-- TD Waterhouse Institutional's 'Your Roadmap to Independence' is a
Comprehensive, Step-by-Step Guide for Registered Reps Interested in Becoming
Independent Registered Investment Advisors --
NEW YORK, May 24 /PRNewswire/ -- TD Waterhouse Institutional Services, a
leading provider of custodial and brokerage services to independent investment
advisors, introduces "Your Roadmap to Independence." This comprehensive new
program, for registered representatives who want to make the transition to
become independent registered investment advisors (RIAs), is designed to help
them chart their course to independence.
"We recognize that there is a growing trend of registered reps moving to
the independent investment advisor model. We also understand that
transitioning can be a complex and intimidating process. Our program, 'Your
Roadmap to Independence,' was designed to guide registered reps through the
steps they need to take to ensure a smooth transition to independence," said
J. Thomas Bradley, Jr., President of TD Waterhouse Institutional Services.
Mr. Bradley continued, "Once the transition is complete, the newly independent
advisors will have access to our superior customer service and technology
platform."
"Your Roadmap to Independence" is a comprehensive, step-by-step guidebook
outlining the major steps for building an independent business model using the
best practices of RIAs who have successfully made this transition.
Specifically, the guidebook provides a framework for evaluating whether or not
to go independent, a strategic approach to the long-term implications of the
decision, and a roadmap for creating an efficient and effective back office.
TD Waterhouse commissioned Moss Adams, a leading provider of consulting
services, to create "Your Roadmap to Independence." The research and
recommendations are based on both empirical and anecdotal information,
gathered from over 50 interviews conducted with independent advisors who were
formerly brokerage firm employees.
In conjunction with the guidebook, TD Waterhouse and Moss Adams also
developed the Transition Assistant, an online tool that shows the costs and
expenses related to initial start-up costs and balance sheet information. The
information provided for the calculations is based on industry averages and
actual case studies.
TD Waterhouse has a staff that is specifically trained and experienced in
the critical steps it takes to make the transition to an independent fee-based
model. This staff includes salespeople as well as technology and business
consultants who have guided numerous brokers through these business
conversions in the past. These professionals will provide hands-on assistance
with each phase of the transition, from practice management to office tools to
specific training on the TD Waterhouse platform.
"Breakaway brokers represent one of the more interesting developments in
the financial advisory business," said Mark Tibergien, Principal, Moss Adams
LLP, and Chairman of their Securities & Insurance niche. He continued, "As
wire house reps recognize different business models that have a client-centric
orientation, they see an opportunity to both improve their client service and
enhance their practice economics by leaving the employee-based cocoon and
moving into the Registered Investment Advisor platform. The truly
entrepreneurial advisors clearly see the dramatic difference, and
TD Waterhouse's program can help make the decision that much clearer."
The trend of registered reps who look to become independent RIAs is driven
by three factors: first is monetary, as independent advisors have control of
their fees and can decide where to spend their money; second is the
opportunity to build a valuable practice as an owner versus an employee;
finally, and most important, independent advisors are free to customize their
services to best meet their client's needs.
TD Waterhouse research also indicates that over 80% of clients follow
their advisor when they become independent. The "Your Roadmap to
Independence" guidebook contains this and other information.
TD Waterhouse and Moss Adams will be hosting a series of confidential web
training sessions on this subject matter. The next scheduled session is
slated for June 27, 2005 at 5 p.m. ET. To participate in this call, please go
to http://www.tdwaterhouseinst.com and register to attend. For a free copy of
"Your Roadmap to Independence" or for more information, please call 1-800-934-
6124 or visit us at http://www.tdwaterhouseinst.com.
About TD Waterhouse Institutional Services
At TD Waterhouse Institutional Services, we are fully committed to the
individual success of each advisor relationship. At every touchpoint - from
our cutting-edge technology platform to our world-class customer service, from
our seamless account integration process to our value-driven pricing,
TD Waterhouse Institutional Services adds exceptional value to both advisors
and their clients.
TD Waterhouse Institutional Services provides comprehensive financial
services to 2,600 fee-only and fee-based independent financial advisors and is
a division of TD Waterhouse Investor Services, Inc. (member NYSE/SIPC), a
subsidiary of TD Waterhouse Group, Inc. For more information, please visit
http://www.tdwaterhouseinst.com.
About Moss Adams LLP
Moss Adams LLP provides accounting and management consulting services to
advisory firms throughout the US, Canada and Australia. With a particular
expertise in the financial services industry, Moss Adams has provided
consulting as well as traditional accounting services to more than 1,200
investment management firms, broker-dealers and financial advisors on matters
related to compensation, organizational design, valuation, mergers and
acquisitions, financial management, strategic planning and leadership
development. Moss Adams is the eleventh largest accounting and consulting
firm in the U.S., with a staff of 1,100, including 180 partners. For more
information on Moss Adams, visit http://www.mossadams.com/industries/sin.
About TD Waterhouse
TD Waterhouse Group, Inc., provides investors and financial advisors with
a broad range of brokerage, mutual fund, banking, and other consumer financial
products. Worldwide, TD Waterhouse currently has 3.2 million active customer
accounts. TD Waterhouse is a wholly-owned subsidiary of The Toronto-Dominion
Bank (NYSE/TSE: TD) and part of TD Bank Financial Group. Headquartered in
Toronto, Canada, with offices around the world, TD Bank Financial Group offers
a full range of financial products and services to approximately 13 million
customers worldwide. In the U.S., brokerage services are provided through TD
Waterhouse Investor Services, Inc., Member NYSE/SIPC.
TD Waterhouse is not associated with Moss Adams. While deemed reliable,
TD Waterhouse does not guarantee the accuracy or completeness of the program
materials and makes no warranties with respect to results to be obtained from
their use.
SOURCE TD Waterhouse Group, Inc.
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Related links:
http://www.tdwaterhouseinst.com
Company News On-Call:
http://www.prnewswire.com/comp/959635.html
CONTACT:
Media Contact: Jennifer Hallahan of TD
Waterhouse, +1-212-908-7123, JenniferHallahan@TDWaterhouse.com
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