Docupace recently attended the 2020 TD Ameritrade LINC Conference in beautiful Orlando, FL.
It was a well-organized, well-executed conference, with valuable opportunities to hear from presenters and other attendees alike.
We had the chance to make some great new contacts, visit with existing clients and new partners like Orion and Wealthbox , and learn from informative workshops and panels.
Here are a few of the topics people were buzzing about on the conference floor, as well as in the keynotes and breakout sessions:
Wealth management industry consolidation
This was the first National LINC Conference following TD Ameritrade’s acquisition by Schwab.
The acquisition has raised many concerns among advisors, including potential service disruptions and an uncertain future for TD Ameritrade’s Veo platform, and was a frequent topic of discussion at the conference.
The TD Ameritrade/Schwab deal is one of the biggest the industry has ever seen, but it’s also part of a trend. Consolidation has been booming in the last few years, creating both risks and opportunities for wealth management firms.
For example, many advisors may look to switch firms post-consolidation. Firms with tools like Docupace Advisor Transitions in place can take advantage of these moments and recruit top advisors.
At the same time, smaller independent and regional firms who don’t go the M&A route will be competing with firms with access to way more resources, especially in terms of R&D. Now is the time for these firms to invest seriously in digital operations — otherwise they risk falling too far behind.
Investor experience and technology
Another theme at LINC this year was a heightened interest in technology.
Many firms are attempting to rebrand, going from “asset management firms” to “financial technology companies.”
There’s an understanding among advisors that in order to compete in a world where many investors will self-serve or use robo-advisors, they have to differentiate themselves and shift priorities.
That means maximizing value to the client, which was the topic of a panel at the conference.
It also means driving technology from the back office through to the advisor and on to the investor. A platform like Docupace and a tool like Docupace Start can help you create the unified experience that will keep both advisors and investors happy.
The elephant in the room: Reg BI
Of course, another topic on everyone’s minds was Reg BI, which is going to have a major and immediate impact on the wealth management industry.
The people we met at LINC are taking Reg BI very seriously, and looking for strategies and technologies to minimize potential negative impacts from the new rules.
We hear these concerns, and we’re working on a digital processing solution that will simplify Reg BI compliance. Keep an eye on our News & Events page for updates.
Until next year
We always enjoy going to conferences because it allows us to keep our ear to the ground about what’s happening in the industry, and this year’s TD Ameritrade LINC Conference was no exception.
Thanks to everyone who helped make it a success, and an extra special thanks to everyone who visited the Docupace booth!
