New RIAConnect platform makes it easy -- and
free -- for independent RIAs to explore potential deals and find
top talent through a virtual community
Even before travel and face-to-face meetings were shut down by
the global pandemic, forming strategic business relationships could
be a challenge. But what if advisors could make introductions with
other advisors throughout the United States — anonymously,
virtually and at no cost – from the comfort and safety of their
home offices?
Starting today, they can. TD Ameritrade Institutional1
introduces RIAConnect®, a new technology tool that makes it
easier for independent registered investment advisors (“RIAs”) to
make the kind of people connections that can help them pursue their
strategic goals.
RIAConnect is designed to facilitate virtual introductions
between potential acquirers and firms exploring a sale or a merger.
It can aid firms looking to implement succession or contingency
plans. Additionally, it connects firms that want to hire
next-generation talent with graduates and career-changers looking
to join an advisory firm.
RIAConnect provides all these services -- at no cost --
exclusively to clients of TD Ameritrade Institutional. Better yet,
clients have seamless access to RIAConnect through Veo One®,
TD Ameritrade Institutional’s advanced custody and brokerage
platform.
“Advisors are looking for a safe, secure, virtual community that
can help them scale and pursue their strategic goals,” said Scott
Collins, Managing Director of Sales Consulting at TD Ameritrade
Institutional. “RIAConnect can help advisors find top talent and
acquisitions that can fuel growth and better position their firms
for the future. It’s not just about making deals: it’s about making
connections that can lead to bigger and better things.”
A Next Generation Talent Solution
Meanwhile, the RIA industry faces a talent shortage as a wave of
retirements is expected to outpace the numbers of young
professionals joining RIA firms. Advisors tell TD Ameritrade that
though they’re eager to add next generation talent, they don’t
always know where to look. RIAConnect offers an effective way to
search for high-performing talent by connecting firms with recent
graduates and career changers.
Likewise, young professionals, career-changers and financial
planning students now have a greater opportunity to connect with
advisors and explore job opportunities. Though RIAConnect® NextGen,
RIAs can search for potential interns and full- or part-time
employees, screening by years of work experience, professional
designations, where they’re located, and their field of study.
Advisors will be able to reach out and start the conversation
directly through the RIAConnect platform.
“RIAConnect NextGen will foster a virtual community that can
facilitate connections with the future leaders of the financial
planning profession,” said Kate Healy, Managing Director of
Generation Next at TD Ameritrade Institutional. “We can use
technology to help our clients find and recruit top talent from our
nation’s colleges and universities, increase diversity in the
profession, and address succession planning – all of which is
essential to helping RIAs compete and thrive for years to
come.”
Making it Easier to Find a Match, Virtually
Several industry trends underscore the market’s need for
RIAConnect.
Advisory firm M&A activity has been red hot in recent years,
surging 60 percent to a record high in 2019.2 At the same time,
more potential breakaways are exploring paths to independence that
do not require starting their own business: 19 percent of potential
breakaways say they are open to joining an existing RIA firm
compared to 9 percent just six months ago.3
Yet reliance on traditional one-on-one introductions can make it
challenging to meet compatible individuals or firms. RIAConnect
would help facilitate introductions between buyers and sellers, who
can virtually discuss strategic goals and explore combinations, as
well as connect firms with more job candidates.
Through the platform. RIAs can create profiles that include
geographical location, investment philosophy, value proposition,
professional goals and objectives. RIAConnect uses these criteria
to suggest firms or individuals that may be a good match. Advisors
then can message other advisors or next gen candidates -- directly,
anonymously and secure -- revealing their identity only when they
choose.
To learn more about RIAConnect, TD Ameritrade
Institutional clients can call their Relationship Manager or go
directly to Veo One. Other advisors can call us at (800)
934-6124.
About TD Ameritrade Institutional
TD 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 Corporation
TD Ameritrade provides investing services and education to
approximately 12 million client accounts totaling approximately
$1.2 trillion in assets, and custodial services to more than 7,000
registered investment advisors. We are a leader in U.S. retail
trading, executing approximately 2 million daily average revenue
trades per day for our clients, nearly one-third of which come from
mobile devices. We have a proud history of innovation, dating back
to our start in 1975, and today our team of nearly 10,000-strong is
committed to carrying it forward. Together, we are leveraging the
latest in cutting edge technologies and one-on-one client care to
transform lives, and investing, for the better. Learn more by
visiting TD Ameritrade’s newsroom at www.amtd.com or read our
stories at Fresh Accounts.
Brokerage services provided by TD Ameritrade, Inc., member FINRA
/ SIPC.
1 TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., a brokerage subsidiary of TD Ameritrade Holding
Corporation.
2 FA Insight, FA Insight Mergers & Acquisitions Activity:
2019 Year-End Update, fainsight.com
3 TD Ameritrade Institutional, 2020
Breakaway to Independence Survey, June 2020 (not published)
Source: TD Ameritrade Holding Corporation
BI# 1358812
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version on businesswire.com: https://www.businesswire.com/news/home/20200615005053/en/
Joseph Giannone Communications & Public Affairs W:
201-369-8705 Joseph.giannone@tdameritrade.com
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