TD Ameritrade integrates Morningstar's Advisor workstation with Veo back office

Source: TD Ameritrade

TD Ameritrade Holding Corporation (NASDAQ:AMTD) announced today that TD Waterhouse Institutional Services is offering independent advisors access to the Morningstar Advisor Workstation, TD Waterhouse Edition, which is now fully integrated with Veo, TD Waterhouse's back-office platform.

By synthesizing the Morningstar Advisor Workstation, TD Waterhouse Edition, with Veo, advisors and their staff can reduce the risk of errors and save time and effort by avoiding the input of data from multiple sources.

"Advisors deserve easy access to the industry's best products in a format that helps them maximize efficiency," said Brian Stimpfl, senior vice president of business solutions for TD Waterhouse Institutional Services. "That's why we built Veo to be so flexible. In addition to offering our own proprietary solutions, we can readily customize industry-leading applications to fit our platform."

By integrating Morningstar Advisor Workstation with Veo, advisors are able to spend more time serving their clients while realizing meaningful cost savings. Advisors have told TD Waterhouse that they spend up to 500 hours per year, or about 10 hours per week, updating client data in disparate planning and analysis tools.

The integration allows subscribers to seamlessly import client, portfolio and custom household data into Advisor Workstation. Once imported, advisors and staff members can quickly analyze portfolio data and prepare professional reports for their client meetings.

The Morningstar Advisor Workstation, TD Waterhouse Edition, is offered at a special rate to advisors in several flexible packages, ranging from a basic solution of research and client portfolios to a broader package including sales and planning tools. In addition to the "Clients & Portfolios" module, the basic solution encompasses a full range of Morningstar research databases including stocks, mutual funds, variable annuities, closed-end funds and ETFs. The more comprehensive edition includes a variety of tools that help advisors analyze and construct portfolios, create customized hypotheticals and assess risk tolerance.

The integration allows advisors to:

  • Gain direct access to Advisor Workstation, TD Waterhouse Edition, from Veo
  • Create custom households on Veo for easy import into Workstation
  • Review reports with up-to-date account information as provided by Veo
  • Eliminate manual data entry, saving advisors hours of time, effort and money
  • Improve speed and quality of service to clients
  • Remove data maintenance and integrity issues that occur when working with multiple sources of client data

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