(November 16 – 11:00 ET) –
TD Waterhouse Group Inc. has
introduced a new web site to serve
independent financial advisors and
their clients in the U.S.
The new service, known as “Veo”
offers three customizable sites
that give financial advisors and
their clients access to
comprehensive account information
and a range of data management
tools.
An advisor site allows
customization, sorts data,
performs administrative tasks,
consolidates trading tools, and
offers real-time quotes and
message alerts. A client site
gives clients the ability to view
their accounts, and allows them to
place equity and mutual fund
orders online, upon agreement
between the advisor and client;
and a marketing site.
The online marriage of
client-directed trading and
advice has been introduced by
traditional giants
Merrill Lynch & Co. Inc., Morgan
Stanley Dean Witter, and
Prudential Securities. Many
U.S. brokerage executives believe
the integration of these delivery
channels is the key to long-term
success in the brokerage business.
In Canada, TD offers back-office
services to independent advisors
through TD Correspondent Services,
but this business has not developed
as fully in Canada as it has in the
U.S. The Veo site is due to be
fully operational in December.
-IE Staff
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