According to TD Ameritrade Institutional’s Advisor Sentiment Survey, the top reason investors work with RIAs is that they are required as fiduciaries to offer advice that is in the best interest of clients, 29% of respondents said. Other responses were more personalized service and competitive fee structure offered at an RIA firm (22%) and dissatisfaction with full-commission brokerages (18%).
RIAs can use the toolkit to personalize a presentation and a series of advertisements designed to educate investors on the differences between brokers and RIAs. Guidebooks, white papers and online third-party resources are also available to assist advisers in their efforts to differentiate and market their businesses. RIAs have access to end-client communications to help provide clarity on the account protections of assets held with TD Ameritrade.
“RIAs need to market their fiduciary standard of care every chance they can. Investors increasingly seek objective advice from an adviser who sits on the same side of the table and is required by law to put the clients’ interests first,” said Tom Nally, president of TD Ameritrade Institutional.
TD Ameritrade Institutional’s Adviser Sentiment Survey was conducted by Maritz Inc. by telephone from March 29 to April 9, with 502 RIAs participating. RIAs who custody with TD Ameritrade, as well as other independent RIAs across the country, were asked, “What is the main reason your new clients chose the RIA model?”
More information on the toolkit is available here.