TD Rebrands Wealth Business


    The Toronto-Dominion Bank is changing its wealth business to TD Wealth Private Wealth Management. The entity will be home to TD Private Investment Advice (PIA), the bank’s full-service investment brokerage; TD Private Investment Counsel; TD Private Banking; and TD Private Trust. The new brand will focus on high-net-worth Canadians with assets of at least $750,000. For investors, this means no longer having to navigate a network of services that can leave many feeling frustrated, says Dave Kelly, president of TD PIA. “Rather, a single relationship manager will be able to co-ordinate all of an investor’s needs and set them up directly with the specialist they require.” He says advisors need to be having more of a goal-based conversation as opposed to just a pure investment conversation. “It is no longer just about a four per cent or six per cent return.” The move is being implemented ahead of regulatory changes, known as the second phase of the client relationship model, that will highlight how much a client is paying for financial advice as well as the cost of their investments.