In a bit of a surprise Thursday, TD Ameritrade announced at its National LINC conference in Orlando it has agreed to acquire the research, benchmarking and consulting capabilities of FA Insight, a combination that TDAI says “will give advisors ready access to some of the industry’s deepest and most comprehensive collection of business information.”
According to terms of the deal, TD Ameritrade will acquire the FA Insight brand, more than a decade of survey data and its popular industry studies: People & Pay, an in-depth look at human capital strategies, and Growth by Design, which examines how standout firms can pursue sustainable growth.
In addition, TD Ameritrade Institutional clients will gain access to customized reports giving them better visibility into their business so they can make more informed business decisions.
By having FA Insight’s capabilities in-house, TD Ameritrade Institutional believes it will be in a position to “propel practice management into a new era. Rather than providing advisors access to general, research-based white papers and off-the-rack studies throughout the year, RIAs on the TD Ameritrade platform will have ongoing access to tailored peer benchmarking data and guidance on such key issues as client acquisition, staffing and compensation, pricing strategies, operational efficiency and risk management.”
“Traditional practice management programs offer guidance on how to run a better business, but advisors can read a hundred research reports and still not gain the kind of timely, individualized intelligence they’ll receive through our business performance solutions program,” Jim Dario, managing director of TD Ameritrade Institutional product management. “We are confident that by bringing big data to RIAs, we will amplify our ability to help more clients optimize their performance.”
Tacoma, Washington-based FA Insight was founded by Daniel Inveen and Eliza De Pardo. Inveen and De Pardo will continue to produce research studies and deliver insights to advisers for TD Ameritrade through industry events and consulting assignments.
“We’ve worked closely with TD Ameritrade Institutional for a number of years and we’re confident this combination will make a great fit,” said Inveen, co-founder and president of FA Insight.
FA Insight co-founder Eliza De Pardo added, “By bringing FA Insight’s benchmarking and related consulting expertise to TD Ameritrade, we can now reach a larger audience, supporting more advisors. This will be a great outcome.”
The transaction is expected to be completed by the second quarter of 2016.
