Tag Archives: TD Ameritrade

Why are TAMPs a Hot Topic at TD Ameritrade Institutional National LINC 2015?

2015 is the year of the next generation TAMP.  There’s a reason why advisors are packing the room at the TDA national conference to learn what these TAMPS have to offer.  A recent article in Think Advisor, Scott Martin poses the question: will TAMPs take the upper hand in 2015?  According to Martin, 87% of all large-cap equity managers lagged behind the benchmark in 2014.  And while some best-of-class managers are still “squeezing alpha out of a tired bull,” the cheaper route might be to simply hand off these pure index products to a specialist; the kinds of specialists that can be found populating TAMPs.

As Martin points out, on paper a TAMP sounds perfect.  With advisors looking for ways to outsource investments and asset managers eager to sell their expertise, TAMPs offer an attractive solution for all parties involved.  However, with so many options out there it can be hard for advisors to cut through the noise and find the outsourcing partner that’s right for them.  Says Martin: “The old question of ‘why’ to outsource the portfolio has been answered.  The big question now is ‘who’ advisors want to partner with.”  So far, outside of the huge all-in-one platform providers, the field is wide open.  Recognizing that not every advisor is ready to outsource everything all at once, they are even allowing for account-by-account conversions.  So what do advisors have to lose?

The sticking point for many advisors can be delegating the selection of securities.  Advisors, Martin says, need to let go. “With the right program, even the due diligence is built in, so there’s not even any need to pick the right managers.”  And this is a key point: outsourcing to a third party can free up advisors to become relationship managers who focus on client-facing and business building activities.  This union is quite a bit more profound than simply adding on additional technology.  As Paul Ahern of Winslow Capital puts it, “…they are committing to an equivalent of a restructuring of their wealth management business model.  If a TAMP is only ‘bolted on’ to an existing advisor product set and just another product among many, then all the advisor has achieved in increased complexity and cost.”

There is still a window open for advisors who haven’t outsourced some or all of their investment management to do so and still gain a competitive edge.  With multiple TAMPs still battling it out, RIAs have both ample selection and a buyer’s market.  Consider what a provider like Adhesion Wealth has to offer.

Adhesion allows advisors to focus on their clients and business development and outsource the investment management nuts and bolts.  With a varied selection of world class investment strategists and asset managers, Adhesion gives clients the benefit of best in class investment expertise and powerful resources to fit any investment approach.

Check out our Adhesion Portfolio Solutions video to learn more.

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Breakout Growth for RIAs with Dan Klein

We hope you enjoyed our latest webinar, “Breakout Growth for RIAs” with TD Ameritrade’s Dan Klein.  In case you missed it, check out the replay here.

Dan Klein delivered multiple key strategies and insights into achieving breakout growth.  Here are just a few of the highlights.

Dan Klein pointed out that delivering high impact events is an important way to initiate your growth strategy.  These events allow you to connect with prospects and clients around their topics of interest and cement new relationships.  He listed some great ideas for events you can hold for your own clients and prospects.

  • Cultural: trip to an art museum, hold cooking classes, wine tastings
  • Charitable: get clients to bring in donations of clothes or food (this can also be done in conjunction with another event),  work together in the community
  • Entertainment/recreational: host a private showing at a movie theater, car racing, fashion show, question/answer session with a local author, bowling
  • Health and Wellness: hold a flu shot clinic, spa day, invite a dietician to discuss healthy living

Dan Klein also discussed how we should be leveraging our clients’ contacts to invite prospects to our events.  Instead of using “who do you know” language, try using the approach of “I see that you know.”  Use Linkedin to find out who your clients know, and take it from there.

Many RIAs are challenged to find the resources, and specifically the mental shelf space, to build a strong marketing culture.  Ask Ty McDaniel, Managing Director and Head of Sales, about our outsourcing and practice management solutions.  Email him here.

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