Advisers are notoriously reluctant to adopt new technology, and TD Ameritrade Institutional is responding to their complaints.

Grievances include multiple sign-ons and data integration causing too many headaches. And faced with retyping client and firm details repeatedly into numerous software programs, planners prefer to continue using what they already have.

After hearing grumbles from advisers about the inefficiencies of multiple logins across numerous platforms, TD Ameritrade Institutional revamped its Veo Open Access, and in November rolled out Veo One.

With a single sign-on, the new platform enables advisers to view balances, positions and history in third-party providers' applications in real time.

TD Ameritrade Insitutional's new Veo One allows advisers to log into an array of platforms with one sign-in.
TD Ameritrade Insitutional's new Veo One allows advisers to log into an array of platforms with one sign-in.

“It allows an adviser to have all applications on a single desktop all talking to each other,” says Jim Dario, managing director for institutional product management at TD Ameritrade Institutional, in an interview at the firm’s Jersey City, New Jersey offices on Friday.

Read more: The new war for the adviser desktop

Jim Dario, managing director of product management for TD Ameritrade Institutional.
Jim Dario, managing director of product management for TD Ameritrade Institutional.

“If you make an update, it will then make those same changes throughout all the applications,” Dario adds. “If you’re using a CRM and put in a client’s birthday, it will carry throughout the account record.”

About 200 advisers are now using Veo One and the platform has 14 integrated providers. About 100 new advisers began using Veo One the week of Dec. 7th, according to Joseph Giannone, a TD Ameritrade Institutional spokesman.

“The response has been incredible,” Dario says, although he did not give specific details. There is no extra cost to advisers, “nor do we charge for the integrations.” Clients may have fees levied by the third-party providers.

In May, the company purchased FA Insight, a Tacoma, Washington-based research, benchmarking and consulting firm. TD Ameritrade is now beginning to incorporate some of FA Insight’s decade of industry data, Dario said.

Advisers will receive more details about the platform at the TD Ameritrade Institutional LINC conference in February.

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Chelsea Emery

Chelsea Emery

Chelsea Emery is Editor-in-Chief of Financial Planning, SourceMedia’s flagship brand covering wealth management.