Mar 7, 2018
From weeks to hours, opening a direct investing account is now faster and easier than ever
New online account opening platform saves time and eliminates need to visit a branch
First impressions are everything – they set the tone for all future exchanges and evaluations.
As the first point of interaction with clients, online brokerages don't typically offer the greatest onboarding experience when opening a self-directed investing account; especially for clients who want quick and convenient online experiences.
David Carlson, the founder of Young Adult Money, a personal finance blog for millennials, believes financial institutions have a huge opportunity to show up for their online investing clients in the right way, at the right time and with the right online solutions:
"There's definitely an opportunity to re-shape the process for opening a self-directed investing account; especially for those of us who have come to expect easy and intuitive online experiences in every area of our lives," says Carlson. “For long-term, mutually-beneficial relationships with clients, it's great to see that financial institutions, like TD, are identifying methods to streamline these (often) lengthy account opening processes."
TD recently reimagined its process for opening a self-directed investing account. By eliminating the need to visit a branch, new client onboarding can now be done fully online, within 24 hours. Trading can start within 48 hours.
The new platform incorporates intuitive capabilities, including small conveniences like smart fill address and identification verification, and instant access to WebBroker. All of this using mobile responsive design – ideal for those looking to open accounts on a wide range of mobile devices.
Carlson participated in a demo of TD's new account opening application process, noting:
"They've really transformed how direct trading accounts are opened, offering dynamic questioning and smart capabilities that will appeal to online investors of all ages."
To read Carlson's complete review, visit Young Adult Money.
Disclaimer: David Carlson's review was sponsored by TD. Opinions are his own.