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TDA4advisors Blog

We are excited to share a collection of relevant, timely, and insightful articles that can help you grow and strengthen your business. TD Ameritrade and leading industry experts will be contributing their unique perspectives on the challenges and opportunities that RIAs are facing today. Thank you for joining our community and we look forward to connecting with you!

  • by Greg Menefee

Finding More Time

Head of Strategic Relationship Consulting, TD Ameritrade Institutional

Head of Strategic Relationship Consulting, TD Ameritrade Institutional

It’s 10:30 p.m. and I just got home from the gym— which seems typical these days. Having three- and six-year-old boys and a career that I really enjoy, there isn’t much free time between my youngest waking at 5:00 a.m. and when I return from the gym at 10:30 p.m. I know many of the advisors I work with feel the same way. According to the FPA Research and Practice Institute™, only 13% of advisors feel they are in complete control of their time.¹ What is their greatest perceived obstacle when it comes to feeling more productive? Trying to do too much.¹

Seeing how college is years away for my children, I started thinking about how might I be able to recoup a few hours in the day. I quickly realized there are two options that advisors have within their business that are not currently available to me— delegating and outsourcing. I can’t afford to outsource the process of herding cats to school, and if I try to delegate one more thing to my wife, I will likely find myself with all sorts of free time alone.

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  • by Greg Menefee

Incremental Efficiency

Greg Menefee, Head of Strategic Relationship Consulting, TD Ameritrade Institutional

Greg Menefee, Head of Strategic Relationship Consulting, TD Ameritrade Institutional

Running has always been something that I despised. Nothing in the gym has been more demoralizing than stepping onto the treadmill with intentions of running a few miles, only to be completely gassed in less than five minutes. With each attempt I ultimately achieved the same result; sore the next several days followed by a month off. While at a party this past summer I met the creator of a running app who claimed you could go from the couch to running a 5k in five weeks by following his program. I was skeptical, but gave it a shot. On June 21st I completed the first “run” in the app. On October 18th, less than four months later, I completed my first sprint triathlon.

The day after the race I flew to San Francisco where Lindsay Troxell, a Senior Business Performance Consultant with TD Ameritrade Institutional, facilitated a workshop on efficiency, giving advisors an opportunity to come together to discuss how their teams could be more productive. As she was setting the stage for the day she said something that hit home with me and resonated with the advisors in the room; “change is hard, and it hurts because it takes energy and time”. I believe this is why many firms stick with the status quo, and why I could never get into running.

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  • by Skip Schweiss
  • President, TD Ameritrade Trust Company
    Managing Director of Advisor Advocacy & Industry Affairs

Thinking about outsourcing your Chief Compliance Officer role? Read this.

Skip Schweiss, Managing Director, Advisor Advocacy & Industry Affairs, TD Ameritrade Institutional

Skip Schweiss, Managing Director, Advisor Advocacy & Industry Affairs, TD Ameritrade Institutional

The Securities & Exchange Commission (SEC) has become aware of many investment advisers outsourcing their Chief Compliance Officer (CCO) role to compliance consulting firms or securities law firms. These firms may provide services such as updating the RIA firm’s compliance manual, preparing regulatory filings, and conducting mock exams, among others.  It is estimated that over one-third of RIA firms outsource their compliance function.

The SEC’s Office of Inspections & Examinations (OCIE) has conducted a sweep exam process in order to learn more about how these outsourced relationships work. After conducting 20 such exams of RIA firms, it issued a Risk Alert on November 9th.

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