On today’s broadcast, Michael Kitces highlights a roadmap for location independent advisors, several new tech tools emerge that are worthy of your attention, and what are all these videos about something called FPPad Tech Tour?
So get ready, FPPad Bits and Bytes begins now.
Today’s episode is brought to you by Laser App Software, host of the Laser App Financial Services Conference coming this August in San Diego.
This year’s conference is all about adoption, delivering strategies for broker-dealers, enterprises, and more to increase stakeholder adoption and get the most out of their technology platform. Space is limited, so secure your free registration today by visiting fppad.com/laserapp2015.
Here are the links to this week’s top stories:
The Emergence Of The “Location-Independent” Virtual Financial Advisor from Kitces.com, and
Download the The Virtual Advisor eBook from XY Planning Network
[Now on to this week’s top story which comes from Michael Kitces over at Nerd’s Eye View, as Kitces writes about the growing trend of location-independent financial advisors. This business model of the virtual financial advisor is still relatively new, enabled by the nearly ubiquitous access we all have to the Internet coupled with technology solutions based exclusively in the cloud. It wasn’t that long ago that most of us couldn’t even read business email while out of the office!
So in his post, Kitces highlights an eBook called “The Virtual Advisor” written by XY Planning Network co-founder Alan Moore. By the way, Kitces is the other co-founder of XYPN. Anyway, the 41-page eBook is loaded with dozens of technologies, apps, and solutions that can help you work from anywhere along with several profiles of XY Planning Network members and the systems they use to run a location-independent business.
Now you don’t have to be an advisor to Gen X and Gen Y clients or even meet the age criteria of Gen X or Gen Y to benefit from these tools and techniques. I think you should take a look at the resources in this book and see if anything can complement or outright replace some of your existing legacy systems to improve the way you work.
The best news is that The Virtual Advisor eBook is free provided you’re willing to give up your email address, so you can head over to fppad.com/168 to get the link to download the ebook today.] Yet the rise of technology is creating a new service model for financial planning – the “virtual” advisor, who uses web-based tools and technology to serve clients, regardless of where the client (or advisor) happens to be.
5 Smart Tech Tools for Advisors from Financial-Planning.com, and
Live Chat for New Clients from Morningstar Advisor (free login required)
[Next up is news from Dave Grant of Finance for Teachers, as Grant recently highlighted five smart tech tools for advisors in his column for Financial Planning magazine this month. Some of these tools I’ve mentioned on the show before, including Advizr from episode 146, which Grant complimented for it’s attractive, easy to use basic financial planning capabilities, and Schwab Intelligent Portfolios from episode 153, as Grant mentioned the potential time savings from the low-cost automatic allocation and rebalancing solution.
But Grant covered three other solutions that I haven’t covered before, leading off with MyPlanMap. This tool takes your action items and todos from your planning meetings and places them on a timeline so clients can see what’s ahead, and they can also see what you’ve done for them in the past. I think that’s pretty cool.
Second is Twenty Over Ten, a website provider that offers a variety of attractive themes that are responsive for all kinds of devices, simple editing tools, and a built-in archiving for compliance. At $49 a month after a one-time setup fee, it’s definitely an attractive option.
And finally, Grant highlights ClickDesk which is a plugin for your existing website that reveals a chat box for your website visitors. If your website visitor wants to ask you a question, they can start a live chat right from your website, and completed chats are emailed to you so you can save the record for compliance. I covered a similar service called Olark two years ago in one of my columns for Morningstar, which I’ve linked to over at the FPPad website.] I am always on the lookout for new technology to use in my practice. Here are some of the platforms that have recently caught my eye.
Follow FPPad Tech Tour at http://www.fppadtechtour.com/
[And finally, you might have seen a few videos from me this week about something called FPPad Tech Tour. That’s right, starting Monday, I’m going on tour!
FPPad Tech Tour kicks off next week with an epic three week road trip from Atlanta to New York City and back, stopping in seven cities along the way. My executive producer Steve Biermann and I are going on tour to capture the stories of people who are working so hard to build technology solutions for you, the financial advisor, so you can run a better, more effective business.
There’s already a lively discussion happening on Twitter using the #fppadtechtour hashtag, so I invite you to join us and follow along as we work to capture the passion each individual has to make you a better advisor.
Make sure you’re subscribed to FPPad newsletter for updates from the tour.]