Page 3 - Investment Advisor - December 2021

12.21

NEW THIS MONTH @ THINKADVISOR.COM TECHCENTER LIVE EVENTS WEB EXTRAS DIRECTORIES BLOGS

Schwab: What Advisors Can Expect From TD Ameritrade Integration

Charles Schwab is preparing the company is “deep in the
to bring TD Ameritrade clients process of integrating much
to its platform, and the com- of TD Ameritrade’s core trad-
pletion of the integration of ing technology, including the
TD Ameritrade into Schwab’s popular” thinkpipes and iRebal
business is still on track to be portfolio rebalancing capabili-
completed within 36 months, ties that many advisors use.
according to John Tovar, Schwab is also “hard at
managing director of wealth work combining the popular
management services for TD features of both” Schwab
Ameritrade Institutional. Advisor Center and TD
“As far as the actual con- Ameritrade’s Veo One plat-
version date … when we will forms “into a modernized,
be moving the accounts and industry-leading digital expe-
assets from TD Ameritrade rience,” Hathi told viewers.
over to the Schwab platform, Company executives have
we’re still targeting that sec- previously said the goal is to
ond half of 2023,” he said in combine the best elements of
the virtual Schwab Impact each firm’s platforms.
conference session “Integration Update: numbers will be assigned,” Tovar noted. The company also will “continue to
Preparing TD Ameritrade Advisors” in Additionally, “as we get closer to the invest for the future to ensure that we
October. “Our plan is to begin communi- actual conversion date … there’ll likely can meet your needs well past conver-
cating and getting the integration going be a brief blackout on certain functions, sion in areas like personalization, data
from an advisor perspective in earnest in such as updating the account informa- integration and privacy and security,”
the second half of 2022.” tion on the platform,” he warned TD she said.
He added: “From an integration stand- Ameritrade advisors. But trading and
point, we are still really deep into the “all Move Money functionality will not More Positive Digital Adoption Signs
conversion planning process and our pri- be disrupted through this transition pro- “We continue to see unprecedented digi-
mary focus is to make this as seamless a cess,” he said. tal adoption, prompted by the pandemic
transition as possible.” Although TD Ameritrade client but actually continuing at a quicker pace
The company has an “unwavering account numbers will be changed when than we would have seen just even a
commitment to all advisors, as we go shifted over to Schwab, he said “all of the couple of years ago,” Hathi added.
through this process, that we will ensure attributes on the existing client accounts During the pandemic, Schwab’s Digital
that you are prepared, well-informed and will come over,” including standing Account Open tool “saw a 70% jump in
we have informational and training mate- instructions and transactional history. adoption,” she said. There was a also a
rial well in advance of conversion,” he To further ease TD Ameritrade advi- 40% increase in application program-
told advisors. sors’ minds, he said: “If we make any ming interface (API) usage by advisors in
Schwab completed its acquisition of decisions that will impact the advisor 2020, she noted.
TD Ameritrade in October 2020. or their end clients, they’ll have plenty The company predicts that growth will
of notice.” continue and RIA firms will proceed to
Expect ‘Brief Blackout’ Diving deeper into the integration pro- increase their tech budgets and expand
When accounts are moved over from TD cess, Neesha Hathi, chief digital officer their use of digital solutions with clients,
Ameritrade to Schwab, “new account and managing director at Schwab, said she said. —Jeff Berman
FOR ALL THIS AND MORE WEB EXCLUSIVE CONTENT PLEASE VISIT THINKADVISOR.COM

INVESTMENT ADVISOR (ISSN 1069-1731) is published monthly ALM Media, LLC, 4157 Olympic Blvd. Ste 225, Erlanger, KY 41018-3510. Periodical postage paid at Covington, KY and additional mailing offices. Subscription Rate is $79 per year.
POSTMASTER: Send all subscription orders, changes of address and correspondence to Investment Advisor , PO Box 3136, Northbrook IL 60065. Allow four weeks completion of changes

DECEMBER 2021 INVESTMENT ADVISOR 1