Products October 19, 2010

TD Ameritrade Programs Help RIAs Grow Retirement Business

New services from TD Ameritrade Institutional are designed to help independent registered investment advisers (RIAs) and third-party administrators (TPAs) grow their retirement plan business and better meet the needs of plan sponsors.
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New corporate retirement plan solutions will include:

  • A TPA referral network that matches RIAs with qualified independent TPAs and recordkeepers
  • A 401(k) educational program to assist independent RIAs in starting, growing, and managing their retirement plan practice. RIAs can learn different ways to attract and retain retirement plan business. For the breakaway brokers that may be working with bundled providers, this program can provide the knowledge and tools they need to present the alternative of an unbundled approach to their clients, TD Ameritrade said.
  • The Trust Business Development Team of consultants consolidated retirement and adviser sales teams, leading to greater coordination in uncovering opportunities for advisers and TPAs.
  • The ability to manage self-directed brokerage accounts (SDBAs) within a retirement plan directly through Veo, TD Ameritrade Institutional’s adviser trading platform. The new SDBA capability in Veo provides RIAs the ability to electronically trade securities, rebalance portfolios, deduct management fees, and automatically download SDBA account information into their portfolio management and accounting systems.

According to a press release, these programs are intended to enhance TD Ameritrade Institutional’s current open architecture platform, which offers retirement plan advisers and their clients greater investment choice including thousands of mutual funds and fee transparency.

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Deals & People October 19, 2010

Genworth to Acquire Alternative Investment Management Firm

Genworth Financial, Inc. agreed to acquire the Altegris companies, a provider of alternative investments including hedge funds and managed futures products, representing approximately $2 billion in client assets.
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Altegris provides clearing services to accounts representing $800 million in institutional assets. Genworth Financial Wealth Management, based in Pleasant Hill, California, is a provider of open-architecture product solutions and managed account services to independent financial advisers.A press release said GFWM and Altegris combined will have approximately $23 billion in assets under management.

“The addition of Altegris will provide independent financial advisers an expanded set of offerings that are integral to serving the needs of their clients,” said Gurinder Ahluwalia, President & CEO of GFWM, in the announcement.  

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Under the terms of the agreement, Genworth will pay approximately $35 million at closing, with additional performance-based payments.

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