Plans for a Smarter Advisory Platform

TD Ameritrade Institutional revealed plans to develop and launch an “intelligent technology platform” for use by financial advisers.

The firm says it’s hoping to leverage the same technologies that help movie websites suggest content and social networks connect friends to bring more advanced capabilities to its advisory platforms. The effort will involve expansion of TD Ameritrade Institutional’s Veo open-access program, the firm says in a statement, eventually merging the proficiencies of 60 adviser technology providers.

The end product will help advisers save time, improve client service and power future growth, the firm says. The newly conceived Veo dashboard will serve as a sort of mission control, allowing advisers to access multiple technology applications in one place.

Along with addressing common inefficiencies associated with managing disparate technology systems, designers say the dashboard will have the ability to adapt and “learn” the user’s preferences and habits.

“Advisers have told us they want a unified technology experience that maximizes their existing technology and allows them to spend more time serving their clients,” says Tom Nally, president of TD Ameritrade Institutional. “We’re answering by building an adaptable technology platform that can serve as a foundation to integrate today’s adviser applications and position advisers to take advantage of tomorrow’s technology innovations and trends.”

Advisers will have the ability to log in and launch Veo-integrated applications from one screen. Capabilities will include customer relationship management, document management, financial planning, portfolio management and asset trading/rebalancing. Multiple data streams will flow through the dashboard, making it easier to navigate among applications while keeping client information intact.

Updates to information in one application can automatically be applied to other integrated systems, the firm says. Advisers will see clients’ full financial picture on one screen, including financial plans, investment performance reports, real-time account information, relationship-management tasks and administrative activities.

TD Ameritrade says the platform will analyze activity patterns and present relevant information to help advisers and staff work more efficiently. For example, when opening a new client account, the platform will offer advisers steps to minimize the number of clicks necessary to complete a task. Advisers will be able to customize various configurations based on the type of work the user most frequently performs and their preferred device. 

The new Veo dashboard is scheduled for initial launch this summer. The firm says advisers can explore the benefits of integration in its recently published whitepaper, “The Integration Challenge: Harness Your Technology to Drive Productivity and Efficiency.”