Products July 26, 2013

TDA Makes Its Mark on Adviser Tech

TD Ameritrade Institutional brings its brand to technology for advisers, with a new "Veo Integrated logo."
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The branding makes it easy for registered investment advisers (RIAs) to identify technology providers that have built integrations with TD Ameritrade Institutional’s Veo  adviser platform. RIAs who are shopping for technology can look for the logo on marketing materials including websites, brochures and videos from participating technology providers.  One goal is to improve the technology experience for RIAs by integrating common adviser applications with the Veo system.

The “Veo Integrated” logo is part of a larger effort to raise awareness and adoption of the technology integrations that have been delivered to RIAs through the Veo open access initiative. The industry-wide effort kicked off in late 2010 to help advisory firms maximize their technology and streamline day-to-day operations. Since the platform’s inception late in 2010, TD Ameritrade has linked it to a range of products and technology, including iPads and mobile tools. (See “TD Ameritrade Institutional Expands Mobile Tools.”)

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TD Ameritrade Institutional is continuing to expand the list of Veo open-access tech providers and to deepen existing integrations with Veo. Overall adviser adoption of Veo open access integrations is up 104% in 2013. The customized Salesforce CRM app is among the most widely adopted, with more than 1,000 users.

All third-party technology providers that participate in the Veo open access initiative must meet security requirements and deliver a specific quality of service to advisers, according to Jon Patullo, managing director of technology of TD Ameritrade Institutional. “It’s important that firms eligible to display the ‘Veo Integrated’ logo demonstrate a high standard of care and commitment to RIAs,” he said.

Fifty technology providers including customer relationship management, financial planning, portfolio management, rebalancing and document management applications have VEO integration. A list of providers is available here.  

The Veo Integration Analyzer tool helps advisers identify levels of integration between their current applications, or applications they may be considering for purchase. The interactive guide allows advisers to create and compare unique scenarios. More information is here.

 

 

Data & Research July 26, 2013

AARP, U.S. Chamber Call for Retirement Savings Solutions

The U.S. Chamber of Commerce and AARP urged policymakers to act on solutions that will help more Americans build a more secure retirement.
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At a solutions forum held at the National Press Club in Washington, D.C., Debra Whitman, AARP executive vice president for Policy, Strategy and International Affairs, said, “Unless we reverse current trends, the majority of Americans will face a grim future in retirement. That is why we are calling today for expanding access for workers to save for retirement and for improving the tax incentives that help encourage them to save.”

Randy Johnson, the U.S. Chamber’s senior vice president of Labor, Immigration and Employee Benefits, added, “With the unprecedented growth in the number of Americans who are at or near retirement age, it is clear that an emphasis on increasing retirement savings will not only contribute to individual retirement security but also to America’s economic security.”

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The groups urged action to:

  • Expand access for workers to tax-deferred payroll deduction retirement saving plans at their place of work, while recognizing and minimizing any additional burden these plans place on employers. Payroll deduction retirement saving, especially when combined with automatic enrollment and automatic escalation, has proven to be the most efficient and effective method to increase participation and retirement savings.
  • Keep and enhance incentives to save for individuals at all income levels while targeting in particular those low- and moderate-income earners who have fewer opportunities and resources to save. Increasing private retirement saving is critical to both overall economic growth and to the future income security of millions of Americans.
  • Increase education efforts regarding the need for working Americans to save sufficient amounts for retirement and how to most effectively do so. Many Americans with the ability to set money aside simply do not save or save far less than they should. Improved and sustained educational efforts can help address that challenge.

 

Lawmakers have made proposals to change the tax treatment of retirement savings as well as cap the amount of savings individuals can accumulate. Industry groups have urged caution against these efforts (see “ERIC Urges Caution on Tax Treatment of Retirement Plans”).

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