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FPPad Bits and Bytes for January 28

Posted on January 28, 2011 by in Bits & Bytes

Again, we’re busy behind the scenes working with new clients, preparing new presentations for upcoming conferences, and writing new content for columns and articles. Blog posts are sporadic, but we still reserve the best tech related stories for Friday’s Bits and Bytes update.

Here are this week’s stories of interest:

New Portfolio Management Software For Advisors; AdvisorEdge Looks Good from advisors4advisors.com

AdvisorEdge is a new portfolio management software (PMS) app that is being launched as a result of a patnership between Mike Kelly of Back Office Support Service, and Matt Abar of FinFolio.

Making sense of document storage confusion from InvestmentNews.com

A good document storage system can offer convenience by allowing advisers and clients to share documents securely over the Internet, no matter where they are.

Take Digital Notes, Discreetly from MorningstarAdvisor.com

When attending conferences, advisors may find the process of using a laptop to take notes too obtrusive. Here’s one alternative that makes the process much more inconspicuous.

How a big Atlanta RIA kept sledding with technology after snow paralyzed the city from RIABiz.com

While most Atlantans spent the week ensconced at home, Balentine employees continued with business as usual with the help of laptops, iPads, iPhones, and NetX360.

One Year Later: Revisiting FINRA’s Social Media Usage Guidelines from CMSWire.com

A year ago FINRA, the regulator that oversees brokers and other financial advisors, released guidelines for social media usage. Since then, financial advisors have carefully tip-toed into the social media landscape, thanks to financial networking sites like LinkedFA.com and Smarsh.

FPPad Bits and Bytes for January 21

Posted on January 21, 2011 by in Bits & Bytes

Our review of Laserfiche Empower 2011 is still in its draft stages while we’ve been preparing content for the upcoming T3 Conference in February. It’s been another busy week behind the scenes at FPPad, but we’ve selected a few top stories of interest from the past week:

CashEdge Survey Reveals Opportunities Exist for Advisors to Generate New Fee Income Using Aggregation Technology at Yahoo! News

AllData Advisor’s sophisticated aggregation technology offers opportunity to increase fees charged for advice on held-away assets (Bill says, “Yes, but FPPad readers know this already!”)

iPipeline Acquires GaleForce Solutions and Leading CRM Suite at DestinationCRM.com

iPipeline, a provider of on-demand software that supports marketing, selling, and processing solutions for the nation’s top insurance companies, has acquired Vancouver-based GaleForce Solutions, a provider of advanced CRM with client management, productivity, compliance and security tools, and industry-specific integrations to broker-dealers, banks, wealth management advisors, insurance agents, and other financial services professionals.

Will the Real Financial Planners Please Stand Up at Financial-Planning.com

We call this the “financial planning profession,” right? So here’s a topic for discussion: how is it that many people calling themselves a financial planner don’t actually do financial planning work for their clients?

FPPad Bits and Bytes for January 14

Posted on January 14, 2011 by in Bits & Bytes

We were on the road for the first half of this week attending Laserfiche Empower 2011 in Los Angeles. While we took extensive notes over the 2 1/2 day event, we haven’t had the time to review and summarize them for posting (or post anything else for that matter!).

So check back in a week or two for our thoughts on Laserfiche’s potential to increase its presence in financial services.

Meanwhile, here are this week’s stories of interest:

Fidelity, Schwab and TD Ameritrade prep for arms race in mobile technology for advisors from RIABiz

In the next few months, Fidelity Investments and TD Ameritrade Holding Corp. will launch mobile apps for advisors that deliver functionality from their respective technology platforms, WealthCentral and Veo, according to the companies.

Advisor Tested: iPad proves ideal for advisors on-the-go; the surprise is the effect on clients from RIABiz

Tech Enables Convenient Client Connections, my January column at Morningstar Advisor

Growing advisory firms need easy tools they can use to collaborate with busy clients in real time when an in-person meeting is not possible or practical. Here are four screen-sharing tools that advisors should consider adding to their technology toolkit to enhance client service.

FPPad Bits and Bytes for January 7

Posted on January 7, 2011 by in Bits & Bytes

2011 is off to a roaring start, and this week’s Bits and Bytes captures that fact.

Included are two stories on Orion Advisor Services’ new mobile app for advisors and their clients, two stories on TD AMERITRADE Institutional’s API for their Veo technology platform, and one article on a web-based tool to facilitate new Form ADV Part 2 regulatory filings.

Here are this week’s stories of interest:

Orion Advisor Services Launches App For Mobile Platforms from FPPad.com

In a continuation of 2010’s trend towards mobile device adoption, Orion Advisor Services, LLC of Omaha, Neb. announced today that it released applications for the Android and Apple iOS platforms.

and How Orion Advisor Services became a mobile device pioneer and how competitors plan to react from RIABiz.com

Eric Clarke of Orion Advisor Services is  making accessibility by mobile means a big strategic priority with the development of an Orion app for Droids, iPads and the like.

A Game Changer from Financial Advisor Magazine

TD Ameritrade becomes the first major custodian to open its database so it can integrate with virtually any software firm supporting RIAs.

TD Ameritrade Institutional reporting progress on its open API initiative from InvestmentNews.com

Third-party vendors are anxious to integrate with Veo, TD Ameritrade Institutional’s trading and account management platform and be able to securely exchange data.

ADV Help from Financial Advisor Magazine

This new Web-based platform helps RIAs easily update their regulatory reports.

FPPad Bits and Bytes for December 31

Posted on December 31, 2010 by in Bits & Bytes

This is it, the final Bits and Bytes post of 2010. Bits and Bytes has drawn consistent traffic week after week, so we will continue our efforts to publish what we think are the best tech-related stories for financial advisers from around the web.

Here are this week’s stories of interest, and have a Happy New Year:

Custodians taking closer look at adviser compliance from InvestmentNews.com

Custodial firms have been raising the compliance bar for registered investment advisers, in some cases making it tougher for them to find a home.

Why B-Ds Should Embrace Social Media Now from Financial-Planning.com

Social media is the elephant in the room even if broker-dealer firms refuse to acknowledge its presence. Worse, continuing to do so could cost these firms their top talent as advisors migrate to platforms that help them be more productive.

Small Companies Look to Cloud for Savings in 2011 from WSJ.com

A growing number of small-business owners are expected to try cloud computing services next year, hoping to trim costs and stay up and running if disaster strikes.

Rock Point Advisors Leverages Advent’s Moxy(R) as a Standalone Solution from TradingMarkets.com

Advent Software, Inc., a leading provider of software and services for the global investment management industry, today announced that investment management firm, Rock Point Advisors, is enjoying the benefits of Moxy(R) as a standalone solution. Rock Point is one of the first advisory firms to use Moxy(R) in conjunction with PortfolioCenter(R), Schwab Performance Technologies’ portfolio management solution.

FPPad Bits and Bytes for December 24

Posted on December 24, 2010 by in Bits & Bytes

Merry Christmas from FPPad! Sit down with your favorite browser (might I recommend Google Chrome?) and hot chocolate to take in this week’s Bits and Bytes.

Here are this week’s stories of interest:

SEC’s New Form ADV Requirements: Fidelity Offers Guidance from AdvisorOne.com

Fidelity Investments is scheduling a series of webinars and regional workshops in 2011 to help its registered investment advisor clients who are worried about complying with the Securities and Exchange Commission’s latest regulatory changes.

How Will Mobile Technology Impact Advisors? from AdvisorTV.com

In this 5-minute video, Les Satlow of Cabot Money Management says advisors are embracing mobile technology. Tools including “cloud-like applications,” social media and iPads are helping them get closer to clients and build new business.

Neesha Hathi: Leader of Schwab tech project under pressure from InvestmentNews.com

While she always appears unruffled in public, Neesha Hathi is under pressure to bring Charles Schwab Advisor Services’ multi-million dollar effort, now formally called Schwab Intelligent Integration, to fruition and boost the firm’s chances to remain the top dog among custodians serving the growing registered investment adviser sector.

iPad’s Next Life: Sales, Information & Action Tool from Financial-Planning.com

Tony Mayo thinks the iPad is a “game-changer.” He’s the chief technology officer of Dreyfus Corporation, manager of more than $400 billion in mutual funds and separately managed accounts. And he’s in the process of giving iPads to every one of Dreyfus’ 70 salespeople, across three divisions.

NetX360 Mobile for iPad from Apple iTunes

In today’s marketplace, it is critical that you stay connected. NetX360™ for the iPhone enables you to conduct critical business operations while you’re on the move—wherever you are. It will also help you stay on top of the latest market developments and updates, and provide access to essential activities that support your business.

FPPad Bits and Bytes for December 17

Posted on December 17, 2010 by in Bits & Bytes

FPPad headquarters has temporarily relocated to the mid-Atlantic area for the holidays. Our official consulting work for 2010 is complete, and we look forward to serving new and existing clients in 2011.

We are also happy to provide insight directly on this blog and to our subscribers. Yes, individual posts have been a bit more sporadic, but we continue to aggregate the best in technology-related articles from around the web each week in Bits and Bytes.

With new laws taking effect January 1, 2011, cost basis reporting requirements dominate this week’s update. Here are this week’s stories of interest:

Fidelity® Provides In-Depth Analysis Of Finalized IRS Cost-Basis Reporting Requirements at Fidelity.com

Fidelity Investments®, a leading provider of trading, custody and brokerage services to registered investment advisors and broker-dealers, today announced that it has introduced a new report designed to help its clients understand differences between the proposed cost-basis reporting requirements and those recently finalized by the Internal Revenue Service.

Charles Schwab Advisor Services Cost Basis Legislation Resources at Schwabadvisorcenter.com

The Emergency Economic Stabilization Act of 2008 included new tax reporting requirements that will dramatically change the way investors and financial advisors think about cost basis. The first phase of the legislation goes into effect on January 1, 2011, and may create significant workflow changes for your firm.

Social media shapes new investment strategy at USATODAY.com

You’ll let a friend walk your dog, drive your car or watch your teenager. Would you let them — or someone you don’t even know — invest your money?

FPPad Bits and Bytes for December 10

Posted on December 10, 2010 by in Bits & Bytes

Illness has infiltrated FPPad headquarters, preventing us from doing much of anything work-related. Nevertheless, we still gathered some of the best technology-related stories for advisors from around the Internet for you in one, consolidated post.

Here are this week’s stories of interest:

2010’s Best Tech for Advisors at MorningstarAdvisor.com

In an annual tradition at Morningstar Advisor, December’s column reviews the best technology of the past year for financial advisors and recognizes three truly exceptional products or services.

Laserfiche Announces Salesforce.com Integration for Financial Advisors at Laserfiche.com

Laserfiche today announced the availability of a prepackaged integration with salesforce.com designed specifically for Registered Investment Advisors (RIAs). By integrating Laserfiche enterprise content management (ECM) with their CRM systems, RIAs improve client service, enhance employee efficiency and facilitate compliance.

Socialware Named as Top Tech Company to Watch from Marketwire.com

Socialware, the leader in social media compliance, today announced it has been selected by Bank Technology News as one of the Top Ten Technology Companies to Watch. The company was recognized for its technology, which is helping more than 55 financial brands engage in social media through its Socialware Compass solution, which allows companies to tailor and enforce their social media policy, moderate employee posts and tweets, and archive social data, enabling compliant, secure social media usage.

Advent Software is squandering its market leadership by keeping focus on Axys, according to a hedge fund analyst’s report from RIABiz.com

Advent Software is losing its leading position in portfolio management systems in large part because of its strategy of milking an old, cash cow product just as a growing number of competitors pump out web-based solutions that more readily integrate with complementary applications, make conversions and upgrades easier and often cost less, according to a report by a small investment company owned by a former hedge fund analyst.

FPPad Bits and Bytes for December 3

Posted on December 3, 2010 by in Bits & Bytes

Bits and Bytes was on break last week for the Thanksgiving holiday, so this week you’re getting two week’s worth of technology updates in one.

Here are the stories of interest from the last two weeks:

Technology Survey 2010 from Financial Planning Magazine

This year marks our fourth anniversary, and there is plenty to be excited about. With our growing sample size and a historical record to draw upon, we think we are better positioned than ever to offer readers an analysis of the state of technology within our industry.

Envestnet Launches Industry’s First Advisory Platform to Deliver Comprehensive Support for ‘Unified Managed Household’ at PRNewswire.com

Envestnet today announced the next generation of its industry-leading wealth management platform for advisors, the industry’s first advisory platform with truly integrated analysis, guidance and reporting for the emerging “unified managed household” (UMH) advice model. Advisors employing the UMH model seek to address the client’s entire financial situation through focus on effective deployment of all of the client’s investment assets, not just those managed by the advisor.

eFileCabinet rolls out latest version of SecureDrawer from InvesetmentNews.com

eFileCabinet, Inc., a content management provider (which includes document management), announced availability of version two of its SecureDrawer web-based client portal service.

NetDocuments Gets a Makeover at the NetDocuments SaaS Blog

In the spring of 2011, NetDocuments users will get a new user experience. Without sacrificing any of our industry leading functionality and reliability, we have redesigned the user interface to improve navigation and simplify the management of documents in the cloud.

Shorter Links, Greater Impact at MorningstarAdvisor.com

As you scour the Internet for information on financial planning and wealth management, you often find articles and websites you want to share with clients and colleagues. When you post links to the information on your website, blog, or social network of choice, how do you know how much traffic those links generate?

EISI Upgrades Entire Product Line at FA-Mag.com

EISI, North America’s leading supplier of financial planning software to financial professionals, has announced upgrades to all three of its software packages: NaviPlan Select, Profiles Professional, and Profiles Forecaster.

FPPad Bits and Bytes for November 19

Posted on November 19, 2010 by in Bits & Bytes

Bits and Bytes is taking a break for the Thanksgiving holiday next week, so be sure to return on December 3 for a second helping of the best technology-related articles in financial planning and wealth management.

Here are this week’s stories of interest:

MarketCounsel and Arkovi Announce Partnership at Arkovi.com

MarketCounsel, a leading provider of comprehensive business and regulatory consulting services to independent registered investment advisers (RIAs), today announced a partnership with BMRW & Associates, the developer of Arkovi, a leading social media archiving and monitoring tool, to deliver comprehensive social media compliance and archiving solutions exclusively designed for the securities industry through MarketCounsel’s scalable, enterprise-class messaging solution, MailBanc.

A Clean Path at Financial Advisor Magazine

If you have a sophisticated RIA firm accustomed to a high-end Web package, Portfolio Pathway will not interest you quite yet, but many advisors will find the combination of functionality and value appealing.

Editing your Google Docs on the go at Google Mobile Blog

With Google Docs, we’re always trying to make you more productive—and part of that means making it possible for you to get things done from anywhere, at anytime. That’s why we’re excited that the new documents editor now supports editing on your mobile browser.

IPS AdvisorPro®: Asset Allocation Ranges and Much More at IPSAdvisorPro.com

IPS AdvisorPro® users are now able to identify their portfolio allocation parameters in a variety of ways, rather than being limited to specifying a specific percentage for each asset class. The enhancement will provide important flexibility to users so they can now specify high and low allowable portfolio allocation percentages for each asset class—for example, small cap U.S. stocks might range from 5% of the portfolio to 35%.

And finally, our post on What iOS 4.2 for iPad Will Mean for Financial Advisers

Advisers are cautiously adopting the Apple iPad in their practices. Several enhancements in the device’s latest operating system due out soon should diminish their concerns over security and usability.