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We are excited to share a collection of relevant, timely, and insightful articles that can help you grow and strengthen your business. TD Ameritrade and leading industry experts will be contributing their unique perspectives on the challenges and opportunities that RIAs are facing today. Thank you for joining our community and we look forward to connecting with you!

  • by George Tamer
  • Managing Director, Strategic Relationships, TD Ameritrade Institutional

We Asked over 300 RIAs How They Spent Their Summer

With summertime coming to a close and school starting for many of our children, I recalled the dreaded “summer vacation essay” we each had to write when returning to class in the fall. Most of my summers were spent going to the beach or camp, and that was reflected in my essay. Yet there was always that one classmate who wrote about going abroad or to an exotic location that made everyone in the class envious. . . .

Twice a year, we survey 300 of your peers on timely topics. In our Midyear Sentiment Survey, we asked RIAs how they spent their summer, how they’re feeling about the economy and policies, and how they managed their intern programs.

Here are your fellow RIAs responding to how they spent their summer months. All we can say is #motivationgoals.

Not surprisingly, RIAs reported that they don’t slow down during the “slower” summer months.

“Summer may conjure up images of beaches and barbeques, but for independent advisors, it’s business-as-usual,” said Tom Nally, president of TD Ameritrade Institutional, provider of brokerage and custody services to more than 5,000 independent RIA firms. “RIAs are using this time of year to stay connected to clients, improve their business, and onboard young talent.”

Summer is a great time to focus on your firm’s strategic planning while most of your clients take vacations and work volumes are lower. In fact, four in 10 RIAs say they tackle most of their strategic planning during the summer, and 36 percent spend more time on technology issues. Roughly 30 percent devote more energy to staff training and development.

Being accessible to clients: Three-fourths say they maintain the same level of contact with clients in the summer—or higher. Though nearly half of RIAs say they take between one and two weeks of vacation, 67 percent check in with the office at least once a day, and 16 percent say they are always working, even if not physically present in the office. Technology efficiencies over the past decade, including video conferencing, cloud computing and social media, allow each of us to unplug while still being connected to the office and client needs! We now have the ability to review client portfolios over coffee, hit the beach or mountains during the day, and review client communications after dinner—all from a great vacation destination.

Everyone deserves to unplug and recharge now and again. I hope you were able to find time to enjoy some summer relaxation!

Stay tuned for Part Two: RIAs Confidence in the U.S. Economy and Policy

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