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The Twitter Backchannel for FPA Retreat 2010

Posted on April 22, 2010 by in General

FPA Retreat 2010 begins today in San Antonio, TX. I’m on baby duty this weekend, otherwise I’d be attending this event.

So for those of us watching from the sidelines, follow the Twitter backchannel for the event using the #fparetreat hashtag. Mary Corbin, Managing Editor of the Journal of Financial Planning, bless her heart, is live tweeting from the event.

Don’t take this the wrong way, but I think Mary, Rick Kahler, and Marion Asnes might be the only individuals tweeting from the event. No doubt Retreat attracts a more experienced crowd, plus many advisors choose not to send messages out through social networking sites due to compliance concerns, so don’t expect a flood of insight from the event.

Document Editing on the iPad Remains Convoluted Despite SugarSync’s Update

Posted on April 19, 2010 by in Technology

Two weeks ago I posted a review of the ways I see advisers using iPads in their practices. One of the drawbacks I highlighted was the lack of a native file explorer to easily locate, edit, and save files stored on the device.

I mentioned three apps that can be used to circumvent this drawback (GoodReader, Dropbox, and SugarSync), each with its own pros and cons.

Today, the folks at SugarSync released an update to its iPad app to enable users to perform basic file editing and synchronization with its SugarSync cloud document storage service.

Unfortunately, I still find document synchronization on the iPad, even with the SugarSync update, to be a convoluted process.

Read More…

Welcome Wealth Management Marketing Subscribers

Posted on April 15, 2010 by in General

FPPad.com is this month’s Featured Resource in Wealth Management Marketing’s newsletter. I want to welcome WMM subscribers to FPPad and provide some links to show you what’s popular on this site.

First, you can subscribe to the FPPad RSS feed by clicking here.

Don’t use an RSS reader? We recommend Google Reader. It’s free and easy to use.

Prefer email updates instead of RSS? We have an email subscription option, too. Just click here to subscribe by email.

So here’s a glimpse at what many visitors to FPPad find useful:

Thanks again for visiting and thank you to Wealth Management Marketing for featuring FPPad this month!

Concenter Services Purchases Moulton Strategic Partners, XLR8 Overlay to Salesforce

Posted on April 7, 2010 by in Software

I learned today that Concenter Services, LLC, based here in Dallas/Ft. Worth, has purchased the assets of Moulton Strategic Partners, creator of the XLR8 overlay to Salesforce.

Moulton Strategic Partners was one of the first companies to customize Salesforce, the popular SaaS CRM tool, and offer it to advisors under the XLR8 label.

I haven’t yet found a website for Concenter Services, LLC, but its CEO, Mary Ferguson, maintains a profile on LinkedIn. Click here to view it.

Below is the full text of the announcement from Concenter:

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The iPad for Financial Advisers and Wealth Managers

Posted on April 6, 2010 by in Technology

Apple iPadI’ve had my Apple iPad for about 72 hours and am ready to post my overall reaction to the product and specifically address how I believe financial advisers and wealth managers can use the device in their practice.

The Executive Summary

  • What: Apple iPad Wifi 16GB
  • Pros: Elegant design, sleek & attractive, easy touch interface with nearly no learning curve, 10+ hour battery life
  • Cons: (Besides the 13 referenced below) No native file explorer, editing existing documents is a convoluted process.
  • Takeaway: The iPad can compliment a paperless office, enhance meetings with clients, and provide a single source to access print and online media if you’re willing to work within the limitations of existing apps.

The Review for Financial Advisers & Wealth Managers

What you won’t find in this review are the general statements about the iPad’s cool features (like iBooks, pinch-zooming, etc.)  and the drawbacks (no multitasking, no USB ports, etc.) of the device. Instead, you’ll find my take on how I believe advisers and wealth managers can use the new tablet computer to enhance their daily lives.

If you still feel like you need the basic pros and cons overview of the device, here are two links, one in favor of the iPad’s potential to change computing, and one painstakingly detailed on the drawbacks of the device.

With that out of the way, let’s explore the ways I see advisers using the iPad.

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Socialware Launches Social Media Archive Service, Rebrands Website

Posted on March 23, 2010 by in Compliance, Technology

I’ve made several mentions on FPPad about Socialware, an emerging provider of social media archive and policy enforcement tools, but I’ve yet to include a full feature of their services.

Today, Socialware announced several new initiatives to better serve the market of individuals and small and medium businesses (SMBs). The full announcement can be viewed on the Socialware blog.

What do these changes mean to advisers?

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FPA of Maryland Webinar to Address Compliance Issues of Social Media

Posted on March 20, 2010 by in Practice Management

Despite FINRA’s issuance of social media regulatory guidance, advisors still have many questions about what can and cannot be done on social media websites.

I’ll be presenting a webinar to the Financial Planning Association of Maryland to address the compliance issues of using social media and networking websites.

I’ll be joined by Adam Schaub, CFP®, Compliance Manager for 1st Global in Dallas, TX. Topics covered will include:

  • Documentation of policies and procedures
  • Summary of regulatory guidance
  • Supervision and record retention
  • Overview of compliance tools and utilities

The webinar will be held on Thursday, April 1, 12:00PM EDT. FPA of Maryland members can attend for $20, all others can attend for $30.

Click here for the event PDF brochure. |  Click here to register.

Advent Adds Client Portals Via LIGHT[PORT] Agreement

Posted on March 17, 2010 by in Portfolio Management Software

Here’s new news over the wires: Advent announced that it now supports web-based client portals for its APX and Axys products through an agreement with LIGHT[PORT]. From the press release:

Through this alliance, LIGHT[PORT]’s solution is available to Advent clients using Advent Portfolio Exchange® (APX), Advent’s integrated portfolio and client relationship management solution, or Axys®, its turnkey portfolio accounting and reporting solution. These clients can easily set-up automated, web-based reporting for their clients via their own custom portal. These portals can be added to an existing website or can be built as standalone sites. LIGHT[PORT] supports integration with locally installed APX and Axys®, or with APX through Advent OnDemandSM, which delivers Advent solutions via the Software-as-a-Service model.

Click here to read the entire press release on Advent’s website.

Presentations Made to Stick from Dan Heath

Posted on March 12, 2010 by in General

Here’s another follow up to a topic I’ve discussed before on FPPad (Reinvent Your Presentation Style).

Consider what you are trying to accomplish when you deliver a presentation, be it to allied professionals evaluating your firm, potential clients, or guests at a client appreciation event.

Often the most effective way to deliver your message can be accomplished through three simple tips shared by Dan Heath, co-author of Made to Stick.

Click here to view Made to Stick: Giving Presentations, Dan Heath’s three and a half minute video on FastCompany.com

Free Web-based OCR Conversion from WiseTREND

Posted on March 10, 2010 by in Technology

Thanks go to rileybeebs on Twitter for bringing a simple-yet-effective OCR conversion tool from WiseTREND to my attention.

WiseTREND is an organization that, according to its website:

…provides a set of specific industry-tested Solutions, as well as customizable Software applications for OCR, Document Conversion and Data Capture projects.

I’ve written on FPPad before (Improve Your Paperless Document Searches) about applying OCR to each and every document captured with a scanner. Doing so allows document management and search programs to look inside documents and match keywords entered in a search query.

Adopting intelligent search for documents means no more wasted time digging though seemingly endless trees of subfolders on a company server in an attempt to find one elusive document that ended up being misfiled when it was captured in the first place.

Read More…