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PODCAST: How PreciseFP streamlines routine data gathering and client collaboration

Posted on December 18, 2012 by in Efficiency, Podcast, Software

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Don Whalen, co-founder of PreciseFP

Client data gathering and form filling are the least glamorous tasks that make up your workday, but the activities are essential to create financial plans with correct information.

Fortunately, there are a few solutions that can significantly streamline the arduous data-gathering process.

One product is PreciseFP, co-founded by Don Whalen and Sebastian Skwarek in 2008.

In what probably sets the record as the longest time between my initial discovery (see: Has Laborious Client Data Entry Met Its Match? from September 2008) and follow up, I connected with Don Whalen to learn about PreciseFP’s growth over the last four years and how PreciseFP has matured to be a reliable, cost-effective tool advisers can use to facilitate the data gathering.

Listen to the podcast below, and note that Whalen provides a discount code all listeners can use to receive 15% off their subscription to PreciseFP (not an affiliate code, I receive no referral fees if you sign up).

How to find alternatives to popular apps and programs

Posted on October 4, 2012 by in Efficiency, Software

Last month Tungle announced they’re shutting down their popular public calendar and scheduling service (see: Tungle, my go-to calendar service, is shutting down. Here are public calendar alternatives financial advisers should consider).

I used Tungle to book well over 200 meetings, so I’m going to need to identify a suitable substitute for a public calendar.

What’s an easy way to do that?

One way to quickly identify alternatives to popular apps and programs is a website I covered in my latest Morningstar Advisor Quickview post.

Find out what it is by reading Quickview: Quickly Identify Alternate Software Solutions

Trumpet Publisher might be your answer to manually uploading hundreds of files to a file sharing site

Posted on September 26, 2012 by in Efficiency, Software

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Jo Day, co-founder of Trumpet, Inc.

In my presentations to advisers, I talk about file sharing and synchronization services like Dropbox and ShareFile as an alternative to client web portals.

These file sharing services can sync to a folder on your local computer, so uploading and downloading files is as easy as dragging-and-dropping them in and out of a folder.

But what happens if advisers need to deliver hundreds of documents to all of their clients at once? This is exactly what happens during the quarterly portfolio reporting period.

One solution to avoid manual work is a new product from Trumpet, Inc. called Trumpet Publisher.

Trumpet Publisher integrates with the popular file sharing service ShareFile from Citrix (see: Rob Kirkland tells how ShareFile can be an alternative to Dropbox for advisers). The integration was announced in the press release a few weeks ago (see: Trumpet, Inc. Integrates with Citrix ShareFile)

To learn more about Trumpet Publisher, I spoke with Jo Day, co-founder of Trumpet, Inc., about her company’s latest product and how it can streamline many manual processes when attempting to share hundreds of documents with hundreds of clients at once.

Click the player embedded below to listen to the podcast.

Tungle, my go-to calendar service, is shutting down. Here are public calendar alternatives financial advisers should consider

Posted on September 18, 2012 by in Efficiency, Software

My Tungle.me calendar

Update, August 2016: I added Assistant.to, a slick Chrome plugin that works only with personal and corporate Gmail and Google Calendar accounts.

With a hat tip to Atlanta-based adviser Russ Thornton, I learned that Tungle.me, my go-to public calendar service, announced today that it is shutting down in December.

See the Life is About the Journey post from Tungle founder Marc Gingras on the company blog.

Sad but not surprising

This is a big disappointment, but it is not unexpected. Ever since being acquired by Research In Motion (the makers of BlackBerry mobile phones) in April 2011, Tungle’s blog and Twitter feed went silent, and customer service stopped responding to inquiries, mine included.

Still, over the two years that I used the service (see A Simpler Way to Schedule Meetings at Morningstar, login required), I booked well over 200 meetings and avoided unnecessary correspondence.

Why advisers need a public calendar

In my Transformative Technology You Can Implement Today presentation, I demonstrate how financial advisers can stop playing “email Battleship” when attempting to schedule meetings.

Instead of the constant back-and-forth emails trying to lock down a time that works for all those involved in a meeting, public calendar services allow one or more attendees to draw in the times they are available, and everyone receives a confirmation when a time is identified that all can attend. No more “how does Tuesday at 1pm work for you?” volleys.

Tungle alternatives

Never one to leave FPPad readers out in the cold, here are some free and low-cost alternatives to Tungle worth investigating. I’m not making any one specific recommendation now, but will soon have to switch my own public calendar over to one of these services (now sorted with the most recently modified first).

Have any others to recommend? Leave a comment below.

Ditch your antiquated office phone and upgrade to a modern system

Posted on August 22, 2012 by in Efficiency

Today you work in more places than just your office. Mobile devices and wireless Internet access allow you to choose from where you work and when you are available for clients.

So why do you continue to direct clients and prospects to call you on your office phone?

It’s time to get rid of the antiquated phone system installed in the office and upgrade to a more flexible service.

This month’s Quickview for Morningstar Advisor covers one phone service that lets you choose when and where you’re available by phone for anyone who calls you.

Be sure to read Quickview: Upgrade Your Outdated Phone System at Morningstar Advisor today.

How to host effective conference calls and get the most out of what used to be a dreaded experience

Posted on June 28, 2012 by in Efficiency, Practice Management

Let’s face it: this guy in the photo above is your worst nightmare for conference calls. Wind noise, road noise, and constant interruptions break the discussion flow and disrupts the thought process of everybody participating in the call.

In today’s Morningstar Advisor Quickview update, I highlight a new service designed to reduce all the frustrating things about conference calls so you can focus on collaborating and getting work done.

Go read Supercharge Your Next Conference Call at Morningstar Advisor and try the service for your next call.

How to save $325,000 in your wealth management business

Posted on June 14, 2012 by in Efficiency, Software

You have the potential to save over $325,000 in overhead by adopting one software tool.

As an adviser, you’re always looking for tools and technologies that help you run a more efficient business while increasing the level of service you provide for your clients. That’s one reason why you’re here at FPPad looking for the latest info on solutions.

In this month’s Morningstar Advisor column, I reviewed one software tool that has the potential to save six figures in your total overhead costs each year. And that’s not a made up number. That figure comes from a survey of 20 users that use this software every day.

Find out what it is by reading One Tool With Six-Figure Savings Potential.

 

Financial advisers need a smarter approach to manage social media

Posted on May 25, 2012 by in Efficiency

So you decided to dip your toe in the social media waters. At first you start with, say, a LinkedIn profile update, then create your own Facebook page, and follow up with your first tweet on Twitter.

Pretty soon this innocuous activity grows into a larger drain on your time. What’s especially challenging is keeping all of your profiles updated with information you want to share with your audience.

There has to be a better way!

Fortunately, my Quickview post this month for Morningstar Advisor tells you about one tool that can add some smarts to your social media management.

It’s titled Make Your Social Web Smarter, and you better go read it right now!

A public thank you to Alex Murguia, CEO of inStream Solutions, for the tip.

 

My favorite road warrior accessory for advisers on the go

Posted on May 16, 2012 by in Efficiency

I travel a lot for business, between all the consulting, speaking, and interviewing I do.

I imagine I’m like most of you when it comes to traveling with electronic devices. My road bag holds an 11″ MacBook Air, new iPad, LG mobile phone, and all the power cords that go along.

One of my favorite road warrior accessories simplifies my problem of how to plug all of these devices in. It’s the portable travel outlet sold by The Container Store, and now through June 24, you can buy the outlet for $11.99, 20% off regular retail price.

Here are my favorite ways to use the outlet.

First, when you’re low on battery but can’t find an open outlet at the airport or coffee shop, kindly introduce yourself to another fellow road warrior who plugged in her device to a power outlet. Show her your outlet and ask, “Mind if we share?” I’ve never been turned down, and occasionally I strike up a conversation and get some networking out of the opportunity.

Second, while most hotel rooms have desks to work on, many offer just one power outlet. Others are entirely across the room, or worse, behind the nightstand that requires a complete furniture redesign to access. With the travel outlet, the one accessible outlet now becomes three, and I can plug in my MacBook, iPad, and phone without moving furniture.

I don’t get paid to recommend $12 travel outlets, but I suspect you’ll find this a slick addition to your own road bag!

 

How financial advisers can improve their personal workflow

Posted on April 27, 2012 by in Efficiency, Software

Let’s face it. Time after time you hear speakers at conferences and on webinars talk about implementing workflow processes in your practice. It easy to talk about, but much harder to effectively implement in a busy financial advisory firm.

So why not start small and target your own personal workflow?

In this month’s Quickview update for Morningstar, I cover a clever web app designed to help you do one thing: master your personal workflow.

Workflowy is a clever web app to help you tackle your personal workflow

Workflowy is the app I reviewed, and the screenshot above shows you an example of how I use it for my own workflow. Read the full column and start experimenting with Workflowy this weekend.