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Monitoring the FPA Anaheim 2009 Conference Twitter Backchannel

Posted on October 11, 2009 by in General

The FPA Anaheim 2009 conference is underway, and while I am unable to attend this year (something about watching my son while my wife takes the pediatric board exam) I can still glean some good information while monitoring the backchannel on Twitter.

First, most (but not all) tweets from conference attendees contain the hashtag #fpa2009. The hashtag present in the tweet allows Twitter Search to easily find tagged messages and display them all at once.

Since not all attendees are tagging tweets with #fpa2009, I’m providing a list of people that have been posting conference related messages. If I had more time, I’d make an  icon to allow Twitter users to follow these individuals in one click, but I have to change some dirty diapers.

For now, here’s the list (in order of my personal rating of quality/quantity tweets):

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CRM Provider E-Z Data Acquired by Ebix Inc.

Posted on October 1, 2009 by in Software

E-Z Data, the provider of SmartOffice, a web-based CRM solution for financial services, was acquired by Ebix, Inc. today for $50.35 million. The acquisition will enhance the company’s existing EbixExchange platform to include E-Z Data’s robust CRM product.

Read the full press release on the Ebix Inc. website and read E-Z Data’s statement to SmartOffice customers on its website.

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Weitzman’s Right to Use CFP® Certification Mark Suspended

Posted on September 30, 2009 by in General

Several months ago FPPad chronicled the activities of Matthew Weitzman (Anti-Fraud Measures Your Practice Needs and Follow Up to Fraud Prevention Practices) after the SEC alleged that Mr. Weitzman misappropriated client funds through a series of unauthorized transfers.

Today, CFP Board announced that it issued an Interim Suspension Order to Mr. Weitzman suspending his right to use the CFP® certification marks. The suspension was issued because “Mr. Weitzman failed to respond to CFP Board’s Order to Show Cause within 20 calendar days, as required by CFP Board’s Disciplinary Rules and Procedures,” according to CFP Board.

CFP Board’s will complete further investigation on the claims and likely issue further action, but until then, Mr. Weitzman is no longer able to use the CFP® certification marks in any literature, advertisements, or correspondence.

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One Adviser’s Battle Against Inefficient Workflow

Posted on September 29, 2009 by in Efficiency

With increased workload and compressed margins of the last 12 months, financial advisers are looking for ways to maintain excellent client service while streamlining internal processes. One popular area for efficiency gains is the management of internal workflow.

I want to share an article published on IATechForum that highlights Laserfiche’s Avante product. Joseph Salpietro, President and CEO of Xpyria Investment Advisors (why the website domain is yannico.com is beyond me), shares his experience integrating the product into existing firm functions.

While the article features only the Avante solution (Laserfiche is one of the primary forum members), pay attention to the concepts of how the software was used to eliminate paper-pushing in the firm’s processes.

Click here to read Making Work Flow on IATechForum.

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Download Education Session Materials From Schwab IMPACT® 2009

Posted on September 15, 2009 by in Professional Development

Advisers who were unable to attend the Schwab IMPACT® 2009 Conference this week can still benefit from the myriad of presentations offered during the event.

Schwab has uploaded a majority of the conferences presentation materials to this website. Slide handouts can be downloaded for free and many of the presentation audio recordings can be downloaded for $15 each.

Also, many conference attendees are providing live updates from the event through Twitter. Follow tweets from the following individuals and companies for more information, or search for updates containing the #IMPACT09 hashtag.

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Tamarac 9 is Industry’s Latest Integrated Solution for Advisers

Posted on September 11, 2009 by in Portfolio Management Software, Software

Sure enough, yesterday I posted about announcements coming from technology vendors leading up to Schwab’s IMPACT 2009 Conference.

Today, Tamarac Inc., best known for their SaaS rebalancing solution, announced the release of its Tamarac Advisor® 9 platform (coverage from InvestmentNews). This platform expands on the company’s rebalancing offering to include the following technologies:

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Flood of Tech Announcements Anticipated at Schwab IMPACT Conference

Posted on September 10, 2009 by in General

Schwab’s IMPACT® 2009 Conference begins Monday next week, and buzz is already being circulated about technology announcements from wealth management vendors.

Case in point, CRM Software pre-announced its upcoming releases of Junxure 8, an updated version of its CRM software, and a new offering called Junxure Mobile, a product that allows advisors on the road to access data in Junxure 8 via laptop, Blackberry, or iPhone.

Also just announced is ExpertPlan’s launch of a new trading platform to advisors who custody assets with Schwab.

I expect the flood of announcements to last throughout the duration of the conference, and there will be too many for FPPad.com to keep up with.

Be sure to watch Schwab’s IMPACT® 2009 website for all the details.

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Google vs. Bing: Reinventing Search

Posted on August 23, 2009 by in Technology

This post was originally published at advisors4advisors.com on August 11, 2009. For continuously updated news, information, and commentary relevant to financial advisors, sign up today.

This is a quick post on developments in the search engine space. This advisors4advisors article link talks about Google’s infusion of “caffeine” updates to speed up indexing and improve results. This is likely a response to the introduction of Microsoft’s Bing search engine.

If you’re like me, you don’t want to spend much time searching. Browsing the Internet is so 1990s.

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Surprise Audit Costs Severely Underestimated by SEC According to SIFMA

Posted on August 5, 2009 by in Practice Management

I wrote back in May about the SEC’s proposal to require surprise audits of Registered Investment Advisers who have custody of client assets. The proposal also clarified that custody requirements apply to advisers who withdraw advisory and/or management fees directly from client accounts. Therefore, advisers with custody of client funds would be required to undergo surprise audits, estimated by the SEC to be $8,100.

The Securities Industry and Financial Markets Association (SIFMA) recently said not so fast. $8,100 is severely underestimated.

According to SIFMA, estimates for surprise audits of RIAs who custody funds are as high as $282,800. You read that right: nearly three hundred thousand dollars.

Obviously the exact estimate depends on the amount of assest under management and the number of accounts, custodians, and securities maintained by an RIA.

For more information on the cost estimates, refer to this article at InvestmentNews.

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Save Time & Money: Free Long Distance Calls to Businesses

Posted on August 3, 2009 by in Efficiency, Technology

This post was originally published at advisors4advisors.com on July 27, 2009. For continuously updated news, information, and commentary relevant to financial advisors, sign up today.

Nearly all wealth management firms are experiencing declining revenues and increasing operating costs, compressing profit margins in all areas. Here is one simple solution to save time and money on a ubiquitous entry in a firm’s operating expenses: long distance phone calls.

Google has a free 411 service, GOOG-411, that allows users to call nearly any business nationwide and connect for free.

How It Works

GOOG-411 is simple to use. From any phone, dial 1-800-GOOG-411 (1-800-4664-411). At the prompt, say the business name followed by the city and state. GOOG-411’s voice recognition will attempt to match the request to businesses listed in its ever-growing directory. If the request is recognized, GOOG-411 offers the top listing and will automatically connect to the business unless given other instructions.

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