A service program specially designed toprovide valuable tools to advisors who sell through representatives
DENVER (November 15, 2006) – Trust Company of America, provider of custody services to fee-based registered investment advisors, today unveiled TCRepresentative, a comprehensive set of tools designed to
help advisors effectively manage and service their network of representatives while structuring the
relationship to best fit each firm’s unique business needs.
TCRepresentative is a natural extension of Trust’s services offered to advisors. Trust’s state-of-the-art, strategy-based trading caters to advisors who want to build scalable business models. The benefits of a strategy-based trading are twofold: to ensure all clients – regardless of account size or the timing of an account review – benefit from being treated equally, and to provide efficiencies to support substantial growth. The greatest concentration of growth among Trust advisors is with those advisors who sell through representatives.
“Our TCRepresentative program is a must-have for any investment advisor who sells through some type of representative, such as registered reps, wholesalers, solicitors, other advisors, or even banks,” said
Terry Reitan, Trust Company of America’s President and CEO. “We listened to our advisors and delivered customizations to help support their representative-based business models. We are now
bundling these tools in a comprehensive program to provide the same benefits to all advisors who sell
through representatives.”
This collection of tools provides time-saving benefits to both the advisor and the representative. Extensive
management reports allow advisors to more efficiently oversee representatives by focusing their energies on areas more likely to maximize their returns. Comprehensive, real-time information allows
representatives to save time on administrative duties and focus on higher-level jobs like ensuring client
satisfaction and growing the business.
An advisor also has the option to increase the involvement of a representative on a client account. Specifically, an advanced implementation of TCRepresentative provides advisors with the ability to push account administration duties to the representative. This cuts the advisor’s administrative and operations
costs by offering a complete turnkey solution. Representatives, meanwhile, have increased involvement in
investment decision-making and account management, placing them into a stronger position of trust with their clients.
Trust’s TCRepresentative program includes the following features:
Tools for advisors:
- Interactive representative analytics application – Allows advisors to drill down into their representative activities, perform analysis, and get a comprehensive view of their sales results (available early 2007)
- Representative activity reports – Daily, weekly, bi-weekly or quarterly, Trust provides 14 different management metrics on representative activities
- Fee breakdown reports – As an extension of Trust calculating, accessing, and delivering management fees to the advisor, the fee breakdown report helps advisors calculate subsequent payments to their representatives
- Email notifications of client deposits – Provide awareness of new cash and allows the advisor to take action to recognize the representative for the new business
Tools for representatives:
- Real-time position information – Access to all account information, including current positions, pending activity, total return, transaction history, asset allocations, distributions, and more
- Quick-view pie chart of account holdings – Sort by asset class, asset sub-class, or by strategy
- Time-weighted return information by an entire book of business, groups of accounts or individual accounts
- Historical account information back to the account’s inception at Trust, including snapshots of accounts and complete transaction details
- Online access to 12 months of client statements
- Client statements and performance reports on indexed CDs for easy look-up
- Copies of account correspondence including welcome letters, statements and deposit confirmations
- Email notifications of client deposits – Provide awareness of new cash and allows the representative to take action to recognize the client for their additional contributions
TCRepresentative Advanced provides representatives:
- Ability to establish client accounts
- After the risk tolerance survey, apply investment strategies to the client’s account
- Along with investment strategies, apply fee schedules to the account
- Read and place memos on an account for the advisor and Trust to see, providing up-to-the-minute updates on account activities and an active role in account management
- On-demand account management reporting including asset and transaction reports, gain/loss reports, historical account reports, and model-based market value reports
