TD Ameritrade launches package of retirement plan services for RIAs

Bundles 401(k) plan services, record keeping and third-party administration for advisers of plan sponsors

Jan 31, 2014 @ 1:16 pm

By Joyce Hanson

TD Ameritrade Holding Corp. has plunged into the retirement business for registered investment advisers, announcing Thursday it is bundling a package of services into a single program for RIAs who serve plan sponsors.

Called the TD Ameritrade Retirement Plan, the new program was built with feedback from registered investment advisers who said they wanted a single point of contact from a custodian that would assemble service providers and help advisers comply with regulations, according to a statement from the company.

The new turnkey program was created by the parent company's TD Ameritrade Trust Co. subsidiary, which provides custody and record keeping services, to help advisers simplify the process of setting up a retirement plan business, the release said.

The TD Ameritrade Retirement Plan offers 401(k) services such as record keeping, custody and third-party administration from the trust company along with access to thousands of nonproprietary exchange-traded funds and mutual funds, according to the statement.

Related: How to break into the 401(k) plan adviser scene

RIAs will get a step-by-step guide on how to set up a retirement plan business, approach prospects and serve clients, the statement said. The program includes account management tools for advisers, enrollment and education materials for employers and IRA rollover assistance for plan participants.

In launching the new program, TD Ameritrade officials pointed to a TD Ameritrade Institutional survey showing that eight out of 10 advisers predict RIAs will expand their share of the enormous U.S. retirement plan market as it gets even bigger. Americans already have saved about $5.6 trillion in 401(k) and other employer-sponsored defined-contribution retirement plans, according to an Investment Company Institute report this month.

TD Ameritrade is not the first custodian to market with such a retirement package for RIAs. Back in April 2010, Fidelity Investments unveiled its own bundled 401(k) platform for distribution through RIAs.

The Fidelity Advisor 401(k) platform bundles record keeping, investments, participant education and fiduciary support materials, according to a statement. It was built on the existing Fidelity Advisor 401(k) platform distributed through broker-dealers.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Here's how we came up with our list of undiscovered talent in mutual funds

Senior columnist John Waggoner talks with assistant managing editor Susan Kelly about how hard work, curiosity and passion landed some fund managers on our list.

Latest news & opinion

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

SEC advice rule seeks to tighten reins on brokers

The proposed rule puts new restrictions on brokers, but it is still unclear how strongly the SEC is clamping down.

SEC advice rule hearing updates

Commission says a lot of work ahead, public will have 90 days to comment.

SEC advice proposal unveiling: Here's what to expect

Chairman Jay Clayton will initiate momentous action Wednesday, as the commission meets to debate a rule on broker and adviser standards.

How active are the largest actively managed funds?

Active-share measures for the 15 largest actively traded mutual funds.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print