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The top 10 industry blogs for financial advisers

Posted on January 15, 2014 by in General

Caption

Michael Kitces’ Nerd’s Eye View blog caps this impressive list of sites every adviser should visit

These top ten blogs in financial services cover the spectrum of financial advisers’ information needs

So you want to know some of the best sources where I get my news?

RIABiz Top 10 Industry Blogs

RIABiz just released its list of the top 10 industry blogs for investment advisers. This is a collection of some of the premiere sites on the web you can use to transcend the challenges of being an independent financial adviser.

And yes, I have a vested interest in this list, as the site you’re visiting right now, FPPad.com, is ranked #3 in the RIABiz list.

Humble Beginnings

But before you head over to RIABiz to read the complete list, let me thank each and every one of you for your support.

FPPad first started as a blog about technology for financial advisers back in January 2008.

Six years later, I’m privileged to be listed as one of your go-to resources for all things technology in this industry.

So if you want to stay up to date on new industry technology, please subscribe to my free newsletter!

All set?

Now go over to RIABiz and read The RIABiz top 10 industry blogs — and what bloggers they recommend

Photo: RIABiz.com

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FPPad Bits and Bytes for January 10

Posted on January 10, 2014 by in Bits & Bytes

On today’s broadcast, how a business model pivot by a rising wealth management software provider will affect your technology spending, technology experts chime in on the trends that are sure to affect all advisory businesses, new integrations provide marketing resources to grow your online audience, and more.

So get ready, FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

This week’s episode of Bits and Bytes is brought to you by Total Rebalance Expert, the industry’s largest, privately owned portfolio rebalancing software provider.

Total Rebalance Expert

Fresh off its acquisition of PowerAdvisor, TRX offers advisors tax-efficient rebalancing, an easy to use interface, and more, all at an affordable price. Learn how you can gain a half a million dollar return on your technology investment by downloading their latest white paper at fppad.com/trx

Here are this week’s top stories:

inStream abandons free plan, introduces subscription pricing from FPPad.com

[This week’s lead story comes from inStream Solutions, which just announced that the company is no longer offering a free subscription plan to financial advisors. inStream first received attention in 2011 by introducing the free financial planning software tool for advisors, with hopes of monetizing advisor participation through an online product marketplace.

But just like many well-known startups including Twitter, Instagram, SnapChat and more seek ways to monetize their platform, inStream shares the challenge of figuring out how to build a sustainable revenue model for its innovative platform.

So the free plan is going away, replaced by a $2,400 annual subscription. Existing users do have the option to subscribe for $1,000 in the first year, and any advisor who signs up by this summer will receive 50% off their first year subscription.

More details about inStream’s pivot as well as the release of a new Safe Savings Rate tool are in this week’s show notes.] Financial planning software startup inStream Solutions drops its free pricing plan, switches to annual subscription model

Technology for Planners: Trends, Spending, and the Rise of Robo Advisers from the Journal of Financial Planning

[Next up is a peek into the minds of technology experts in financial services. The cover story of this month’s issue of the Journal of Financial Planning is all about technology for planners; the trends, spending patterns, and rising concern of online “robo-adviser” services.

I had the privilege of joining tech experts Joel Bruckenstein, Jennifer Goldman, and JP Nicols in this roundtable discussion moderated by none other than the venerable Michael Kitces. Be sure you read the roundtable transcript and think about what changes you need to make in your business for 2014 and beyond.] Technology is essential to operating a successful and profitable planning practice. Whether it’s software integration, mobile devices, cloud computing, or the latest on so-called robo advisers, you’ve got questions. The Journal’s practitioner editor, Michael Kitces, uncovers the answers in this roundtable discussion with tech experts Joel Bruckenstein, CFP®, Jennifer Goldman, CFP®, JP Nicols, CFP®, and Bill Winterberg, CFP®

Bill Good Marketing Integrates Gorilla with Redtail CRM

[Now one of the takeaways from the roundtable cover story is that advisors don’t have the budget or venture capital funding to deploy a nationwide marketing blitz. So how can you build your brand and online audience in the face of this competition?

One way is to use content marketing libraries that integrate with your current technology. New this week is the integration of the Bill Good Marketing library into Redtail CRM, giving over 75,000 Redtail users access to compliance-approved marketing material from Bill Good.] CRM systems Gorilla and Redtail Technology collaborate to address major trends affecting Financial Advisors

Exclusive new content & videos from Advisor Websites

[And another offering comes from Advisor Websites, which now offers its “Hall of Famer” users the ability to embed written as well as video content on their website through a partnership with FogLifter.

For more information on the marketing integrations and to view some of the sample content, go to Video 1: Tax & Income Planning http://www.viddler.com/v/1c97c093 and Video 2: Fiduciary Difference http://www.viddler.com/v/479dfc19 .] It’s a new year and big things are happening at Advisor Websites! We are thrilled to announce the addition of new content for all Advisor Websites users!

Unboxing the 2013 Mac Pro: The ultimate desktop for financial advisers from FPPad

[And finally, many of you have asked me what equipment I use to produce each episode of FPPad Bits and Bytes. Well just a few weeks ago, I received my new Mac Pro from Apple and have transferred all of my video editing over to this powerhouse of a machine.

I filmed the unboxing of my Mac Pro and uploaded my review to my YouTube channel this week, so if you’re interested in building your multimedia production capabilities, I suggest you watch the review to see if a Mac Pro purchase makes sense for you. And in case you don’t know, everyone who subscribes to the FPPad newsletter gets my complimentary guide to creating awesome videos. Sign up at fppad.com/subscribe to get your copy today.] The all-new Mac Pro is a powerhouse loaded with processors and memory, but it might (just might) be a little bit overkill for financial advisers

 

Watch FPPad Bits and Bytes for January 10, 2014 on YouTube

Watch FPPad Bits and Bytes for January 10, 2014 on YouTube

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Unboxing the 2013 Mac Pro: The ultimate desktop for financial advisers

Posted on January 8, 2014 by in Technology

The all-new Mac Pro is a powerhouse loaded with processors and memory, but it might (just might) be a little bit overkill for financial advisers

(Watch the Mac Pro Unboxing on YouTube)

In December 2013, I was lucky enough to receive my order of the all-new Apple Mac Pro.

You see, videos have become an important part of content and material on FPPad, and the 2009 iMac I was using was beginning to show its age.

It didn’t help that I recently stepped up to weekly production of FPPad Bits and Bytes episodes, meaning that I was quickly taxing the limited memory and hard drive space of the iMac.

Speed, and then some

So why did I buy the Mac Pro?

In a word, speed.

Each episode of FPPad Bits and Bytes requires several hours of editing in post production. My editing software of choice is Apple’s Final Cut Pro X.

Episodes feature a lot of cut-away video, pop-up images, jammin’ music, and four boxes of simultaneous video in the credits. All of that resulted in final video rendering times of 45 to 60 minutes on the old computer.

How long does it take the Mac Pro to render an episode?

Three.

Yes, three minutes!

Mac Pro Configuration

Here is the complete configuration of my Mac Pro and its accessories shown in the video above.

Mac Pro, 6-Core and Dual GPU with 3.5GHz 6-Core Intel Xeon E5 processor: http://store.apple.com/us/buy-mac/mac-pro

PROMISE Pegasus2 R4 8TB (4 by 2TB) Thunderbolt 2 RAID System: http://store.apple.com/us/product/HE151VC/A/promise-pegasus2-r4-8tb-4-by-2tb-thunderbolt-2-raid-system?fnode=5f

Apple Thunderbolt Display (27-inch): http://store.apple.com/us/product/MC914LL/B/apple-thunderbolt-display-27-inch?fnode=53

KRK RP5G3-NA Rokit 5 Generation 3 Powered Studio Monitor

Not For Everyone

Should every financial adviser own a Mac Pro? Probably not.

If you’re considering publishing audio and video content in the future, or you are already doing it now, then yes, you likely will want to upgrade to a Mac Pro.

The Mac Pro is designed to work with processor-intensive programs like Final Cut Pro, Aperture, Garage Band, and more.

If you use your computer primarily for web browsing, accessing cloud-based programs, and composing documents with Microsoft Office applications, the Mac Pro is overkill for those applications.

But for me, the Mac Pro is exactly what I’ve needed, and I’m very glad it is sitting on my desk.

Now if you’ll excuse me, I need to delete the 500 GB of video files hogging up the old iMac’s hard drive.

 

Watch the Mac Pro unboxing on YouTube

Watch the Mac Pro unboxing on YouTube

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inStream abandons free plan, introduces subscription pricing

Posted on January 8, 2014 by in Software, Technology

Financial planning software startup inStream Solutions drops its free pricing plan, switches to annual subscription model

inStream Solutions made a splash in late 2011 with the introduction of its free financial planning software tool for financial advisers (watch Video Spotlight: inStream Solutions CEO Alex Murguia on achieving proactive financial planning).

But like many startups, inStream just made a pivot in its business model that eliminates the free plan altogether for some 2,000 users.

inStream No Longer Free

This week, inStream announced that it is switching to an annual subscription model, with retail pricing set at $2,400 per user.


inStream Solutions CEO Alex Murguia introduces the startup at FinovateSpring 2012 (watch on YouTube)

Volume discounts will be available for large firms, and existing users of the free plan will be offered the chance to subscribe for just $1,000. Also, as an incentive to new users, inStream is offering 50% off the retail subscription fee to any new adviser who signs up prior to June 30, 2014.

Not only that, inStream is also changing its positioning in the market by calling the solution a “wealth management platform” in favor of its former financial planning software heading.

More than Financial Planning Software

inStream replaces the financial planning software terminology in favor of a wealth management tool

inStream replaces the financial planning software terminology in favor of a wealth management tool

In an interview with Financial Advisor magazine tech editor Joel Bruckenstein, Alex Murguia, founder and CEO of inStream, said, “We are not trying to create financial planning software; we’re creating a wealth management platform that financial planners can use to run their businesses.”

To its credit, inStream has recently added features that transcend beyond traditional financial planning to increase the value and utility of the solution.

In recent months, inStream brought on Dr. Wade Pfau, Professor of Retirement Income for the American College, to lead its new Financial Planning Research division (watch FPPad Bits and Bytes for August 2nd for more details on Pfau’s involvement).

Out of this partnership, inStream will soon release what it calls the industry’s first “Safe Saving Rate” planning tool developed under the guidance of Pfau.

Existing Updates, Too

inStream is also upgrading many of its existing functions, which include mind map plugins, proactive alerts, and custom reports for financial plans.

For more information on the new pricing plans, as well as feature enhancements, visit inStream online at www.instreamwealth.com

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FPPad Bits and Bytes for January 3

Posted on January 3, 2014 by in Bits & Bytes

On today’s broadcast, hackers make headlines targeting high-profile companies, so how can you avoid a security breach in your business? Electronic signature technology gains momentum, find out which providers you should add to your processes. Big data is coming. Who’s harnessing all the data you gather in your business, and how will these tools help you make better decisions in 2014 and beyond? All this and more.

So get ready, FPPad Bits and Bytes begins now!

(Click to watch on YouTube)

Today’s episode is brought to you by New Planner Recruiting, which specializes in the sourcing, screening and integration of entry level financial planners within financial planning firms nationwide.

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Whether you’re a firm looking to hire or an aspiring planner establishing your career path, sign up for the free newsletter full of valuable resources and information by visiting fppad.com/npr

Here are this week’s links of interest:

Financial Adviser Technology Trends in 2014

Financial advisor technology news moved at a snail’s pace over the holidays, so today’s episode is going to cover the most important technology trends I see coming in 2014. These trends break down into four main categories:

  • Security
  • Electronic signature
  • Big data, and
  • Enhancing your online presence

Security

Security news has received a lot of attention recently, headlined by the recent data breach at Target of over 40 million credit and debit card accounts, and quickly followed up by the release of over 4 million usernames and phone numbers from users of Snapchat, the private mobile messaging service.

While these are big companies with a potential bounty of user information, don’t think that your business is immune to attacks from hackers seeking personal and financial information.

This year, you should make it a priority to strengthen the defenses of your computers, mobile devices, and your network. Also, social engineering will likely be the primary method hackers will use to exploit people in your organization, so periodically test how susceptible your organization is to well-designed social engineering attacks.

Vendors that can help with your security include Mimic Technologies, Right Size Solutions, True North Networks, Envision Consulting, and many more, and you can use simulated phishing applications from Wombat Security Technologies, TraceSecurity, ThreatSim and more.

Electronic Signature

Next up is the increased adoption of electronic signature by financial institutions. You heard about e-signature several times in last years’ broadcasts as TD Ameritrade Institutional, Fidelity, Pershing, LPL and others support some form of the technology in their existing account processes.

But you can also deploy e-signature for the contracts and agreements you have for your internal documentation. So it’s worth exploring your options from providers such as RightSignature, Adobe® EchoSign®, DocuSign, and more to streamline your signature-gathering process, all while satisfying compliance, of course!

Big Data

The third trend I see ramping up big time for advisors in 2014 is Big Data. More technology providers are developing big data capabilities to help you analyze your data more effectively so you can make informed decisions about your client needs and business opportunities.

Look to adopt one or more of the business analytics tools available from Redtail Data Cloud, AssetMark, Orion Advisor Services, Envestnet|Tamarac and more.

Enhancing Your Online Presence

Finally, 2014 should be the year you make a serious effort to enhance your online presence. This is about more than just creating a Twitter account, posting a few tweets, and calling it a day.

More and more prospects are looking for financial advice and evaluating financial advisors online, long before they pick up the phone to schedule an initial meeting. And some prospects don’t even care that your office be in the same city where they live; they want an advisor who is an expert regarding their specific needs and circumstances, without imposing some arbitrary geographic requirement.

That said, does your website have what it takes to attract this generation of web-savvy prospects? Does your social media activity reinforce your value proposition to potential clients? And does your technology live up to the expectations of individuals born in the digital age?

Boost your online presence with services from providers like Advisor Websites, Wealth Management Marketing, Vestorly, Advisor Studios, Wired Advisor, and more.

So there you have it!

You’ve heard what I think the most important technology trends of 2014 will be, and I’ve given you a head start with a number of vendors and providers that can help you get the new year off to a fantastic start.

Watch FPPad Bits and Bytes for January 3, 2014

Watch FPPad Bits and Bytes for January 3, 2014

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How Vestorly transforms advisers’ web presence into qualified leads

Posted on December 31, 2013 by in Compliance, Social Media, Video Spotlight

Vestorly uses “smart data” techniques to convert advisers’ online audience into qualified leads

I recently met with Justin Wisz, co-founder of Vestorly, to learn more about the company’s technology offering to financial advisers.

Vestorly is a content marketing platform designed to enhance client acquisition for financial professionals. What does that mean in plain English? Wisz explains in the video interview above.

“Smart Data”

Vestorly helps financial advisers publish content online from a variety of aggregated sources (all compliance approved!) targeted to the interests of clients and prospects. Featured sources include personal finance content from Kiplinger.

As the adviser’s online audience grows, Vestorly captures lead information such as names and email addresses and then uses “smart data” techniques in the background to further associate leads with demographic information.

One goal of Vestorly is generate measurable ROI from the online efforts pursued by advisers.

Any activity in digital communications without a lead generation aspect is, frankly, a little bit of a waste of time and resources

– Justin Wisz, Vestorly co-founder

Vestorly is Free

Vestorly offers curated content from a variety of sources, smart data aggregation techniques, and compliance tools all in one platform, so how much does it all cost?

For individual advisers, Vestorly is free.

So why is Vestorly free for individual advisers? Watch the follow up video below to hear from Wisz.

According to Wisz, Vestorly combines a number of existing technologies common in online marketing, but not yet present among the financial services industry.

“Much of Vestorly is what we call status quo technology,” said Wisz.

“We think [that technology] should be free, especially for advisers who are just getting started with marketing in financial services,” he added.

Vestorly for the Financial Enterprise

But beyond individual adviser use, Vestorly is also built to suit the needs of large financial enterprises.

Vestorly’s enterprise relationships focus on integrations and expanding the utility of the content generation and lead generation functions.

In the extended interview below, Wisz describes how financial enterprises (e.g. broker-dealers and large RIAs) can compliment existing archiving and social media systems by tapping the Vestorly API for expanded features.

“I would see Vestorly as a major compliment to all the things that [broker-dealers] already have in place,” said Wisz.

“They’re now allowing reps to blog, send out email marketing, or do some social media marketing, but now it’s time to find out what they can get back,” Wisz added.

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How to install the Fujitsu ScanSnap S1500 on OS X Mavericks (and Yosemite)

Posted on December 29, 2013 by in Efficiency, Technology

Installing the Fujitsu ScanSnap S1500 on Mac requires a few good Google searches

Installing the Fujitsu ScanSnap S1500 on Mac requires a few good Google searches

UPDATE OCTOBER 2016: OS X Sierra created several compatibility issues with the ScanSnap application, so several patches are being released by Fujitsu. Read their official update regarding ScanSnap compatibility for the popular iX500 and S1500 models.

One of my favorite home office devices is my Fujitsu ScanSnap S1500 scanner. I purchased it in 2009 and have used it consistently, although Fujitsu recently replaced the S1500 with the updated ScanSnap iX500 model.

Because the S1500 is no longer available for retail purchase, I had a challenging time trying to figure out how to install the S1500 on my Mac Pro with OS X Mavericks.

Google searches turned up a variety of discussion boards and posts from Fujitsu, but it took a half-dozen searches to finally find the exact file I needed.

ScanSnap Manager for Mac

So for anyone looking to install an existing Fujitsu ScanSnap S1500 on their new Mac with OS X Mavericks, here is the page from Fujitsu you need to visit to download the .dmg installer.

http://www.fujitsu.com/global/support/computing/peripheral/scanners/software/s1500m-setup.html

If you prefer to link directly to the .dmg file, here it is (433MB): http://www.fujitsu.com/downloads/IMAGE/driver/ss/mgr/m-s1500/ScanSnap.dmg

Unidentified Developer

One quick note about the installation process: if you click on the .dmg file to begin installation, Mavericks will complain that it “can’t be opened because it is from an unidentified developer.”

This message comes from the Gatekeeper security feature added in OS X 10.8 and higher. So to successfully open the file, either right click the file or press Control and click the file, then select Open from the context menu. Next, click Open in the warning dialog box and installation will continue.

Let me know if these links expire, and I will update them accordingly to make the installation process as smooth as possible for you.

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FPPad Bits and Bytes for December 13

Posted on December 13, 2013 by in Bits & Bytes

On today’s broadcast, find out my picks for the best advisor technology of 2013, how building your own workflow with Internet services just got a bit easier, and how you can let prospects you’ve never seen before tour your office, virtually.

So get ready, FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by My Virtual COO, a leading practice management firm that helps advisors free up time so they can devote their energy to mission critical, profitable, and enjoyable activities.

mvcoo for blog

To find out how you can implement a lean operations plan, download their latest white paper titled “The Lean Solution to Becoming a More Profitable, High Growth Advisory Firm” by visiting fppad.com/myvirtualcoo

2013’s Best Tech for Advisors from Morningstar Advisor

[December has clearly arrived, as I, like many of you, have endured sub-zero temperatures while on the road, but it also marks the release of my column on my top advisor technology picks for the year. Each year I highlight what I feel is the best back office technology, the best client-facing technology, and the best overall innovation for the year.

So taking the honor as this year’s best back office technology winner are two recipients, LPL Financial and Fidelity Institutional Wealth Services. Both companies launched mobile check deposit support earlier this year using apps on mobile devices. While advisors using mobile devices to deposit client checks might not seem very sexy, the capability does reduce many of the challenges when dealing with paper checks deposited in the traditional ways.

Next up is this year’s best client-facing technology, which is awarded to Riskalyze. You’ve heard about Riskalyze before on several of my earlier broadcasts, as they’ve gained significant momentum among advisors seeking tools to objectively quantify each client’s unique risk tolerance. Their reasonably-priced tools allow you to better measure how your clients respond to market volatility, instead of leaving an assessment up to your own intuition and gut feelings.

Finally, this year’s innovation of the year award goes to Trade-PMR for its introduction their bold Fusion Advisor Workstation. This growing custodian delivered a shot across the bow of its larger competitors by pushing the envelope on the custodial technology interface. Its Windows 8-inspired design and touch responsive support unveils a completely new way to manage your client’s financial assets, so look for the competition to play catch-up next year to the new bar established by Trade-PMR.

There’s a lot more to my best technology picks of 2013, including products deserving honorable mention, so be sure to read the full article for all the details.] This is my fourth year positioned in the hot seat of a high-stakes evaluation process that can literally make or break the future of an advisor technology provider!

The Insider’s Guide to the New Zapier, now with 250+ Supported Services from Zapier.com

[Next up is an interesting development on connecting Internet services so you can build your own simple workflows. One service I wrote about last year is IFTTT, an acronym for If This Then That, which allows you to perform an action in one Internet service using a trigger from another.

A second service receiving a lot of attention this week is Zapier, which announced an extensive redesign of its interface and expanded support of over 250 integration partners. There’s no end to the number of cool things that can be done with these services, so be sure to read up on Zapier’s announcement to see how you might start using the service for your own clever workflows.] Today we’re launching a brand new web app and announcing that we now have over 250 integration partners.

Create your own Street View from Google Maps

[And finally, you know how handy it is to use Google Street View to check out unfamiliar places before you travel. Well did you know that you can now duplicate the experience by creating a virtual tour of your business for clients and prospects? Starting this week, Google announced that you can use your own photos from your Android phone or a digital SLR camera to construct a 360 degree photo sphere of your business.

While the direct financial planning applications of a photo sphere are pretty nonexistent, I think setting one up for your business is a very clever way to market yourself to prospects that want to work virtually with you, but still appreciate the environment and people you support that help contribute to their financial success.] Well, starting today, it’s now possible for you to build your own Street View experiences to do just that. Using a new feature in our Views community, you can easily connect your photo spheres to create 360º virtual tours of the places you love, then share them with the world on Google Maps.

 

Watch FPPad Bits and Bytes for December 13, 2013

Watch FPPad Bits and Bytes for December 13, 2013

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The best financial adviser technology of 2013

Posted on December 12, 2013 by in Technology

Best financial adviser technology of 2013

The best technology of 2013 for financial advisers facilitates check deposits, client risk assessment, and custodian efficiency

I have the privilege (and the pressure!) of assessing the prior year’s technology for financial advisers to determine what I consider to be the best of the best.

2013 proved to be an interesting year, as there were few industry-changing technology introductions overall. Many tech announcements this year consisted of updates to existing technology, such as the expansion of mobile device support or more granular control over trading.

But every year, I select award winners in the following categories: Best Back-Office Technology, Best Client-Facing Technology, and Innovation of the Year.

Wait! I’m going to highlight each award winner in tomorrow’s FPPad Bits and Bytes broadcast, so subscribe for free to get the broadcast emailed to you.

Without further ado, head over to Morningstar Advisor right now to see my selections for the Best Tech for Advisers, 2013 edition!

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FPPad Bits and Bytes for December 6

Posted on December 6, 2013 by in Bits & Bytes

On this week’s broadcast, learn the hits and misses from the year’s most anticipated advisor technology survey, the pending termination of several financial planning software products catches advisors off guard, how the leading independent custodians are stepping up their technology, and more.

So get ready, FPPad Bits and Bytes begins now!

(watch FPPad Bits and Bytes on YouTube)

This week’s episode is brought to you by Angie Herbers Incorporated, a consulting and research company to financial advisory firms, who just released a new white paper called Take Two: The New Direction of Succession that addresses the key elements to create a successful transition to your junior advisors.

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Download the Take Two white paper for free, along with other practice management resources, by visiting fppad.com/ahi

Here are this week’s top stories:

Tech Survey 2013: What’s New iIn Advisor Tech? from Financial-Planning.com

[Leading off as the top story is one of the most anticipated technology articles that comes out every year. The first of December marks the release of the annual Financial Planning Magazine Technology Survey, where Joel Bruckenstein digests over 1,100 responses about the various software programs and practice management tools used by financial advisors today.

So who are the winners and losers from this year’s survey?

Redtail Technology, Salesforce, and Tamarac Advisor CRM are the winners among CRM software, as advisors continue to embrace cloud-based technology, with slippage coming from Junxure, ProTracker, ACT, and Goldmine.

In financial planning software, this year’s results are essentially a carbon copy of last year’s survey, with MoneyGuidePro, eMoney, and MoneyTree claiming the top three spots.

And the same is true with portfolio management software, as the top 6 vendors are also a total repeat of last year’s results.

So who missed out on opportunities this year? The survey randomly selected new products from Blueleaf, inStream, and Market76, but found that few advisors had even heard of these relatively new players, which tells me that financial advisors, well, those who don’t watch Bits and Bytes, continue to be a challenging market for new providers to gain exposure.] The move to the cloud is finally taking place. In category after category of this year’s Financial Planning Tech Survey, we found software providers making the shift, and advisors responding.

NaviPlan financial planning desktop products to be discontinued from InvestmentNews

[The next story features news from Advicent Solutions, the company formerly known as Zywave, who provides a suite of financial planning software to advisors under the NaviPro brand.

In an unexpected announcement to some users, the company announced it will sunset six of its NaviPlan products on March 31, 2014, citing an “ever-changing marketplace.”

Going away will be all of the NaviPlan Extended and NaviPlan Standard desktop-based variants, making the cloud-based NaviPlan Premium and NaviPlan Profiles the sole applications that will receive ongoing support and enhancements in 2014 and beyond.

This news reinforces the trend of advisors adopting cloud-based solutions as seen in the Financial Planning Software Survey, so don’t be surprised when other providers announce the discontinuation of their own desktop-based software in favor of cloud-based alternatives.] NaviPlan financial planning products for desktop computers will be discontinued as the owner develops its NaviPro products for online use.

Plowing Ahead from FA-Mag.com

[Software providers aren’t the only ones making big changes in advisor technology, as four of the major custodians are also investing heavily in advisor-facing technology in a very competitive arms race. Once again, Joel Bruckenstein interviewed executives from Fidelity, Pershing, Schwab Advisor Services, and TD Ameritrade Institutional to reveal their strategies to help make advisors more efficient and more profitable through enhanced technology.

There’s a ton of great information in this article, so be sure to read it to see what your custodian is doing to help you grow your business.] Over the last several years, custodians have been investing in advisor-facing technology like never before.

Envestnet | Tamarac’s Advisor Xi(R) Platform Added To Pershing’s NetX360(R) Technology Channel from WSJ.com

[And finally, one company benefiting from custodian technology enhancements is Envestnet|Tamarac. This week, the company announced that its Advisor Xi suite will soon integrate directly with Pershing’s NetX360 custodial platform, giving advisors straight-through processing capabilities for trades in accounts held at Pershing, as well as access to real-time custodial account data.

The real-time data feeds will compliment existing integrations with Schwab and TD Ameritrade supported today, and expand straight-through processing trading capabilities announced at Schwab IMPACT several weeks ago.

Tamarac anticipates that the new integrations will roll out to its 660 firms during the first quarter of 2014.] Envestnet | Tamarac, a division of Envestnet, Inc., a leading provider of integrated, web-based portfolio and client management software for independent advisors and wealth managers, announced today that it has formally begun the integration of its Advisor Xi(R) platform into Pershing’s NetX360(R) custodial channel for investment professionals and Registered Investment Advisors (RIAs). Advisors will have access to this integration in the first half of 2014.

 

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Watch FPPad Bits and Bytes for December 6, 2013

 

 

 

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