In Ep. 140 of the Mullooly Asset Show, Tom talks about some great new technological changes at TD Ameritrade. Using the Advisor Client app, clients can log in, view their accounts, and even deposit money right into their account by taking a picture of the check!
Show Notes
TD Ameritrade – Advisor Client
New Improvements from TD Ameritrade – Transcript
Tom Mullooly: In episode 140 we’re going to talk about more improvements that have been coming over at TD Ameritrade. Stick around.
Welcome to Mullooly Asset Show, I’m your host Tom Mullooly and this episode 140, thanks for tuning in.
We do a lot of business with TD Ameritrade on the institutional side, and there have been more and more improvements coming from them. One of the first discussions we have with new clients is to explain there are two sides to TD Ameritrade. There’s the retail side where they have branch offices, and you’ve probably seen some of their TV commercials as well. The institutional side where we do a lot of business that’s home for roughly seven thousand registered investment advisory firms just like Mullooly Asset Management.
The institutional side recently revamped their client website, you can find it at advisorclient, that’s advisorclient.com. You should login and take a look around, and see it’s drastically different than what the old site used to look like.
The other thing that we’d recommend is that you download the Advisor Client app on your mobile phone or on your iPad and get used to logging in and looking at your account. Make sure you download the right app, because it’s easy to type in TD Ameritrade and what you’re really downloading is the retail app, what you want to download or look for is the AdvisorClient.com app.
So one of the features that they rolled out in the last few months is how you can deposit money into your account by basically taking a picture of a check. The first thing we tell everybody is before you deposit your check sign it. So log into your TD Ameritrade, your Advisor Client app and select the account if you have multiple accounts that you want the money to go into. Then just type in the amount of the check that you’re going to be depositing. Take a picture of the front and the back, and it walks you through how to do this. It’s super easy, and that’s pretty much it. If a check is written to you, someone gave you a check, and you want to deposit it into your TD Ameritrade account just make sure that you indicate the right account number. You should put it on the memo line near the bottom of your check.
Now if you’re writing a check to put into your account at TD Ameritrade a good tip that they tell everyone is to make the check out to TD Ameritrade for the benefit of, or FBO of your name. There is a limit of ten thousand dollars in terms of what you can deposit per day, but this is another improvement that they’ve rolled out for advisory clients. TD Ameritrade, along with all the other firms that work with investment advisers, Schwab, Fidelity, Vanguard, they are making great strides in making it easy to work with clients and to move money to and from your account. Make sure you check out advisorclient.com, login and take a look around. I think you’ll be impressed.
Thanks for watching episode 140, we’ll catch you next time.
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