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September 10, 2019 at 11:11 AM
The number of third-party providers on TD Ameritrade Institutional’s Model Market Center has grown to 35 who are collectively offering a total of 328 investment model strategies, the company said Tuesday.
The firm’s portfolio marketplace has added 24 new model providers, offering an additional 232 investment strategies, since the last time new providers were announced by in May 2018, the company said. Many of the new providers were added in the past week or so, according to the company.
New providers on the Model Market Center not previously announced by the firm included BlackRock, Cantor Fitzgerald Investment Advisors division Efficient Market Advisors and J.P. Morgan Asset Management. However, at least one of the 24 providers — New York-based Global X ETFs — had already announced its addition to the Model Market Center on its own. Among the providers most recently added were Anchor Capital Advisors, Schafer Cullen Capital Management and W.E. Donoghue, according to TD Ameritrade.
Also added to the Model Market Center since May 2018 were: Advance Capital Management, AGFiQ Asset Management, Anfield Capital Management, Aptus Capital Advisors, Auour Investments, Cabana Asset Management, Capital Market Consultants, Clark Capital Management Group, Eagle Ridge Investment Management, First Trust Portfolios, Horizon Investments, Invesco Advisers, Julex Capital Management, KKM Financial, Miller/Howard Investments, Northern Trust Investments, and Zacks Investment Management.
TD Ameritrade continues to look for additional providers and expects to add more in the future, according to the company. But it didn’t say if it was already in talks with any additional providers.
The Model Market Center had a soft launch in fall 2017 before moving to a wider launch in early 2018. It launched as part of TD Ameritrade’s iRebal trading and portfolio platform and initially included products from State Street, Goldman Sachs, WisdomTree, Russell Investments and four other firms.
There was a lot of interest in the Model Market Center early on, Danielle Fava, director of innovation at TD Ameritrade Institutional, told ThinkAdvisor in an interview after the launch. “We’ve had more than a third of advisors using the iRebal sign up for this, or 1,000-plus advisors,” she said at the time.
