AppCrown Archives

FPPad Bits and Bytes for April 1, 2016

Posted on April 1, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Betterment raises $100 million in fresh capital, Fidelity tests FidelityGo, Schwab pulls the plug on OpenView Integrated Office, and more.

So get ready, FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

First, a heads up, Steve and I will be on the road later this month covering the massive NAB 2016 event, scouring the exhibit halls for technology you can use to make great videos and podcasts, followed by the 2016 Shareholders Service Group conference in San Diego. Visit fppad.com/subscribe and sign up today so you don’t miss any of our coverage from the events.

Betterment Raises $100 Million from Betterment.com

[Now on to this week’s top story which comes from Betterment, as the automated investment service raised another $100 million dollars in venture capital, bringing the total amount they’ve raised to $205 million. Betterment is pulling away from a crowded field of robo competitors, now servicing over 150,000 customers, managing $3.9 billion in assets, and valued at a reported $700 million.

Betterment says they will use the funding to grow the Betterment for Business 401(k) platform and the Betterment Institutional offering for you, the financial advisor.

But despite all the money raised and what they say about being their customer’s central financial relationship, Betterment’s questionnaire still doesn’t tell customers that they should pay off high interest credit card debt or build up an emergency fund first before investing. Oh, that’s right, customers can find that advice somewhere on the blog.

So I’ll reiterate what I posted on Twitter this week: Betterment, I hope you use the money to make unbiased fiduciary advice accessible & affordable to everyone.

If you want to read more about the latest round of Betterment’s funding, head over to fppad.com/183 for the links to this week’s top stories.] Today marks an important milestone for Betterment and our more than 150,000 customers who have invested over $3.9 billion with us. We’re excited to announce that Betterment has closed a $100 million investment, led by a new partner, Kinnevik.

Fidelity Starts Testing Robo-Adviser Service on Existing Clients from Bloomberg.com

[Next up is news from Fidelity, as the company announced plans to begin testing Fidelity Go, its own automated investing service for retail investors, with roughly 500 customers this week, with an official rollout sometime in the second half of this year.

If you remember back to November of 2015, Fidelity broke off its relationship to promote Betterment Institutional to advisors, and then coincidentally announced the Fidelity Go retail product that competes more or less with Betterment. Fidelity Go will feature investment portfolios managed by Geode Capital Management, all in fees at 39 basis points or lower, automatic rebalancing, but no tax loss harvesting.

With Fidelity Go as a retail offering, you should know that Fidelity told me that a B2B version is under development, and while they couldn’t give me a solid release date, they did say the offering will be customized to your needs as an advisor.

Nevertheless, Fidelity joins Charles Schwab as an institutional custodian with an automated investment solution in the retail space, but at no platform fee in exchange for a little extra cash allocation, Schwab Intelligent Portfolios, in my opinion, is going to be tough to beat.] Fidelity Investments, the second-largest U.S. mutual fund company, will test an automated-investment service starting Wednesday on a small group of existing customers. Fidelity plans to offer the service to the public in the second half of this year.

Schwab Unplugs Its Customized Version of Salesforce from WealthManagement.com

[And speaking of Schwab, this week’s final story is news that Schwab Advisor Services is discontinuing the Schwab OpenView Integrated Office solution effective July 31. Roughly 150 firms are using the solution, so they’re going to have to find some other technology to replace Integrated Office, specifically the custom version of Salesforce that came with it.

The link to the story at fppad.com/183 has the details on options for affected advisors, including using Salesforce with Schwab OpenView Gateway or migrating to a completely new CRM, but here’s the angle I want to focus address.

This is absolutely an example of what can happen when you choose a custodian’s proprietary solution for a part of your technology. How committed is that custodian going to be to offer that technology over the lung run? In this case, Schwab, for whatever reason, is shutting down Integrated Office, leaving 150 advisors with just three months to figure out what to do.

So I don’t blame you one bit for getting a little uneasy when custodians offer proprietary technology solutions to you that they own and control. But with more custodian acquisitions of technology on the horizon, I’m afraid this is a risk you’re going to have to assume more frequently as time moves on.

One more thing: if you want a firm with Salesforce experience in financial services, get your pencils out, because you should consider contacting LiquidHub, Concenter Services, Navatar, Salentica, or AppCrown.] One hundred fifty Charles Schwab advisors must find a new client relationship manager (CRM) by July 31.

Here are stories that didn’t make this week’s broadcast:

Envestnet | Tamarac Rolls Out New Household Structure and Service Team Functionality in Advisor View™ Client Portal from PRNewswire.com

Envestnet | Tamarac has launched four major software updates designed to strengthen RIAs’ online engagement with clients. The roll-out is part of the firm’s March 2016 technology release.

Advyzon Integrates Laser App Software to Enhance Client Advisor Relationship from LaserApp.com

Laser App Software, the premier provider of forms automation and management software for the securities and insurance industries, has announced that Advyzon, an all in one cloud-based platform combining portfolio management, performance reporting, CRM, client portal and planning, integrated with Laser App Software to enhance its client dashboard.

Marketware International is pleased to announce that it has become a new member of the IBM Watson Ecosystem Partner Program.

Our team has been hard at work creating the AdvisorQA mobile product experience for Financial Services. It provides a new mobile Content Management and Social Collaboration tool that utilizes the cognitive computing and research capabilities of IBM Watson.

Watch FPPad Bits and Bytes for April 1, 2016

FPPad Bits and Bytes for February 21

Posted on February 21, 2014 by Bill Winterberg in Bits & Bytes

On today’s broadcast, why did Microsoft rebrand several of its services, and how might it change the tools that you use, how one large RIA’s technology change created a time savings of over 40%, and a new collaboration hopes to eliminate concerns over support for one Salesforce overlay provider.

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.

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:

Microsoft launches Office Online in battle with Google Drive from TheVerge.com,

Microsoft SkyDrive Morphs Into OneDrive, Bringing New Features from Mashable, and

Microsoft and DocuSign announce strategic partnership to bring eSignature to Office 365 customers from Microsoft

[Now occasionally I get feedback that I don’t pay enough attention to Microsoft, so Mike, this week’s lead story is just for you! The world’s largest software company just announced the rebranding of several of its product lines, beginning with its free web-based versions of Word, PowerPoint, and Excel, formerly known as Office Web Apps.

The company acknowledged that using the word ‘apps’ led to some confusion among its customers, as many assumed that native Office apps for iOS and Android were available, so now Microsoft is referring to the web-based tools as Office Online. While this move hopefully will clear up confusion over the different versions of Office available, no new features were released to coincide with the rebranding. Office Online will continue to store files in the cloud, which leads me to the second story about Microsoft.

Microsoft’s answer to online storage services like Dropbox, Box, and Google Drive has been SkyDrive, but this week the company rebranded SkyDrive to OneDrive, due to a legal dispute over the use of the word ‘Sky.’ Unlike the Office Online name change, OneDrive’s launch DID come with a series of new features.

OneDrive users can now automatically upload photos from their Android devices, which previously was only supported on iOS and Windows Phone. Online collaboration has also improved, as real-time editing in Office 365 documents is now done character by character. And subscriptions to OneDrive are now available on a monthly basis in addition to the annual subscription previously required under SkyDrive.

And rounding out the Microsoft trifecta this week, the company announced that eSignature support will be coming to Office 365 users through a new partnership with DocuSign. Expected to roll out in March, Office 365 users will be able to submit and sign documents using DocuSign without leaving their Microsoft applications. So if you use Microsoft documents for your internal client agreements and disclosure materials, the DocuSign integration should help you further streamline the e-signature process as you complete the on boarding of new clients.]

How a $5 billion RIA’s Laserfiche conversion generated time savings of 40% from FPPad

[Next up is a fascinating case study from a large RIA about its search for a robust electronic document management solution. At last week’s T3 conference, Jim Anderson of CLS Investments highlighted the firm’s approach to converting from IBM FileNet, its legacy content management system, over to a new implementation with Laserfiche. The RIA, which manages more than $5 billion in assets, migrated over 1.5 million documents into Laserfiche, and Anderson estimated that in the first year alone, the firm has realized a time savings of roughly 40%.

There’s a lot more to the story, including a time Anderson said everyone acted as if their hair was on fire, so be sure to get the link to read all the details.] One $5 billion RIA converted 1.5 million documents to Laserfiche in less than a year, saving the company 40% of its collective time

AppCrown Collaborates With a Global Services Major to Help Market, Deliver and Support Their Integrated Financial Services Platform in Banking and Wealth Management from PRWeb

[And finally, many of you who use Salesforce for your CRM might be familiar with AppCrown, the financial services technology provider built on the Salesforce.com platform. In prior years, AppCrown received criticism for failing to provide adequate support to its users who were implementing Salesforce in their business.

So to beef up its support, AppCrown just announced a new collaboration with Mphasis, a global service and solution provider owned by HP. It remains to be seen how the collaboration with Mphasis will improve AppCrown’s support of its financial advisor users, but if concerns about support have stalled your implementation plans, it might be time to reconsider whether AppCrown’s version of Salesforce could be a potential solution for you.] AppCrown, the leading provider for cloud based financial systems across CRM, Banking & Wealth Management, today announced its intent to partner with Mphasis.

Watch FPPad Bits and Bytes for February 21, 2014

FPPad Bits and Bytes for February 22

Posted on February 22, 2013 by Bill Winterberg in Bits & Bytes

The Mobile Adviser, debuting at FPA Business Solutions 2013, March 7-9, Chicago

My latest slide deck is finally complete. It’s titled The Mobile Adviser: Everything financial advisers need to know to be safe, connected, and productive in the Mobile Age.

I’m debuting The Mobile Adviser at FPA Business Solutions 2013 in Chicago on March 7-9, so register for the conference here to be among the first to see it.

Here are this week’s stories of interest:

HiddenLevers Launches Portfolio Stress Testing App to Help Advisors Generate Leads from MarketWire.com

[Highlighted in my update from T3 (see: T3 2013: Top technology to put on your radar), HiddenLevers officially announced their lead generation add-on component to portfolio stress testing. Check out http://rca-online.com/ and click the button on the right-hand column to see this in action. I think it’s a great feature.] HiddenLevers, the portfolio stress testing toolkit of choice for RIAs, Private Wealth and Family Offices, launches a lead-gen application to help Advisors promote their portfolio stress testing capabilities.

Which Portfolio Rebalancing Software is Right for You? from WMToday

[Craig Iskowitz, Managing Director and founder of Ezra Group, has been a part of the financial planning technology blogosphere since February 2009, but I only just encountered his content. If you’re not following Craig (@CraigIskowitz on Twitter) or subscribing to his content, consider doing so. Craig also attended T3 last week and provides a great two-part recap of the rebalancing software panel discussion. If you’re in the market for rebalancing software or want to see how yours compares with new entrants in the market, Craig’s coverage is a must read.] This is a summary of panel discussion from the Tools and Technology Today (T3) Conference that took place February 11-13, 2013 in Miami, FL.

Your Tweets Are More Important Than Your Résumé from BusinessInsider.com

[I’m branching out a bit here with an interesting take on the résumé of the future. Here’s a company that isn’t taking traditional résumés for a job opening (granted, they’re hiring a “six-figure senior social media position”), but rather considering social metrics like Klout score, active Twitter followers, and more. If you’re hiring, do you take social influence into account? And what if your top candidate has significant social influence, do you think that’s actually a risk to your organization?] By now, many employers think that who you are online is more revealing of your character than a résumé. Some companies have decided to stop accepting paper résumés altogether.

Portfolio Pathway and Redtail Technology announce integration from PortfolioPathway.com

[Portfolio Pathway is now in my watch list as another web-based portfolio reporting solution. Their straightforward pricing on top of the typical account aggregation, client portal, and custom report features should be attractive to up-and-coming RIAs as well as breakaway brokers looking for a light footprint when they start out on their own. This announcement of a Redtail CRM integration is also a good sign of collaboration with the industry’s leading software providers.] Portfolio Pathway, the web-based portfolio management system, announced today they have completed integration development with Redtail Technology’s innovative web-based Client Relationship Management (CRM) solution. Advisors using Redtail will be able to view all account data from Portfolio Pathway.

RedBlack Integration with Scottrade® Advisor Services from RedBlackSoftware.com

[Increasing integrations is the best way for any financial services technology provider to gain wider adoption. Here, growing rebalancing software provider RedBlack now connects with Scottrade to retrieve account information from the no-minimum-assets-required custodian. According to RedBlack Chief Software Architect Roel Vlemmings, this marks the company’s 22nd integration with a 3rd party provider.] RedBlack Software today announced the successful integration with Scottrade® Advisor Services. Registered Investment Advisors that custody with Scottrade® Advisory Services can now seamlessly import their portfolio data into RedBlack, use the RedBlack platform to rebalance and trade client accounts and households, and submit trades to Scottrade® for execution.

1st Global Announces New Partnership with AppCrown LLC from 1stGlobal.com

[Very interesting! Having lived in Dallas for three years, 1st Global had a good footprint with regional (and national, too) CPAs and wealth management firms seeking technology solutions from an affinity partner. Now, AppCrown’s Salesforce ISV platform (see: Salesforce for financial advisers solicits bipolar reactions; AppCrown attempts to resolve disjointed CRM) will be rolled out to all of 1st Global’s 400 affiliated firms by the end of the year.] 1st Global, a research and consulting partner of select CPA and wealth management firms, and AppCrown LLC announce a strategic partnership to deploy a cloud-based solution that delivers client relationship management, straight-through processing and business cycle management for wealth management clients.

Preview files in Google Drive from GoogleDrive

[You have dozens of choices among cloud file storage services, including Google Drive. Subtle features differentiate the services, and since you’re trying to be as efficient and productive as possible, you shouldn’t waste time trying to preview documents stored in the cloud. In a race to match file preview features present in other services, Google Drive now offers preview for roughly 30 file types.] It may sound obvious, but sometimes the best way to find something is to start looking. Beginning today, Google Drive will let you quickly preview more than 30 file types and quickly flip between files until you find the one you want.

Salesforce for financial advisers solicits bipolar reactions; AppCrown attempts to resolve disjointed CRM

Posted on October 29, 2012 by Bill Winterberg in Software

Salesforce.com is like black licorice among financial advisers; they either love it or they hate it.

Just 5% of all advisers who responded to the 2011 Financial Planning Magazine tech survey said they use Salesforce as their CRM. For a CRM widely used in other verticals, financial services just hasn’t warmed up to the program.

So along comes a company called AppCrown (you may remember them as E*Assist back in the 00s) with the hopes of successfully implementing the AppCrown variant of Salesforce in wealth management firms.

Here’s a short interview with AppCrown COO Franklin Tsung on why he believes the adoption of Salesforce.com will grow among financial advisers and how the company’s “pure play” integrations will contribute to its success in the market.

(click to view on YouTube)

FPPad Bits and Bytes for March 2

Posted on March 2, 2012 by Bill Winterberg in Bits & Bytes

I spent several days in Washington D.C. this week presenting to advisors on new technology that can enhance personal and professional productivity. If you’re interested in booking me for any of my presentations, see my Speaking page for details.

First up this week is my column for the FPA NorCal Planner March newsletter titled When FPA NorCal and Twitter Collide highlighting the “back channel” discussions going on at advisor conferences.

Now on to this week’s stories of interest:

How AppCrown got a big RIA footprint overnight by handling Salesforce implementations from RIABiz.com

[This is an interesting development. Vendors and custodians are gravitating towards AppCrown, a Salesforce overlay and customization provider. Is it because they excel in supporting advisers, or are they simply the only reasonable option among weak competition? I’m not ready to make a decision one way or the other.] AppCrown LLC has come bursting out of the bulrushes to make itself a go-to technology company for hundreds of RIAs who want to use Salesforce customer relationship management software but who also know that they need help — big-time assistance — in making sure that the conversion and connective tissues are there.

Junxure Announces Agreement With Advisor Group to Provide CRM Integration from PRNewswire

[This is yet another integration Junxure supports with a proprietary system, this time being the Advisor Group’s (formerly AIG Advisor Group) VISION2020 portal. Advisor Group has over 4,600 independent financial advisers.] Junxure, a practice improvement firm that integrates technology, consulting, and training, announced that it has signed an agreement with Advisor Group to provide an integration offering financial advisors the ability to synchronize client data between Junxure and VISION2020 Advisor Portal (Advisor Portal), Advisor Group’s proprietary account tracking system. The integration is included as part of the Royal Alliance, FSC and SagePoint Financial advisor technology offerings.

RMB Capital Management Selects Black Diamond and Advent Portfolio Exchange Platforms to Support $2B Wealth Advisory Practice from Marketwire

[Not to be overshadowed by Orion Advisor Services’ announcement of partnering with a $3 billion RIA, Advent is publicizing its deal to migrate one $2 billion RIA’s portfolio data off of Advent Axys to Black Diamond. It doesn’t seem like a tremendous victory to me. After all, I believe Advent purchased Black Diamond to do exactly this: migrate customers on a legacy system to Black Diamond rather than lose them to the competition like Orion and Tamarac. Update: RIABiz published coverage of this today.] RMB Capital Management and Advent Software, Inc. announced today that they will broaden their strategic relationship by migrating RMB Capital Management’s approximately $2B in assets under management (AUM) from Advent’s Axys® to Black Diamond Performance Reporting, LLC’s platform and the Advent Portfolio Exchange® (APX) platform.

FPPad Bits and Bytes for October 28

Posted on October 28, 2011 by Bill Winterberg in Bits & Bytes

I just came back from Brooklyn where the NAPFA Practice Management and Investments conference was held. While away, I kept an eye on new tech stories for advisers and wrapped them in one nice convenient package for you here:

TD Ameritrade Institutional Veo® Integration with Salesforce CRM Helps Financial Advisors Manage Important Client Relationships from amtd.com

[My Bits and Bytes post for September 9 listed TD Ameritrade’s announcement of an impending release of Salesforce CRM for its advisers. Yesterday, TD formally announced its release, which includes pre-defined workflow sequences advisers can use to get up and running quickly.] TD Ameritrade Institutional today introduced a Veo advisor platform integration with Salesforce CRM and other third party systems. The customized CRM app offers advisors flexibility, automated workflows and easier access to client data to help improve efficiency and client service.

Pershing Expands Anytime, Anywhere Account Access for Investment Professionals and Advisors With the Launch of Web-based NetX360.com from PRNewswire.com

[You knew lots of announcements were coming now, just days before Schwab IMPACT next week. Here’s an update from Pershing, which is in the final testing phase of rolling out a 100% web-based solution for its NetX360 platform. Notably, the platform supports multiple browsers, including Chrome and Safari, which I feel is a very wise decision.] Pershing LLC, a BNY Mellon company, announced today that it has expanded its leadership of anytime, anywhere account access with the introduction of a browser-based version of its innovative, open-architecture NetX360® technology platform.

Turning planning on its head from InvestmentNews.com

[Davis Janowski covers a new entrant into the financial planning software space. Free, web-based inStream from inStream Solutions, headed up by McLean Asset Management’s Alex Murguia, looks to be a streamlined challenger to the established, high-maintenance software applications traditionally used by advisers.] Planning tools that predict a client’s future needs, advanced financial calculators and an integrated contact management system make inStream a robust, cloud-based product.

EISI strikes a deal to cash out its shareholders from RIABiz.com

[A property and casualty insurance software provider bought the maker of NaviPlan. Add this to the Financeware patent-infringement issues from a few months back, and you have some “what’s next?” thoughts with respect to the future of financial planning software.] Faced with an innovation challenge and increased competition, Emerging Information Systems Inc., North America’s biggest financial planning software company, responsible for NaviPlan and Profiles financial planning software, announced yesterday that its shareholders have reached a deal to sell EISI.

FPPad Bits and Bytes for September 30

Posted on September 30, 2011 by Bill Winterberg in Bits & Bytes

I’ve been on the road Monday through Thursday, sharing information on how advisors can use transformative technology in their businesses today. Despite my travel, I am still keeping you informed on the top stories in tech this week.

Here are this week’s stories of interest:

Orion Updates Advisor Desktop for RIAs from AdvisorOne.com

[Orion is in the news again, this time announcing updates to its rebalancing tool to provide household-level management.] Orion Advisor Services unveiled the latest release for it Advisor Desktop portfolio management suite for RIAs on Monday with new features designed to make it easier for advisors using the primary database management tool to rebalance their clients’ portfolios and create tax efficient strategies at the household level.

Fidelity is set to add Envestnet, Redtail, Morningstar, AppCrown and Salesforce to WealthCentral from RIABiz.com

[If you’re a major custodian, you have technology news to share leading up to November. Case in point: Fidelity announces key integrations for its advisors.] As part of an accelerating arms race among RIA custodians, Fidelity Investments has more than doubled — to 11 from five — the number of vendors it plans to invest in integrating as part of its WealthCentral platform.

Trust Company of America is giving RIAs more weapons for free-wheeling from RIABiz.com

[Trust Co. of America announced its Liberty mobile platform two weeks ago. Hear from affiliated advisors on the benefits they see in the system.] Advisors currently using the product say that it takes the use of a mobile platform to a new level because everything that can be seen on a PC can be seen on a smart phone or tablet in the exact same configuration.

Advisor Software Debuts goalGetter App for iPad from Financial-Planning.com

[Today, if you don’t have a solution for mobile devices, iPad in particular, you might as well go back to the drawing board with your strategy. Here’s another iPad app for advisers from Advisor Software.] Advisor Software, a provider of wealth management applications for financial advisors, announced that its goalGetter financial planning application for the iPad is now available for free download from Apple’s App Store.

FPPad Bits and Bytes for September 9

Posted on September 9, 2011 by Bill Winterberg in Bits & Bytes

Originally I hadn’t planned on posting a Bits and Bytes update today. I was on vacation until today and there were no relevant stories that came across my feeds. Then yesterday afternoon came.

While on my return flight to Dallas, my feeds and screens peppered me with updates from many of the major custodians including Schwab, TD Ameritrade, and Fidelity.

But first, my September column for Morningstar Advisor covers a technology product aimed at reducing the manual data-gathering process associated with compliance activities, namely trading supervision and pre-clearance approval. Go read it! Say Goodbye to Paper-Based Compliance Practices.

Now on to this week’s stories of interest:

TD Ameritrade to release customized version of Salesforce from FA-Mag.com

[So if you’re Schwab and announce a partnership with Salesforce in October 2010, then take a year to roll something out to advisers, someone might steal your thunder. That’s just what TD Ameritrade did this week as it announced the rollout of a customized version of Salesforce at about a 40% discount to advisers. I’m going to view the demo this afternoon and hope to report shortly thereafter.] TD Ameritrade Institutional (TDA) is putting final touches on a customized version of Salesforce that it will release in October.

Fidelity Rolls Out ‘Technology Investment Evaluator’ for Advisors from Financial Planning

[Not to be left out, Fidelity is providing its internal consultants with an Excel-based spreadsheet that helps rank the various tools available to advisers by how well the tool might meet advisers’ needs.] Fidelity Investments’ RIA custodian business has announced a new tool, Technology Investment Evaluator, to help advisors run their businesses more efficiently.

And on Monday, I posted that Schwab revealed its new Intelligent Integration website and formed a new subsidiary called Schwab Intelligent Technologies to support the effort.

For my thoughts on Salesforce, read Is Salesforce the future of adviser CRM?

Orion announces integration with Salesforce/AppCrown CRM

Posted on August 30, 2011 by Bill Winterberg in Portfolio Management Software

In his State of the Company address to Orion Advisor Forum attendees, Orion president Eric Clarke announced that the company will be releasing an integration with Salesforce/AppCrown CRM by December of this year.

Orion president Eric Clarke

The announcement wrapped up a series of highlights how Orion is investing in its own business and in the business of its advisor clients.

New for Orion this year is a hardened server facility in Nebraska, an eProfile system designed to streamline the account creation paperwork process, and an Advisor Voice feature on the web, where advisors can submit their votes on top desired features they’d like to see released in the future.

At the conclusion of his address, Clarke described Orion’s vision to fully integrate the Advisor Desktop platform into the Salesforce/AppCrown platform by January 2013. This, according to Clarke, will allow advisors to manage major components of their business, including CRM, portfolio management, billing, and trading, all from within the CRM environment.

FPPad