TD Ameritrade Institutional 2014 National Conference

Tomczyk: RIAs are essential for serving high-net-worth clients

Jan 30, 2014 @ 12:00 am

Runtime: 2:29

TD Ameritrade Holding Corp. chief executive Fred Tomczyk details how RIAs have helped shape TD's asset-gathering strategy, working hand-in-hand with TD's retail arm to best serve high-net-worth clients.

The annual RIA conference taking place January 29th to February 1st in Orlando, Florida.

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Video Transcript

The advisers are really shaped our strategy, in particular how we go up the high net worth market, the way we set up all of our business models and our distribution methods. When we're talking of investors, long-term investors or active traders that are more self-directed or definitely one of the very involved in the portfolios and, you know, we can meet that need largely through our retail offerings, but where people want real personalize and ongoing advice that have money, you know, that is-- we just refer that all over to the RIAs and it's been an integral part of our asset gathering strategy. In fact, in 2013 fiscal, they represent a roughly three-quarters of our net new assets. So, we have referred over $25 billion of assets from existing retail clients over to an independent registered adviser. Under our advisor direct program and because when we set with that client and understood what they're really after in their level of affluence, the adviser was the right solution for them. Everything that we do basically is setup to just do the right thing for the client. We don't-- All of our com plans are neutral so there's no complex between keeping in a retailer referring to an adviser. With the $25 billion, you know, it just turned in up to a big source in terms of growing our investment product revenues. And the focus [unk] next year will be to keep up our momentum. We're doing very well. We had an 89% return on our stock in the last 12 months. So, we just wanna keep doing what we're doing. That's obviously working from a strategic perspective. But most of my time and energy, we'll go into a longer term strategy planning and probably into technology. We've made significance investments in technology since I'd been here and I think we're up the cost now where the world is changing. The technology is changing the world, again, whether it's mobile devices, whether it's social media, whether it's big data and analytics and we're trying very hard to work towards that. We do have a strategy there. But it requires a fair bit of time by senior management to make sure they're articulating where we're trying to go and how we're trying to leverage technology in everything we do to try to personalize the experience with a client and personalize the experience for the adviser all through technology and making it simple intuitive and relevant to them.

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