New TD Ameritrade Institutional Program Seeks
to Help RIAs Spend More Time Serving Clients and Cultivating
Prospects
Time is a precious asset, yet registered investment advisors
(“RIAs”) can lose countless hours to low-value work,
disorganization or performing tasks they shouldn’t be doing in the
first place.
Avoiding time traps starts with advisors taking responsibility
for how they spend their day. Personal time management and setting
priorities are some of the key components of TD Ameritrade
Institutional’s1 latest practice management program, Breakout
GrowthTM: Driving Business Performance Through
Efficiency, which shows how RIA firms can improve their
top-line performance by focusing on efficiency.
Running an efficient business starts with a clear, strategic
vision and streamlining operations, but achieving meaningful
productivity gains also requires better time management at an
individual level by advisors and their teams.
Tracking Time Traps
As part of the Breakout Growth program, advisors track how much
time they devote to different tasks for at least two weeks. Through
this exercise, advisors can better understand how they actually
spend their time and evaluate the results against the firm’s
priorities and goals.
When advisors scrutinize how they spend their days, they may
find some of these common workplace time traps: 2
- Doing tasks that should be
delegated
- Drop-in office visitors
- E-mail interruptions
- Paperwork
- Telephone interruptions
- Too much socializing
And while incoming phone calls, client e-mails and business
travel can’t always be avoided, many productivity-killers can be
addressed by advisors improving their own work habits and personal
organization:
- Confusion over job roles
- Inability to say “no”
- Leaving tasks unfinished
- Not using technology effectively
- Procrastination
- Trying to do too much
Once an advisor identifies the sources of distraction, they can
create a plan to make better time choices, focusing more of their
day on high-value work, said Vanessa Oligino, director of Business
Performance Solutions at TD Ameritrade Institutional.
“You cannot totally eliminate distractions that arise in your
daily life, but becoming more aware of what impacts your ability to
accomplish your goals is the first step in changing your behavior
and increasing your overall productivity,” Oligino said. “If people
are frequently dropping in to your office and you have a hard time
turning them away, for example, consider reserving specified hours
for visitors.”
Efficiency is the New BlackThough working on “efficiency”
may not be the most exciting task, TD Ameritrade Institutional
believes doing more with less can be inspiring when you look at the
numbers.
Forward-thinking advisors whose business strategy includes a
focus on efficiency, on average, experienced 2.2 times higher
annual revenue growth and 46 percent greater owner-income per
revenue-dollar than their peers.3 And though nearly half of RIA
firms say efficiency is one of the most important growth drivers,
three out of five business plans lack implementation details.3
Through Breakout Growth: Driving Business Performance Through
Efficiency, TD Ameritrade Institutional encourages RIA firms to
look beyond growth objectives – such as increasing assets -- when
making strategic plans. The program intends to show advisors how
firms of any size can boost productivity by implementing
problem-solving techniques, making better decisions about which
tasks to delegate or outsource and making better use of technology
tools.
TD Ameritrade formally kicks off the 2015 campaign today,
Sept. 24, with a webcast, “Building a Culture of Efficiency
to Drive Your Business Forward,” featuring guest speaker Robert
Miller of Arches Institute.
Advisors can register to attend regional workshops that will
explore the efficiency strategies of top firms. The first workshop
takes place in New York, Oct. 6-7, followed by meetings in
Atlanta, San Francisco and Chicago. TD Ameritrade clients also may
access Breakout Growth content here, including a new perspective
paper, “Running an Efficient Business,” that shows how improved
efficiency fuels growth.
To learn more, send email to
businessperformance@tdameritrade.com or call (800) 934-6124.
TD Ameritrade and Arches Institute are separate, unaffiliated
firms and are not responsible for one another's policies or
services.
About TD Ameritrade InstitutionalTD Ameritrade
Institutional is a leading provider of comprehensive brokerage and
custody services to more than 5,000 fee-based, independent
registered investment advisors and their clients. Our advanced
technology platform, coupled with personal support from our
dedicated service teams, allows investment advisors to run their
practices more efficiently and effectively while optimizing time
with clients. TD Ameritrade Institutional is a division of TD
Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding
Corporation.
About TD Ameritrade Holding CorporationMillions of
investors and independent registered investment advisors turn to TD
Ameritrade’s (NYSE:AMTD) technology, people and education to
make investing and trading easier to understand and do. Online or
over the phone, in a branch or with an independent RIA, first-timer
or sophisticated trader, our clients want to take control and we
help them decide how: We’ve been bringing Wall Street to Main
Street for 40 years. An official sponsor of the 2016 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.
Brokerage services provided by TD Ameritrade, Inc., member FINRA
(www.FINRA.org) / SIPC (www.SIPC.org)
1. TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., a brokerage subsidiary of TD Ameritrade Holding
Corporation.2. List adapted from The Time Trap: The Classic Book on
Time Management, by R. Alec Mackenzie, Amacom, 20093. The 2014 FA
Insight Study of Advisory Firms: Growth by Design
Source: TD Ameritrade Holding Corporation
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version on businesswire.com: http://www.businesswire.com/news/home/20150924005181/en/
TD AmeritradeJoseph A. Giannone,
201-369-8705Communications + Public
Affairsjoseph.giannone@tdameritrade.com
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