial advisors can get insights on the potential financial advantages of going independent, creating a strong business plan and timing a transition.2) Plan – Business structure and setup. TD Ameritrade Institutional provides financial advisors with expertise and support for a wide range of business needs including staffing, setting up technology and investment platforms, compliance and insurance, even office furniture and phone systems. 3) Transition. TD Ameritrade Institutional’s experienced Business Transition Services team has transitioned thousands of advisors. The team handles all account and asset transfers, client communications, and other logistics and helps ensure that the account transfer process goes according to plan. 4) Grow – Manage the business for success. TD Ameritrade Institutional provides ongoing practice management services which include access to educational materials and expertise in the areas of technology, staffing and compensation, client service, operations, business management and strategic planning. “There’s more support than ever before for breakaway brokers who want to experience the benefits of the independent advice model. They no longer have to deal with conflicts regarding what is good for the employer, as opposed to what is good for their clients,” said Nally. “We’ve dispelled the myth that going independent means going it alone. The RIA industry has matured and there are more choices and flexibility available to RIAs as an increasing number of technology and service providers focus their attention on the growing independent advice channel.”
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