TDA Institutional Targets GenX & Millennials

Note from the Publisher:  TD Ameritrade is featured twice on our site today, which we feel indicates they are doing some interesting, noteworthy things.  First, we mentioned their new program for active traders following social media trends on a basket of 25 large caps.  In the news release below, their institutional division has joined forces with XY Planning Network, an organization promoting fee only wealth managers targeting underserved Gen X (ages 35-51) and Gen Y/Millennial (ages 18-35) investors.  We feel both articles indicate that TDA is well in touch with the fee compression facing them from robos and is actively taking measures to add value to their offerings to both retail and institutional clients. 

JERSEY CITY, N.J.–(BUSINESS WIRE)–TD Ameritrade Institutional and XY Planning Network (“XYPN”) are joining forces to send a message to the next generation of registered investment advisors: “We believe in you, and we’re here to support your growth.” Together, the firms have launched an unprecedented effort to foster the growth of fee-only financial planners who specialize in helping younger generations of Americans save and invest for a brighter financial future.

Through the new program, TD Ameritrade Institutional will provide dedicated service and business-development support to XYPN’s membership of more than 250 independent, fee-only financial planners focused on serving Gen X and Gen Y clients. Planners in XYPN employ an innovative monthly-retainer subscription model, sometimes combined with fees based on assets under management, and use service models that cater to the needs of younger investors, such as offering virtual services to connect clients anywhere in the United States.

By combining the reach of XY Planning Network with access to TD Ameritrade Institutional’s state of the art technology and services, the program extends a hand to a generation of investors who may not have substantial assets now but, with the benefit of a sound financial plan, can start down the path to building wealth.

‘There’s a new generation of advisors expanding the ways in which investors can receive personalized, unbiased financial advice,’ said Kate Healy, TD Ameritrade Institutional’s managing director of marketing and its head of next-gen advocacy. ‘We want to be at the forefront of bringing our advanced technology, service and practice management programs to these firms and so help them succeed, because they’re doing the critical work of helping more young Americans build a better financial future.'”

Read Full Press Release at BusinessWire