Also planned after the initial rollout is an operational efficiency tool to spot common operational errors advisors and their staff may be making.
TD technologists see the new system as ultimately being able to proactively spot problem areas or opportunities. For example, a smart database might be able to flag behaviors that indicate a client may leave. Advisors are “not always aware of assets that are going out the back door,” Ruda said.
Will VeoOne Analytics give TD Ameritrade a leg up on competitors?
Maybe. “But I’m sure everyone else will be taking a crack at the [big data] bat,” Nally told Financial Advisor magazine. So time will tell.
Nally added that data from the firm’s 115 technology partners who have integrated with VeoOne might provide insights that competitors don't have.