Trust Company of America, a firm that provides custody, trading, and back office services to fee-based and fee-only financial advisors through their proprietary technology platform will soon announce the release of TCRepresentative, a new service program targeting advisors who sell through representatives.
According to TCA, the fastest-growing segment of their business is servicing advisors who sell through networks of representatives.
TCRepresentative, tentatively scheduled for release in early November, is a comprehensive set of tools designed to offer advisors maximum flexibility in managing and servicing their representatives. Its primary strengths are in the areas of modeled trading strategies and administration, which allows advisors to provide an efficient, scalable business model capable of supporting rapid growth.
At the firm level, TCRepresentative offers tools such as detailed rep
analytic reports, individual rep activity reports, fee reports, and
email notification of client deposits. For the representative, the
platform offers real time position information, the ability to
graphically display the portfolio by multiple parameters, time weighted
returns, historical account information, indexed client statements and
performance reports on CD's, copies of account correspondence, and
email notification of client deposits.
"Our TCRepresentative program is a must have for any investment advisor who sells through some type of representative, such as registered reps, wholesalers, solicitors, other advisors, and even banks", said Terry Reitan, President and CEO of Trust Company of America. Originally, TCA tried to meet the needs of these advisors by offering customization to individual firms; they are now leveraging the knowledge gleaned from those engagements in order to provide additional benefits to all of their customers who sell through reps.
TCRepresentative is designed primarily for those firms that want to centralize the trading, administration, and oversight of client portfolios at the firm level. For those firms who want to allow representatives the ability to administer the accounts, an advanced version of TCRepresentative is available. Advanced offers many of the advantages of a turnkey system, while allowing the representative to play a more active role in the investment management process. Additional capabilities the advanced platform offers reps include the ability to establish client accounts, the ability to apply strategies to client portfolios, the ability to apply fee schedules to accounts, and the ability to obtain a range of on-demand account management reports.
Further information about TCA and their offerings for advisors can be found at www.trustamerica.com/investment-advisor.