TD Ameritrade Institutional is offering registered investment advisors (RIA) a new marketing toolkit to promote the benefits of working with a fiduciary advisor.
According to a recent advisor sentiment survey conducted by TD Ameritrade Institutional, the top reason investors choose to work with an independent RIA is that RIAs are required, as fiduciaries, to offer advice that is in the best interest of clients (29%) first, before their own interests.
Other top reasons advisors say investors chose an RIA are they like the more personalized service and competitive fee structures (22%) of RIAs and were dissatisfied with full commission brokerages (18%).
"RIAs need to market their fiduciary standard of care every chance they can. Investors increasingly seek objective advice from an advisor who sits on the same side of the table and is required by law to put the clients' interests' first," said Tom Nally, president, TD Ameritrade Institutional. "RIAs' independent, fee-based and fiduciary approach to wealth management is a key consideration when investors are choosing an advisor."
With the kit RIAs can personalize a presentation and a series of advertisements designed to educate investors on the differences between brokers, who are held to the suitability standard, and RIAs, who are held to a fiduciary standard. Guidebooks, white papers and online third-party resources are also available.
TD Ameritrade's survey was conducted by Maritz, a St. Louis-based sales and marketing services company. An estimated 502 RIAs participated in a telephone survey from March 29 - April 9, 2012. RIAs that custody with TD Ameritrade Institutional, as well as other independent RIAs, were asked to indicate the main reason clients chose the RIA model.
TD Ameritrade Institutional is a provider of brokerage and custody services to over 4,000 fee-based, independent RIAs and their clients.