TD Ameritrade Institutional is looking to correct the gender imbalance in the financial services industry by expanding resources and opportunities and, more generally, making the industry more attractive to women.
On Thursday, TD Ameritrade Institutional, a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation, announced it launched an initiative to support the professional development of women advisors and provide independent registered investment advisors the tools they need to effectively market their services to female investors.
This initiative will provide practice management expertise and networking and professional development opportunities targeted specifically at women in financial services, said Tom Bradley, president, TD Ameritrade Institutional, in a press release: “We are looking to cultivate current and future generations of women advisors through a focused and comprehensive effort to encourage and support their leadership and business development.”
Meanwhile, TD Ameritrade Institutional is also working with successful women advisors to create mentoring and coaching programs. The TD Ameritrade Institutional Women’s Advisory Panel will serve as a sounding board for feedback on relevant issues and challenges facing women advisors and investors.
“Women have historically been underrepresented in the advisor ranks; we’re working to change that. And women have also been underserved as investors by the financial services industry as a whole even though they control $14 trillion in assets,” Bradley said. “Advisors who recognize and effectively respond to the growing influence women have over household investing decisions will be well-positioned to gain market share and differentiate themselves in an increasingly competitive environment.”
A TD Ameritrade survey of more than 1,000 investors found that women feel they need professional investment guidance than men. Targeted business development and marketing resources will help advisors develop practical skills to meet the needs and expectations of women investors, the company said.