TD Ameritrade Institutional’s iRebal on Veo Helps Investment Advisors Rebalance Client Portfolios and Restore Balance to Their Workday

Right out of the gate, iRebal is quickly winning over RIAs, saving precious time by making it easier to keep allocations on target and harvest tax losses

An illustrative version of the iRebal home page. (Credit: TD Ameritrade Institutional)

JERSEY CITY, N.J.--()--Many advisors know that TD Ameritrade Institutional’s1 iRebal® on Veo® can help quickly rebalance client portfolios, manage cash flows and harvest tax-losses, but early users say this time-saving technology does something else even more valuable: restores balance to their workday.

Regular rebalancing is a popular strategy for keeping portfolio allocations on target, yet the traditional process – manually loading positions onto spreadsheets, calculating how many shares to buy or sell, and then executing trades – can take days and even weeks when multiplied across hundreds of accounts. That helps explain why the ranks of RIAs using rebalancing software soared to more than half this year from 31 percent in 2012, according to the latest Financial Planning annual technology survey.2

And the most popular rebalancing technology among independent advisors is iRebal, the survey said. Since its launch in June, advisors say iRebal’s customizable, cloud-based technology – available at no cost to firms on the Veo® brokerage platform – has helped them save enormous amounts of time and offer a higher level of service by streamlining the complex task of rebalancing.

“Before iRebal, we were spending a lot of time on manual processes that weren’t adding value,” said Benjamin Birken of Woodward Financial Advisors Inc., a Chapel Hill, N.C., firm that manages $180 million. “Now, every minute that we’re not downloading positions onto a spreadsheet is time we can spend on higher level planning, meeting clients and talking about their finances.”

A few weeks ago, Birken said he used iRebal to sell two funds for clients that held them, and purchase a new fund for those same clients, completing in an hour and a half work that normally would have taken a month. “That’s the kind of A-Ha! moment every firm will have. The time savings created by iRebal are incalculable,” he said.

The ability to scale up – that is, serve more customers efficiently and profitably – has become a top concern among RIAs since low-cost online advisory firms emerged as a threat to traditional advisors. A growing number of firms are looking to stay competitive by using technology to automate routine tasks and deliver a better experience for consumers with high expectations for service and convenience.

“There’s a lot of talk about people competing against robo-advisors but, at the end of the day, the lines will blur: we will all be technology-assisted advisors. It’s going to be about people utilizing cutting edge technology and iRebal deserves a place in that conversation,” said Josh Brown, chief executive of Ritholtz Wealth Advisors, a New York-based RIA that manages $170 million in client assets. “iRebal makes the whole process of rebalancing and tax-loss harvesting faster and easier.”

WNY Asset Management of Williamsville, N.Y., manages $340 million across more than 3,000 accounts, using model portfolios, WNY research director Joseph Starinsky said. Exchanging a stock or mutual fund, he said, could require hundreds of trades that would take days or even weeks.

“This is one sleek machine: it cuts the time we spend on rebalancing portfolios by more than half, even 75 percent,” Starinsky said. “Our firm has really embraced it. It takes away the stress from the daily trading mayhem and gives me more time to concentrate on my other duties, like research.”

It also handles the nuances of what are complicated transactions. For example, iRebal helps advisors simplify the work of assessing tax implications of portfolio moves at the position level or for each lot, which is especially helpful when clients have multiple accounts. Advisors can set iRebal to calculate the tax impact of trades during rebalancing, streamlining the process of identifying and harvesting tax loss opportunities as they happen, not just at the end of the year.

“I can’t even imagine how long it would take to look at every single after-tax account manually to try to find positions or lots that had losses significant enough to justify the trading costs,” Woodward’s Birken said. “Now we can run that request across the whole client base in a couple of minutes and see all the losses that meet certain parameters. That’s huge. “

Since iRebal on Veo was launched in June, nearly 700 advisors have completed introductory training in workshops and webcasts. New training classes continue to fill up as quickly as they are announced and firms are quickly using the technology to generate trades.

“We’ve been beating down the doors to get access. It’s one of the most important tools we use, because it lets us determine what needs to be rebalanced in minutes and then fire off trades. That’s powerful,” said portfolio manager Donald Capone of J.K. Financial Inc., a Dallas firm managing nearly $100 million. “Advisors won’t know how much time they can save until they use it,” he said.

And because it enhances the value of a firm’s services, it also can be a competitive strength, he said. “This is a tool that many advisors don’t have and so it sets us apart. We have the capacity to know by the minute how our accounts line up and, at the push of a button, attempt to take advantage of moves in the market.”

Ritholtz Wealth Advisors recently sent its clients a report, generated with the help of iRebal, that detailed the results of tax-loss harvesting transactions.

“We live in a day and age when advisors struggle to demonstrate their value,” said Brown. “We want to show all the tools that we bring to bear for the client.”

J. Richard Coe, whose Coe Financial Services in Wichita, Kan., manages nearly $100 million in assets, says iRebal makes his firm more “nimble” by letting him execute trades as potential opportunities arise. Spending less time on routine, labor intensive tasks means more time for more productive activities, from meeting clients and networking to big picture thinking and tactical trading.

“One of the most time sensitive things we do is trading and we want to be able to pursue the delivery of better results to our clients,” he said. “I can’t imagine doing what we’re doing without it.”

To learn more about iRebal, visit, call (800) 934-6124 or watch this introductory video.

About TD Ameritrade Institutional
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to over 4,500 fee-based, independent registered investment advisors and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows investment advisors to run their practices more efficiently and effectively while optimizing time with clients. TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation.

About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors turn to TD Ameritrade’s (NYSE: AMTD) technology, people and education resources to help make investing and trading easier. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to Main Street for more than 39 years. An official sponsor of the 2014 and 2016 U.S. Olympic and Paralympic Teams, as well as an official sponsor of the National Football League for the 2014, 2015 and 2016 seasons, TD Ameritrade has time and again been recognized as a leader in investment services. Visit TD Ameritrade's newsroom or for more information.

Brokerage services provided by TD Ameritrade, Inc., member FINRA ( / SIPC (

Advisors have not received remuneration for participation in providing these testimonials. Advisor testimonials may not represent the experience of all advisors using TD Ameritrade brokerage services. The advisors mentioned are not affiliated with TD Ameritrade Institutional. More information about the advisors is available on the SEC website (

1 TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation.
2 Tech Survey 2015: What's New Now?, Financial Planning, Dec. 1, 2014, (Registration required)

Source: TD Ameritrade Holding Corporation


TD Ameritrade
Joseph Giannone, 201-369-8705
Communications & Public Affairs

Release Summary

TD Ameritrade Institutional's iRebal technology can help quickly rebalance client portfolios, manage cash flows and harvest tax-losses. But mostly, it saves enormous amounts of time for advisors.


TD Ameritrade
Joseph Giannone, 201-369-8705
Communications & Public Affairs