- 60 percent cited a lack of time or resources
- 42 percent cited compliance and regulatory requirements
- 38 percent said they lacked business relationships with third party administrators (“TPAs”) or recordkeepers
- 30 percent were not sure of the opportunity
- 25 percent said they lacked the tools needed to service retirement plans
Still, half of the advisors said they would like to develop a firmer understanding in the areas of retirement plan compliance and regulation. More than half of respondents want more education about the retirement market. About 58 percent seek referrals on which third-party plan administrators and recordkeepers they should work with, while more than a third would want ongoing practice management support.With the right support and resources, more RIAs said they would be more likely to stake a claim in the retirement market, the survey showed. “Imagine a business where your clients add new money every two weeks, rain or shine,” said Schweiss. “That’s what the retirement plan market is, and for many advisors it remains an untapped source of new growth.” 1 TD Ameritrade Institutional is a division of TD Ameritrade, Inc., member FINRA/SIPC/NFA. 2 TD Ameritrade Institutional RIA Sentiment Survey – Retirement Plan Advice Market, November 2013, conducted by Maritz, Inc. on behalf of TD Ameritrade, Inc. 3 Investment Company Institute, “Retirement Assets Total $21.9 Trillion in Third Quarter 2013,” Jan. 10, 2014, http://www.ici.org/research/stats/retirement/ci.ret_13_q3.print 4 Cerulli Associates, Cerulli Quantitative Update: U.S. Retirement Markets 2012 (Subscription required) 5 TD Ameritrade Trust Company is a non-depository trust company that provides custody, directed trustee, recordkeeping, plan design support and plan administration services and is not a member of FINRA/SIPC/ NFA. TD Ameritrade, Inc., and TD Ameritrade Trust Company are separate but affiliated subsidiaries of TD Ameritrade Holding Corporation (“TD Ameritrade”). About TD Ameritrade InstitutionalTD Ameritrade Institutional, a division of TD Ameritrade, Inc., is a leading provider of comprehensive brokerage and custody services to more than 4,500 fee-based, independent registered investment advisors (RIAs) and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows advisors to run their practices more efficiently and optimize time with clients. About TD Ameritrade Holding CorporationMillions of investors and independent investment advisors have turned to TD Ameritrade’s (NYSE: AMTD) technology, people and education to help make investing and trading easier. Our clients want to take control and we help them decide how -- online, over the phone, in a branch or with an independent investment advisor. We’ve been bringing Wall Street to Main Street for more than 36 years. An official sponsor of the 2014 U.S. Olympic Team, TD Ameritrade has time and again been recognized as a leader in investment services. Please visit TD Ameritrade’s newsroom or www.amtd.com for more information. Survey MethodologyResults are based on a survey conducted by Maritz, Inc. on behalf of TD Ameritrade, Inc. 300 RIAs participated in a telephone survey Nov. 4 through Nov. 15, 2013. RIAs who custody with TD Ameritrade, Inc., as well as other independent RIAs from across the United States, were asked to share their views on the retirement plan advice market. The margin of error is ±5.6%. This means that in just over one case out of 20, survey results based on 300 respondents will differ by no more than 5.6 percentage points in either direction from what would have been obtained by seeking the opinions of all eligible RIAs. Maritz, Inc. and TD Ameritrade, Inc. are separate, unaffiliated companies and are not responsible for each other's products and services.