Tuesday, June 30, 2009
TD AMERITRADE Institutional Survey: Independent Registered Investment Advisors Continue to Gain New Clients from Full-Service Brokers
A new survey of independent registered investment advisors (RIAs) released today by TD AMERITRADE Institutional, a division of TD AMERITRADE Holding Corporation, shows RIAs surveyed continue to report strong growth as investors move their money from wirehouses to independent advisors. More than 80 percent of RIAs surveyed report new client numbers are up or remained steady over the last six months as the RIA model continues to build momentum. Half of the RIAs surveyed reported an increase in new clients; many say clients are looking for an alternative to full service brokerages.
Top three reasons new clients chose the RIA model based on the RIAs’ survey responses:
* Dissatisfaction with service, advice, performance or fees at full-service brokerage firms (34 percent)
* RIAs are required to offer advice that is in the best interest of clients (21 percent)
* RIAs offer more personalized service and competitive fee structure (17 percent)
“The survey indicates investors may be looking for a better option for their wealth management needs as they reevaluate their financial situations and start to reenter the market,” said Tom Bradley, president TD AMERITRADE Institutional...
BusinessWire: TD AMERITRADE Institutional Survey: Independent Registered Investment Advisors Continue to Gain New Clients from Full-Service Brokers
Top three reasons new clients chose the RIA model based on the RIAs’ survey responses:
* Dissatisfaction with service, advice, performance or fees at full-service brokerage firms (34 percent)
* RIAs are required to offer advice that is in the best interest of clients (21 percent)
* RIAs offer more personalized service and competitive fee structure (17 percent)
“The survey indicates investors may be looking for a better option for their wealth management needs as they reevaluate their financial situations and start to reenter the market,” said Tom Bradley, president TD AMERITRADE Institutional...
BusinessWire: TD AMERITRADE Institutional Survey: Independent Registered Investment Advisors Continue to Gain New Clients from Full-Service Brokers
Permalink posted by markw @ 4:26 AM 
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