TD Ameritrade has kicked off a crowdsourced fintech competition to develop a new generation of tools for Registered Investment Advisors, with $100,000 up for grabs for the top three submissions.
Called Innovation Quest, the competition is designed to find the best emerging technology ideas that can give independent RIAs a competitive edge through the use of advanced technology tools.
“To meet the demands of the next generation of investors, the RIA industry needs a healthy dose of innovation. And while we’ve developed some of the industry’s best technology tools over the years, we also know that good ideas can come from anywhere,” says Jim Dario, managing director of product management at TD Ameritrade Institutional. “With this competition, I’m excited to learn where the market’s future-thinkers will take us and see their vision for the next generation of this industry.”
Open to any US resident, 18 years or older, the top three finalists will be announced on 15 October. 15, 2018. Each finalist will receive $25,000 to develop their ideas, including a video and proof of concept to be presented during TD Ameritrade Institutional’s National LINC conference. The winner will receive an additional $25,000.
“RIAs need game-changing technology to elevate the client experience and run more efficient, scalable businesses,” says Dario. “We hope to open the floodgates on the creativity that’s driving fintech innovation and get behind ideas that can transform the way RIAs do business.”