TD limits number of advisers invited to conference — and not everybody likes it

Only custodial clients with $75 million or more in AUM will receive an invitation

Oct 10, 2018 @ 5:37 pm

By Ryan W. Neal

Advisers with less than $75 million in assets under management are not being invited to attend TD Ameritrade Institutional's National LINC conference in February — and it's rubbing some of the custodian's RIA clients the wrong way.

TD usually opens its annual conference to any advisers who custody with the firm. But space constraints at the conference venue in San Diego this year and the growing number of advisers on the TD platform forced the firm to institute new criteria to limit the size of the conference.

But some advisers wondered if the decision ran counter to TD's message of supporting young and growing independent advisers. The firm named Kate Healy as managing director of Generation Next in 2017 to oversee the firm's initiatives to support and guide professional development of the next generation of advisers. The firm also has a partnership with the XY Planning Network, which consists of many financial planners with less than $75 million in AUM.

Sherman Wealth president Brad Sherman found out he wouldn't be getting an invitation Wednesday morning and took to social media to complain.

"What happened to supporting next gen?" Mr. Sherman tweeted.

"I found out the same thing," responded Adam Cmejla, founder of Integrated Planning & Wealth Management. "Oh well. It puts them in even more of a utilitarian mindset for me, which by default just commoditizes them even more. Translation: not near the stickiness factor if I ever consider a move."

Mr. Sherman and Mr. Cmejla both made clear that they understood the decision, weren't offended and hadn't even decided yet if they could attend LINC.

"I get it; they have boundaries," Mr. Cmejla said. "Just a bit surprised that it's an 'either you have $75 [million] or we're not going to send you an invite.'"

Senior strategist of institutional communications and public affairs Joseph Giannone said limiting the number of attendees will help the firm invest in the quality of speakers and content.

"Each year, we review the entire event offering and we establish invite criteria in support of our strategy, including the size of the business an advisor has on our platform," Mr. Giannone wrote in an email." For us, two important considerations will always remain front and center. Keeping events cost-effective so we can continue to offer them at no cost to our clients, and preserving an exceptional experience for those attending."

Mr. Giannone said TD will still work with small firms and help them grow. The firm also responded to concerned advisers on Twitter and said it is "looking for new ways to deliver the great content and keynotes to all of our clients, especially those emerging advisors looking to grow."

That won't stop some advisers from being disappointed they'll have to miss the musical guest at the 2019 National LINC conference.

"That explains the reason for the no email and no reply back from my rep, sad!" tweeted financial planner George Papadopoulos. "What happened to loyalty? ... And I really wanted to go see Weezer!"


What do you think?

View comments

Most watched


Young professionals see lots of opportunity to reinvent the advice experience

Members of the 2019 InvestmentNews class of 40 Under 40 have strategies to overcome the challenges of being young in a mature industry.


Young advisers envision a radically different business in five years

Fintech and sustainable investing are two factors being watched closely by some of the 2019 class of InvestmentNews' 40 Under 40.

Latest news & opinion

New Jersey fiduciary rule: Pressure leads to public hearing, comment deadline extension

Industry push results in chance to air grievances on July 17 and another month to present objections.

InvestmentNews' 2019 class of 40 Under 40

Our 40 Under 40 project, now in its sixth year, highlights young talent in the financial advice industry. These individuals illustrate the tremendous potential of those coming up in the profession. These stories will surprise, entertain, educate and inspire.

Galvin to propose fiduciary rule for Massachusetts brokers

The secretary of the commonwealth is proposing a fiduciary standard in response to an SEC investment-advice rule he views as too weak.

Summer reading recommendations from financial advisers

Here are some books that will keep you informed and entertained during summer's downtime

4 strategies for Roth conversions

There's never been a better time to do a Roth conversion, and here are several ways to go about it.


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 It'll help us continue to serve you.

Yes, show me how to whitelist

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


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print