In an effort to help independent advisors find the right firm to partner with, TD Ameritrade announced Thursday it will launch RIAConnect, an advisor matching program that will introduce independent registered investment advisors to established RIA firms.
Through RIAConnect, advisors can join existing RIAs that are vetted using a proprietary selection process. This will enable advisors to achieve scale through strategic relationships, or secure a succession plan.
RIAs that are part of TD Ameritrade program must meet certain standards, including a competitive compensation model, proven advisor transition capabilities, an excellent technology platform and operational support, and strong compliance systems.
"As breakaway brokers continue to seek the benefits of the independent RIA model and a large number of RIAs near retirement, we're seeing unprecedented opportunities to create mutually beneficial relationships between advisors," said Ben Welch, Ameritrade's director of advisor business development. "RIAConnect meets the increasing demand for a more effective way to connect firms and helps support advisor growth potential."