TD Ameritrade Institutional said Thursday that it plans to roll out a series of analytical tools and dashboards for advisors through its CRM platform, Veo One.
The new service, Veo One Analytics, will include two new offerings, the first of which will be the FA Insight benchmarking tool giving advisors access to FA Insights’ white papers and benchmarking capabilities; the second will be giving RIAs access to custom reports, diagnostic tools and dashboards.
Veo One Analytics – what TD calls “an on-demand digital dashboard” – will be coming to Veo One later in 2017.
“We’ve got big plans for big data,” Tom Nally, TD Ameritrade’s president, said during his opening remarks at the national LINC conference.
John Ruda, TD Ameritrade Institutional managing director of Strategic Planning and Analytics, said during a press briefing at the LINC event to think about Veo Analytics “as essentially a collection of different types of analytics experiences that will grow over time.”
“We’ve got all this real estate that we’ve got places to start slotting in modules or experiences around different targeted content areas or different objectives that advisors might have. We can use data analytics to help them understand that issue, find an opportunity or challenge, and it will grow over time.”
Some people are “data geeks,” and love getting their hands on and combing through while others “just like knowing what they need to know. So we’re trying to keep it very simple.”
TD Ameritrade “wants to give people context for their results, and we think benchmarking is a good way to do that,” Ruda said. “Whether using industry data through FA Insight or using data across the 5,700 advisors across our platform to help advisors understand how they compare, we’re going to give them that information in context with other advisors and their historical performance.”