Originally I hadn’t planned on posting a Bits and Bytes update today. I was on vacation until today and there were no relevant stories that came across my feeds. Then yesterday afternoon came.
While on my return flight to Dallas, my feeds and screens peppered me with updates from many of the major custodians including Schwab, TD Ameritrade, and Fidelity.
But first, my September column for Morningstar Advisor covers a technology product aimed at reducing the manual data-gathering process associated with compliance activities, namely trading supervision and pre-clearance approval. Go read it! Say Goodbye to Paper-Based Compliance Practices.
Now on to this week’s stories of interest:
TD Ameritrade to release customized version of Salesforce from FA-Mag.com
[So if you're Schwab and announce a partnership with Salesforce in October 2010, then take a year to roll something out to advisers, someone might steal your thunder. That's just what TD Ameritrade did this week as it announced the rollout of a customized version of Salesforce at about a 40% discount to advisers. I'm going to view the demo this afternoon and hope to report shortly thereafter.] TD Ameritrade Institutional (TDA) is putting final touches on a customized version of Salesforce that it will release in October.
Fidelity Rolls Out ‘Technology Investment Evaluator’ for Advisors from Financial Planning
[Not to be left out, Fidelity is providing its internal consultants with an Excel-based spreadsheet that helps rank the various tools available to advisers by how well the tool might meet advisers' needs.] Fidelity Investments’ RIA custodian business has announced a new tool, Technology Investment Evaluator, to help advisors run their businesses more efficiently.
And on Monday, I posted that Schwab revealed its new Intelligent Integration website and formed a new subsidiary called Schwab Intelligent Technologies to support the effort.
For my thoughts on Salesforce, read Is Salesforce the future of adviser CRM?