Tag Archives: Bits & Bytes

FPPad Bits and Bytes for November 8

Posted on November 8, 2013 by in Bits & Bytes

On this week’s broadcast, get up to speed on all the developments from the T3 Enterprise Conference, find out which portfolio rebalancing company just acquired a portfolio management software provider, and another CRM with a long history with advisors gets a fresh start in the cloud.

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 Mimic Technologies, providers of complete outsourced technology support, security, infrastructure and IT solutions exclusively for RIAs.

Mimic Technologies

To learn how you can keep your data safe from attackers, download a free copy of their white paper on social engineering attacks by visiting fppad.com/mimic.

Here are this week’s top stories:

Joel Bruckenstein convenes a wholesale version of T3 for IBD execs who choose software for thousands of reps from RIABiz.com, Trying to harness the power of big data for advisers from InvestmentNews.com, Live from T3: Deploying Tech at the B/D Level and Day Two at T3: A Lack of Data Standards from WealthManagement.com.

[First up this week is a recap of the first-ever T3 Enterprise Conference for broker-dealers and financial enterprises. T3 Enterprise is modeled after the T3 Conference for financial advisors, now in its 9th year, and in full disclosure, I co-produced T3 Enterprise along with Joel Bruckenstein and David Drucker.

If you weren’t able to attend or follow the conference hashtag on Twitter, here’s what you need to know:

Redtail, the leading provider of cloud-based CRM to advisors, unveiled a new platform called Redtail Data Cloud. Redtail Data Cloud aims to tackle the challenge of making sense of “big data” present in disparate or poorly integrated technology solutions, and generate valuable, meaningful insight that was generally only possible after pouring over custom spreadsheets for hours upon hours.

Redtail Data Cloud collects over 500 unique data points across its CRM, email, and document imaging products, and also collects data via integrations with Riskalyze, Advisor Websites, Advisor Deck, ActiFi, and MoneyGuidePro. Look for the platform to debut for both advisors and broker-dealers this January.

Also, two companies exited stealth mode at the conference by introducing new promising products.

The first is CleverDome, is a Scottsdale, Arizona-based startup born from the back-office of United Planners Financial Services. Their two new solutions, SOAR, or Source of Accurate Record, and miVu, or Media Integrated View Unification, are best described as document management tools that are invisible to the user, so if that doesn’t make you at least a little curious about what they do, I don’t know what will.

And second to emerge is Gotham Tech Labs, led by John Rourke, who introduced two new stand-alone products, WealthBox CRM and WealthBase. WealthBox CRM is intended to be a simple CRM with a streamlined interface, but with powerful social and collaborative workflows. WealthBase is an inbound marketing network intended to connect financial advisors with consumers seeking feedback and engagement on their financial needs.] Joel Bruckenstein and his co-producers, David Drucker and Bill Winterberg, made it a two-day event geared toward broker-dealers and large RIAs looking to enhance their advisors’ productivity and simplify the many day-to-day processes of providing advice.

Total Rebalance Expert Acquires PowerAdvisor from Cornerstone Revolutions from PRNewswire.com

[The next story is news hot off the presses from Total Rebalance Expert, the San Diego-based portfolio rebalancing software provider. In a press release issued just today, TRX announced that it acquired the PowerAdvisor portfolio management software solution from Portland, Oregon-based Cornerstone Revolutions. PowerAdvisor will be rebranded as TPX, or Total Portfolio Expert, and TRX will continue to support over 100 firms that use portfolio management software every day in their business.

Financial details of the acquisition were not disclosed, but this deal will likely offer advisors with a tightly integrated portfolio management and rebalancing software package, a single resource for customer service and back office support, and a very capable solution offered at a very compelling price point.] Total Rebalance Expert (TRX) today announced the acquisition of PowerAdvisor’s portfolio management software suite from Cornerstone Revolutions. The combination of TRX’s industry leading portfolio rebalancing platform with PowerAdvisor’s portfolio management system will create a complete and integrated portfolio management solution.

Tech Review: ProTracker Cloud CRM Software from Financial-Planning.com

 [And finally, this week’s broadcast wraps up with an update on ProTracker software, providers of desktop-based CRM to advisors for over 16 years. In his technology column for Financial Planning magazine, Joel Bruckenstein reviewed ProTracker Cloud, the latest CRM to introduce a cloud-based solution, which is built on top of the SugarCRM platform. This is similar to the concept of overlays from XLR8 and AppCrown, which both customize the out-of-the-box Salesforce platform and tailor it for the wealth management environment.

Warren Mackensen, president of ProTracker Software and also an active fee-only financial planner, certainly has the experience of knowing what it takes to run a successful advisory business, so I’m optimistic that he’ll be able to introduce SugarCRM, which hasn’t yet gained much traction among advisors, as a viable contender among cloud-based CRMs.] A well-established product for independent advisors is moving to a platform that will provide increased flexibility and may attract new categories of users.

 News that didn’t make the broadcast:

Dell sells its majority stake in Smarsh to investment fund Toba Capital from Businessweek

[This in an informative review of Smarsh’s odd ownership by Dell, as a result of its purchase of Quest several years ago. Dell was a silent owner for roughly a year, making strategy moves challenging, according to the article. Now that the uncertainty seems all but gone for now, Smarsh is making strides to expand its growth among several industries, including archiving for financial services. They even opened a new office in the Atlanta metro area, about a half hour drive from FPPad world headquarters!] Dell has quietly unloaded its majority stake in digital archivist Smarsh, ending a prolonged period of uncertainty for one of Portland’s fast-growing tech companies.

Watch FPPad Bits and Bytes for November 8, 2103

FPPad Bits and Bytes for October 25

Posted on October 25, 2013 by in Bits & Bytes

(Watch FPPad Bits and Bytes on YouTube)

On this week’s broadcast, get the rundown of all the announcements from Apple this week, the trend of quick financial planning expands to a new software provider, and how you can impress clients with a survey. Yes, I said survey!

So get ready, a special Halloween edition of Bits and Bytes begins now.

This week’s episode is brought to you by Wealth Management Marketing, providers of complete outsourced marketing services for Registered Investment Advisers.

Wealth Management Marketing

Learn how outsourcing your marketing can result in successful custom marketing campaigns that grow your business by visiting fppad.com/wmm.

From iPad Air to Mac Pro: everything you need to know about Apple’s fall event from TheVerge.com

[By now, you’ve probably heard that Apple has further disrupted the hardware and software market as we know it. The company introduced a more powerful line of MacBook laptops, updated the release date of the Mac Pro uber-computer to December starting at just under $3,000, and revealed the both the iPad Air, with its ultra-thin 9.7-inch Retina display weighing in at just one pound, and a new iPad mini, upgraded with its own 7.9 inch Retina display and now priced at $399.

Apple also accelerated the race to zero on software pricing, announcing that Mavericks, the latest operating system for Mac, is now free for all users, and the iWork and iLife suites are free for anyone who purchases a new Mac or iOS device.

So what does all this mean to advisors?

Most of you run your business on Windows computers, with many of you still using Windows 7 and older versions of Microsoft Office.

The cost of upgrading your software is often a deterrent, especially if you need to buy one or two dozen licenses for everyone in your organization. That’s especially true now that Office 365 requires an annual subscription of $99 per person; that adds up quickly!

So with free versions of the latest software from Apple, you need to consider what your businesses technology will look like in the near future. Will you get more value from low-cost PCs that come with non-trivial software costs, or from higher-priced Apple hardware that includes core software for free?

And for those programs that don’t run on Macs: there’s always Parallels or VMWare Fusion if you absolutely must have access to your legacy Windows-only applications.] After a year in which Apple’s product announcements have largely leaked out ahead of time, today the company delivered something of a surprise: a redesigned tablet, the iPad Air, that is the lightest full-size iPad to date at just 1 pound.

SunGard Launches a Financial Planning Solution that Helps Advisors Quickly Create Holistic, Client-Friendly Plans from Sungard

[If you watched FPPad Bits and Bytes for October 11, you learned that Advisor Software published goalgamiPro, the company’s quick financial plan illustration tool, on the Salesforce AppExchange market.

Now the latest company capitalizing on the popularity of quick financial planning tools is Sungard, who announced this week the introduction of a new product called WealthStation CompAct.

The new tool is a single, stand-alone application advisors can use on their own or in collaboration with clients to highlight planning opportunities across eight areas, including cash management, asset allocation, and retirement planning.

WealthStation CompAct allows advisors to create basic plans simply and efficiently to help clients prioritize their financial goals. Should more detailed planning be needed, data from CompAct can be fed into the more robust WealthStation Financial Planning module.] SunGard has launched WealthStation CompAct, a new financial planning solution that gives advisors the ability to produce results-based, holistic financial plans quickly, simply and interactively.

Use Surveys to Impress Clients. Yes, Surveys! from Morningstar Advisor

[And finally, you’ve no doubt read countless articles why it’s important to send surveys to your clients. Client surveys provide valuable insight on what your clients are thinking, but the last thing you want to do is fill up your client’s inbox with another dull, plain-vanilla survey.

Enter a survey tool called Typeform. In four easy steps, you can use Typeform to create fun, yes I said fun, surveys that stand out among the rest. Instead of the standard radio bubbles and check boxes, Typeform gives you lots of options to add color, style, and bold icons to your survey. And since Typeform uses responsive design, your surveys look great no matter what device clients use to offer feedback.] The last thing you want is a client to see your survey request and think, “Hooray–another boring survey from my financial advisor.”

Watch FPPad Bits and Bytes for October 25, 2013, "Halloween Edition!"

Watch FPPad Bits and Bytes for October 25, 2013, “Halloween Edition!”

FPPad Bits and Bytes for October 18

Posted on October 18, 2013 by in Bits & Bytes

On this week’s broadcast, a popular financial planning software suite gets a complete overhaul, find out which investment policy statement provider just got acquired, learn how avoiding social media can actually be a risk to your business, and more.

(Watch 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

Designed by well-known CPA Sheryl Rowling, TRX features tax-efficient rebalancing, an easy to use interface, and more, all at an affordable price. To learn how you can gain a half a million dollar return on your technology investment, download the latest white paper by visiting fppad.com/trx

Here are this week’s top stories:

Money Tree Software Announces New TOTAL ONLINE Financial Planning Solution from MoneyTree.com

[This week’s lead story comes from Money Tree Software, providers of one of the leading financial planning software applications used by advisors. Money Tree’s flagship product, Silver Financial Planner, originally started as a desktop program over 30 years ago, and the company introduced cloud-based versions of its software over the last decade.

But with competitors like MoneyGuidePro from PIETech, eMoney Advisor, and NaviPlan from Zywave all performing major redesigns in recent years, Money Tree’s programs began to show their age. But all that is about to change.

This week, Money Tree unveiled TOTAL Online, a significant redesign of Money Tree’s original software which dramatically simplifies data entry and overall usability. Advisors should find the new layout intuitive to use, but still offers the powerful features advisors have some to expect from their planning software.

And you’ll be glad to know that the complete overhaul did not come with a dramatic cost increase. First year pricing for TOTAL Online is $1,342, which includes both the Easy Money Power Planner and Golden Years Cash Flow modules. This is a 25% savings off the regular price when purchased individually, and in subsequent years, a continuing subscription of both modules is just $999.] We know cloud-based software is important in today’s financial industry because advisors want to create, collaborate, and deliver financial plans anytime and anywhere. But that software needs to be flexible and easy-to-use. That’s why we created TOTAL Online.

fi360 Acquires IPS AdvisorPro from PRNewswire.com

[Now when you use any financial planning software, you’re most likely going to define some kind of investment allocation in-line with your client’s goals and risk tolerance. So how exactly do you define the objectives of your clients’ portfolio? With an investment policy statement, of course.

IPS Advisor Pro, founded in 2006 by advisors Norm Boone and Linda Lubitz Boone, has been the go-to solution for advisors seeking ways to streamline the investment policy statement creation process.

But in news this week, IPS Advisor Pro announced it was acquired by fi360, the leading advocate for fiduciary behavior in the investment advisory world.

Financial details of the acquisition were not disclosed, but in a letter to IPS Advisor Pro users, the company assured that functionality and support of the software would continue as it is today for the foreseeable future. Norm Boone and Linda Lubiz Boone will remain on board as consultants to fi360, but no doubt the acquisition will allow them to devote a little more time to running their own advisory firms as well as other activities and interests.] fi360, the premier organization for fiduciary education, investment analytics, support services and industry insights for financial professionals, today announced it has acquired IPS AdvisorPro®, a cloud-based technology that helps financial advisors develop customized investment policy statements (IPS), which are used to document client investment goals and the subsequent procedures to achieve those goals.

Defend your online reputation before it’s too late from InvestmentNews.com

Kristen Luke, founder of Wealth Management Marketing, gives advisers five ways to combat negative online search results.

Kristen Luke, founder of Wealth Management Marketing, gives advisers five ways to combat negative online search results.

[In other news, you’re probably watching this broadcast because you saw a link on Twitter, LinkedIn, or Google+, so chances are you have some type of presence on social media. But did you know that NOT having a social media presence can actually be a risk to your business?

In her debut column for InvestmentNews, Wealth Management Marketing founder Kristen Luke provided two examples of how an advisory firm’s reputation was tarnished because of unflattering information that showed up on the first page of search results for each company.

So what can you do if your firm’s reputation is affected by online search results?

Luke offer five actions you can take right now to combat negative online publicity and reduce the impact of unfavorable press.] You are at risk for a negative online reputation whether or not you engage on the Internet. Two examples come to mind.

Envestnet | Tamarac builds Tamarac University Online, a massive online training program for the Advisor Xi software suite from FPPad

[And finally, you know how important comprehensive training is when you roll out any new technology in your business. Training is critical to the adoption and success of any tool you introduce in your firm.

The folks at Envestnet|Tamarac understand that, and have rolled out a new massive online training resource called Tamarac University Online.

I got a preview of Tamarac University Online, which features training modules on their entire suite of tools, including Advisor CRM, Advisor Rebalancing, and the Advisor View online portal. Each module features hours of how-to videos and instruction, which you can watch on demand anytime, and since it’s mobile friendly, using any device.] Envestnet | Tamarac builds an online university to help advisers master the company’s total office software

 

Watch FPPad Bits and Bytes for October 18, 2013

Watch FPPad Bits and Bytes for October 18, 2013

FPPad Bits and Bytes for October 11

Posted on October 11, 2013 by in Bits & Bytes

On this week’s broadcast, learn which broker-dealers are stepping up their game in technology, the industry’s first native financial planning app for Salesforce is introduced, what to do when someone steals your online videos, and more. So get ready, Bits and Bytes begins now.

(Watch on YouTube)

Today’s episode is brought to you by the 2013 T3 Enterprise Conference, exclusively designed for the technology needs of broker-dealers and financial enterprises.

T3EClogo600

You have less than one month before this event kicks off on November 3rd in Chicago, so if you’re looking for the best place to monitor trends in broker-dealer technology, you need register today at t3enterpriseconference.com

Upping the Ante from Financial Advisor Magazine

[Continuing with the theme of broker-dealer technology, this week’s lead story comes from Joel Bruckenstein, whose “Upping the Ante” column for Financial Advisor magazine provides a terrific overview at what broker-dealers are doing to deliver leading technology to their representatives.

Bruckenstein covers updates from leading BDs like Raymond James, LPL Financial, United Planners, Commonwealth, and Wells Fargo Advisors. Even if your firm is not affiliated with a broker-dealer, you need to read this column to find out what technology you should be adding to your business so you don’t fall behind in this continuously evolving marketplace.] With advisors’ business models constantly evolving, the pressure on independent broker-dealers to continually enhance their technology platforms has never been more intense. From portfolio management to client relationships, advisors are demanding that competitive brokerage firms up their tech games. This article looks at how five broker-dealers are trying to satisfy those demands.

Advisor Software, Inc. Launches goalgamiPro On salesforce.com’s AppExchange, The World’s Leading Business Apps Marketplace from PRNewswire.com

[Now notably absent from an article on broker-dealer technology is any update on Salesforce, the 800-pound gorilla of enterprise CRM. But one company expanding its support of Salesforce is Advisor Software, creators of goalgamiPro, a quick financial planning software application that I’ve highlighted in the past on my YouTube channel.

Advisor Software just launched a new app in the Salesforce AppExchange for goalgamiPro, giving advisors who use Salesforce the industry’s first native financial planning app for the CRM platform. You can watch a 7-minute demo video of goalgamiPro for Salesforce in action embedded along side the links to this week’s top stories.] Advisor Software, Inc., a provider of wealth management solutions for the financial advisor market, today announced it has launched its goalgamiPro quick planning solution on salesforce.com’s AppExchange, empowering businesses to connect with customers, partners and employees in entirely new ways.

Video theft: the latest threat to online financial adviser content from FPPad

[Switching gears now, a lot of you have asked me how you can create and post videos online to market your firm and generate organic search traffic to your business. But when you post videos online, you need to know that other people with dubious intentions can steal your videos and use them for their own benefit.

This week I discovered two episodes of Bits and Bytes had been reposted to another channel on YouTube and were being used to generate advertising revenue for that channel owner. So what can you do if you find someone allegedly infringing your copyrighted videos? YouTube makes it very easy to file an infringement claim, and when I filled one out for the two Bits and Bytes videos that were stolen, YouTube removed them in less than 24 hours.

Here is the link to access the YouTube Copyright Infringement Notification form.] Content thieves are stealing popular advisor videos to draw visitors to their questionable channels. Find out how to stop them.

Orion Advisor Services, LLC Achieves ISO 27001 Certification from PRNewswire.com

[Finishing up this week’s broadcast is a security update from Orion Advisor Services, the nation’s largest privately held portfolio accounting service bureau and, full disclosure, past sponsor of Bits and Bytes. Earlier this week, Orion announced that it achieved the ISO 27001 certification for meeting rigorous standards required for internal security controls.

The ISO 27001 certification is not easy to achieve, as the audit process is both time consuming and expensive. Orion becomes just the second company in all of Nebraska to receive the certification and joins industry heavyweights like Salesforce and Broadridge as the few financial services firms that are ISO 27001 certified.

But if you seek the gold standard in security controls from your vendors and providers to keep your information safe, ISO 27001 is the benchmark that distinguishes the top companies from all the rest.] Orion Advisor Services, LLC, a premier portfolio accounting service provider, recently completed an independent audit in accordance with the global security certification standards outlined by the ISO/IEC 27001:2005 report (“ISO 27001”).

 

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FPPad Bits and Bytes for September 27

Posted on September 27, 2013 by in Bits & Bytes

On this week’s broadcast, one of the top portfolio management software providers tip-toes its way into the cloud, creating investment policy statements just got a whole lot easier, how a new app can create a real-time dossier about your clients, and more. So get ready, Bits and Bytes begins now.

(Watch on YouTube)

This week’s episode of Bits and Bytes is brought to you by Mimic Technologies, providers of complete outsourced technology support, security, infrastructure and IT solutions exclusively for RIAs.

Mimic Technologies

To learn how you can keep your data safe from attackers, download a free copy of their white paper on Data Privacy and Protection by visiting fppad.com/mimic.

Advent unveils Advent Direct™ — An Innovative Cloud Platform — At AdventConnect from Advent Software

[Leading off is an update from Advent Software, which recently celebrated its 30th year in business last week at the company’s AdventConnect conference in San Francisco. The highlight of Advent Connect is the expansion of Advent Direct™, a cloud-based platform which Mike Golaszewski, Black Diamond’s head of product development, says is an abstraction layer on top of the company’s core product offerings.

While Advent Axys will remain a desktop-based solution for the foreseeable future, it will not be completely isolated from the cloud due to the online and mobile access available through Advent Direct.

And while the news of Advent Direct seems hot off the presses, it’s not entirely new, as Advent has offered an app to iPad users since April of this year for mobile access to client portfolio information.

Advent also unveiled the Advent Direct™ Community, a private online forum that’s part customer service portal and part discussion board, no doubt inspired by collaboration options found on other social networks. Yes, the Advent Users Group on LinkedIn, I’m talking about you!

But the one big unknown regarding Advent Direct is pricing. It remains to be seen how much Advent users will need to pay to route their Axys data into Black Diamond to benefit from enhanced reports.] Advent Software, Inc., a leading provider of software and services for the global investment management industry, today commenced its annual AdventConnect conference taking place September 18 – 20, 2013 at the San Francisco Marriott Marquis.

A One-Click Roadmap for Your Clients from Riskalyze

[Next up is an update from a startup that deserves to be added to your technology radar. The company is called Riskalyze, based in Sacramento, California, which offers patented Risk Number technology in an attempt to quantify client risk tolerance and align it with suitable investment portfolios. This week, Riskalyze expanded its feature set by offering a single-click option to create an Investment Policy Statement.

Whether you believe in the validity of Investment Policy Statements or not (and Stark and Stark’s Tom Giachetti comes to mind), it still doesn’t get any easier than using a single click to generate an IPS document.

So if simplifying your client risk assessment process is important to you, you should learn more about Riskalyze’s offering.] Today, we’re excited to announce that Riskalyze now makes it possible to create this roadmap for your clients with a single click.

Surface Pro 2: hands-on with Microsoft’s new tablet powerhouse and Amazon’s Kindle Fire HDX: Power, With A Helping Hand, both from The Verge

[Now I bet you’ve noticed changes in the air, meaning Fall has arrived, complete with shorter days, football on the weekends, and a deluge of new product announcements. So on the heels of Apple’s new iPhone 5S and 5C announcement two weeks ago, Microsoft announced updates to its floundering line of Surface tablets to compete with the market-dominating iPad. Not to be left out, Amazon also announced a refresh of it’s low-cost Kindle tablets, with a new HDX line of Android-powered tablets starting at just $229.

But the unexpected surprise from all the hardware announcements actually came in the form of a new feature on the Kindle HDX called Mayday. Mayday is an icon on the Kindle users can touch to get free technical support anytime they need it, complete with video conferencing and screen sharing.

While its definitely a cool feature for Kindle users, Mayday actually creates a slippery slope for you as an advisor, as I think it won’t be too long before your clients start to expect a similar easy, on-demand way to access you as their trusted financial advisor.

So if you’re not yet up to speed on using video chat services like Skype, FaceTime, Google Hangouts and more, now is the time to add these tools to your technology portfolio.]

Refresh – The Instant Dossier from Refresh

[Finally, updates to FPPad have been few and far between this month because of the amount of time I’ve been spending on phone calls and meetings. I’ve been speaking with dozens of people, and it’s unrealistic for me to think that I can keep all the details about each relationship straight in my head.

That’s why I’ve turned to a new app called Refresh, (full disclosure, they gave me a free T-shirt), but the app truly helps me keep all the details about my contacts organized in one place.

Refresh connects my contacts, calendar, and social media accounts to create a real-time dossier about the people I’m going to meet. Refresh automatically connect the dots of what my contacts are doing and sharing online so I don’t have to waste time gathering this intelligence on my own.

A beta version of the app is available for iPhone, but Android users will need to sign up to be notified when the app is released to the Google Play store.]

Watch Bits and Bytes for September 27, 2013

Watch Bits and Bytes for September 27, 2013

FPPad Bits and Bytes for September 13

Posted on September 13, 2013 by in Bits & Bytes

On this week’s broadcast, what the new iPhone means to the future of your business, mobile check deposit comes to one of the top custodians, another document collaboration and e-signature partnership, and more. So get ready, Bits and Bytes begins now.

(Watch 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

Designed by well-known CPA Sheryl Rowling, TRX features tax-efficient rebalancing, an easy to use interface, and more, all at an affordable price. To learn how you can gain a half a million dollar return on your technology investment, download the latest white paper by visiting fppad.com/trx

Apple Unveils iPhone 5C and iPhone 5S from the Wall Street Journal

[No technology broadcast would be complete without mentioning this week’s announcements from Apple on the new iPhone 5S and 5C. Nearly one out of every two advisors already use the iPhone for personal and business activity, and few will argue that the capabilities of all smart phones, even Android, Windows Phone, and Blackberry, can really boost an advisor’s efficiency.
So if you’re considering an upgrade to your iPhone, or even a switch from the other manufacturers, here are the three most important updates you need to know.

First, the iPhone 5S features a new Touch ID sensor to unlock your phone using only your fingerprint, further enhancing the device’s security to prevent unauthorized access.

Second, the iPhone 5S comes with iOS 7, the latest version of Apple’s mobile operating system with hundreds of new features. Of most relevance to you is the new AirDrop feature, allowing you to share photos, contacts, and most importantly documents, directly over WiFi using a secure connection. Now AirDrop only works with iPhone 5, and the latest versions of the iPad and iPod Touch, so you may need a backup plan when you want to share documents with clients who have older Apple devices.

And third, any new purchase of an iOS device comes with the iWork apps for free, including Pages, Numbers, Keynote, and iMovie, saving you roughly $40, but also giving you native apps to edit the office documents that you use every day.

But no matter what phone you currently use today, manufactures keep trying to one-up each other with new software and hardware features, and Apple is no different than the rest of the competition. One downside to all this innovation: it does put pressure on your technology budget when trying to keep up with all the new options out there.] Apple Inc. introduced a pair of new iPhones Tuesday with upgraded features, but didn’t stray far from its usual playbook to address concerns about intensifying competition from rivals such as Samsung Electronics Co.

Fidelity adds remote check deposit feature to the WealthCentral Mobile app from FPPad.com

[And in other mobile device news, mobile check deposit is now coming to one of the top institutional custodians to independent advisers. In Bits and Bytes for August 30th, you learned that LPL Financial rolled out remote check deposit to their iOS and Android apps. Not to be outdone, Fidelity announced this week that it, too, will allow advisers to deposit client checks into their accounts using the company’s WealthCentral Mobile app.

Now advisors can’t just download the latest version of the app and start deposits right away, as there is an enrollment process that Fidelity requires. Read the related story to get all the details of the process.] Weeks after LPL introduced remote check deposit in its app, Fidelity becomes the first custodian to offer the functionality to its advisers.

ShareFile + RightSignature: Empowering professionals with e-signatures from ShareFile from ShareFile.com

[Next up is news on a new partnership between leading providers of document collaboration and e-signature software. This week, ShareFile, part of the Citrix family of collaboration tools, announced that it completed an integration with RightSignature, another contender in the e-signature space. I bet you were expecting DocuSign, weren’t you, since I’ve mentioned them in almost every Bits and Bytes episode to date!

But advisors using ShareFile now have the ability to route documents stored in ShareFile directly to RightSignature to obtain client signatures. But not all financial institutions accept e-signatures from RightSignature, so if you’re a ShareFile user, you might need to challenge your custodian to pursue a relationship with RightSignature so you have options when it comes to obtaining electronic signatures from your clients.

There’s a video walkthrough available of the ShareFile/RightSignature integration, so to watch it, just visit the story linked above.] We’re excited to announce our new partnership with RightSignature, a leading provider of secure electronic signature services, to bring you a fast, easy and secure way to obtain electronic signatures on important documents, right from your Citrix ShareFile account.

Fate or Destiny? from TheReformedBroker.com

[Finally, you should know what Josh Brown is up to. Josh who, you might ask? He’s the former broker turned fee-only advisor and author of Backstage Wall Street, which Brown says is “the book [air quote]they[air quote] don’t want you to read.”

So what does Josh Brown have to do with technology?

He’s a prime example of how social media and transparency through technology can literally throw gasoline on a smoldering fire and ultimately transform your business into a enviable growth engine.

On his website this week, Josh announced that he has to go away for a while to work on a handful of major projects, but with his social media presence and visibility as a fee-only advisor, it’s worth your time to put Josh on your radar if you haven’t done so already.] I suppose I don’t believe in fate but I do believe in destiny.

 

Watch Bits and Bytes for September 13, 2013

FPPad Bits and Bytes for September 6

Posted on September 6, 2013 by in Bits & Bytes

On this week’s broadcast, a peek at Junxure’s new cloud CRM for advisers, a custom built workflow system is coming to MoneyGuide Pro, why it’s time you should stop asking clients for referrals, and more. So get ready, Bits and Bytes begins now.

(Watch on YouTube) This week’s episode is brought to you by Shareholders Service Group, offering custodial services, advanced technology, and superior client service to nearly 1,100 independent RIAs nationwide.

Shareholders Service Group

Access leading technology from Black Diamond, MoneyGuide Pro, Redtail, TRX and Envestnet through the SSG open architecture platform. You personally handle your clients’ financial needs, so let SSG be the custodian that personally serves you. For more information, visit fppad.com/ssg

Here are the links to this week’s stories of interest:

Tech Review: Junxure Cloud Reaches for the Sky from Financial-Planning.com

[Leading off is an update on Junxure CRM, as their long-awaited transition to the cloud is just about ready for prime time. Financial Planning magazine technology editor Joel Bruckenstein recently reviewed Junxure Cloud, but hesitated to issue a resounding endorsement of the product. Bruckenstein praised Junxure Cloud’s modern design, reminiscent of tiles found in Windows 8, but cited a lack of functional widgets and live integrations as reasons to wait before fully embracing Junxure Cloud. Those issues, combined with minimum retail pricing of $2,700/year for 3 users, will likely put advisers in a wait-and-see mode to determine if Junxure Cloud eventually lives up to its potential.] Over the years, Junxure has added a few additional products, including ClientView, a client portal service, and Junxure Mobile. But the one component it’s been lacking is a cloud-based CRM product, which it’s been working on for about two years. Those efforts are about to bear fruit.

Financial Planning Software Experts at Money Guide Pro Select Fox Financial Planning Network To Develop Integrated Workflow System from eReleases.com

[Next up is news from MoneyGuide Pro, the most popular web-based financial planning software program used by advisers today. This week, MoneyGuide Pro announced that it selected the Fox Financial Planning Network to develop a custom workflow system to streamline the financial plan creation process. The Fox Financial Planning Network already provides pre-built workflow templates for popular CRMs like Redtail and Grendel, but this development marks the first time a workflow system addresses the steps unique to financial planning software. With over 300 adviser members to date, the Fox Financial Planning Network has clearly positioned itself as one of the go-to providers as advisers seek comprehensive workflow systems for their business.] PIEtech, maker of Money Guide Pro (MGP), the leading financial planning software for financial advisors, officially announced today the selection of Fox Financial Planning Network (FFPN) to develop a custom workflow system to enable MGP subscribers to create financial plans more efficiently as well as to drive adoption of recently added valuable features.

This tiny Irvine company built a pro video-conf product for millions — on top of Google Hangouts from VentureBeat.com

[Now Fox Financial Planning Network is a great example of a company that uses video conferencing and webinars to share information and build their profile. So you’ve probably considered using video conferencing yourself for similar activity with clients and prospects, but have yet to find the right platform. Webex and GoToMeeting might be too cumbersome for some clients use, and Google+ Hangouts might just be a little too informal for your tastes.

One new service attempting to bridge the gap is called Business Hangouts, which claims to be the enterprise-friendly app for Google+ Hangouts. Users get all the useful features of Google+ Hangouts video chats, but also a number of add-ons like event registration, email reminders, virtual 3D rooms, and more that are attractive to enterprise users. Paid versions start at just $9 a month for up to 50 attendees, which is a very steep discount from many of the other online video conference services.] Video-conferencing is a massively turbulent space right now. Large incumbents like WebEx and GoToMeeting are fighting smaller, nimbler, and cheaper options like Blue Jeans Network and the company that actually powers Google Hangouts, Vidyo. But an tiny upstart company in Irvine, California just might unseat them all.

Stop asking for referrals and use technology to drive growth from FPPad.com

[Finally, you are well aware how important referrals are in the organic growth of your business. But one industry consultant insists that it’s time advisers stop asking their clients for referrals. Stephen Wershing, president of The Client Driven Practice and author of book Stop Asking For Referrals, recently sat down with me to talk about the things advisers *should* do to create an effective referral strategy, which includes a few technology tips as well.] Asking clients for referrals can be damaging says one expert; use technology instead to drive your business growth.

FPPad Bits and Bytes for August 30

Posted on August 30, 2013 by in Bits & Bytes

On this week’s broadcast, Laser App unveils new integrations to speed up your form processing, LPL Financial rolls out new technology to its representatives, how one-page websites might be your answer to stand out in today’s crowded marketplace, and more. So get ready, Bits and Bytes begins now.

(Watch on YouTube) This week’s edition of Bits and Bytes is brought to you by Redtail Technology, providers of cloud-based CRM for financial professionals since 2003.

Redtail Technology

Check out their popular advisor solutions and sign up for a 30-day free trial. Visit fppad.com/redtail for more information.

Here are the links to this week’s top stories:

Filling Out Forms No Longer a Pain in the App for Busy Advisors from Laser App and TDAmeritrade

[Leading off is an update on Laser App, the form-filling software provider, who held its annual broker-dealer conference last week in San Diego.At last year’s conference, Laser App unveiled Laser App Anywhere, a cloud-based version of its software that can create account forms in the cloud and on a variety of mobile devices. But Laser App Anywhere was only made available to broker-dealers and their affiliated representatives. That is, until now.

At the conference last week, Laser App announced that TD Ameritrade Institutional will be the first custodian to offer Laser App Anywhere to advisors through the Veo advisor platform. This means that independent advisors who custody with TD Ameritrade Institutional will be able to leverage Laser App Anywhere to simplify their form creation and account opening processes.

In addition, TD Ameritrade Institutional also announced it will integrate Laser App Anywhere with electronic signature capabilities from DocuSign, giving independent advisers one of the first officially-supported straight-through-processing solutions for account-related forms.] TD Ameritrade Institutional Announces Integration of Laser App® Anywhere: a New Cloud-Based Tool to Help Advisors Complete Forms Faster and on Mobile Devices

LPL Financial Unveils Enhancements to Technology Platform at Annual Financial Advisor Conference from MarketWatch.com

[Now Laser App wasn’t the only company holding a conference in San Diego last week. LPL Financial hosted the LPL Financial Focus Conference and announced a number of technology initiatives and updates for its representatives. LPL is the largest independent broker-dealer in the country in terms of both total representatives and assets, so whatever they do, expect the industry to follow suit.

Notable announcements include a new Enhanced Trading and Rebalancing platform being rolled out to representatives over the next 12 months. LPL is offering the rebalancing platform for free through June of 2014, then for $150/month thereafter. Couple that with TD Ameritrade Institutional’s announcement earlier this year that iRebal will be offered for free through the Veo platform, and you can bet this will put considerable pricing pressure on third-party rebalancing software providers.

LPL also released the LPL Financial Mobile app for iOS and Android, giving advisers the ability to monitor client portfolios and send secure messages to clients, all from inside the app.

And finally, LPL continues to expand its support of electronic signatures with none other than DocuSign, as over 80% of LPL’s documents and forms are eligible for electronic signature processing.] LPL Financial LLC, the nation’s largest independent broker-dealer, a leading RIA custodian and a wholly owned subsidiary of LPL Financial Holdings Inc., today announced a set of enhanced technology offerings and new mobile capabilities for financial advisors and their clients, designed to simplify account management; improve practice efficiency and scalability; and enhance the client experience.

Envestnet Completes Integration Of HiddenLevers Application Into Envestnet’s Next Generation Platform from PRNewswire.com

[In other integration news, Envestnet, the unified wealth management technology provider, announced that it completed the integration of Hidden Levers into its platform. The integration was originally announced back in May at the company’s Advisor Summit and was anticipated to be in production by June. Despite the delay, this is another big win for Hidden Levers, the New York-based startup that continues to attract significant attention with its scenario-based portfolio stress testing capabilities.] Envestnet, a leading provider of unified wealth management technology and services to investment advisors, announced today the integration of the HiddenLevers application into its unified wealth management platform.

Quickview: Strikingly Simple Advisor Websites from Morningstar.com

[And finally, if you’re looking for new ways to stand out among a crowded field of financial advisors, consider how your website might be able to differentiate your business from all the rest. Tons of advisor websites use similar templates with navigation menus, photos, and a few columns of text. But a trend in website design gaining momentum is the sinle-page layout.

In my Morningstar Advisor Quickview update this month, I wrote about one service called Strikingly that you can use to quickly set up your own single page website and use it to differentiate yourself from everyone else.] A single-page website might just set your business apart in a sea of advisor website monotony.

FPPad Bits and Bytes for August 16

Posted on August 16, 2013 by in Bits & Bytes

On this week’s broadcast, Fidelity shows what Google Glass might do to change wealth management, a startup looks to tame the onslaught of digital statements, controversy over GMail’s privacy policy, and more.

(Watch on YouTube) This week’s edition of Bits and Bytes is brought to you by Orion Advisor Services, the nation’s largest privately held portfolio accounting service bureau.

Orion Advisor Services

Providing full-service data reconciliation, advisory fee billing, Salesforce integration, mobile apps and more, Orion believes it’s time for you to enjoy your business again.

Visit fppad.com/orion for more information.

Fidelity Market Monitor for Glass from Fidelity Labs

[First up this week is news from Fidelity Labs which just developed, oh wait, I just got a stock alert from my glasses. Right! Fidelity Labs developed an app for Google Glass, Google’s entry into the wearable computing market. Using the app, anyone donning Google’s controversial glasses can log in to their Fidelity account with voice authentication, get real time quotes by taking a picture of a company logo, and receive trading alerts. While the app is a glimpse of the not-too-distant future of mobile computing, I would not be surprised to see many of the quote and news-related updates provided by default in the Google Glass operating system. Still, the ability to perform account-related functions without having to hold a device in your hand can prove to be very popular, especially as wearable computing devices mature and become more socially acceptable.] Fidelity Labs is participating in a Google early developer program, and is working with a prototype of Google Glass to better understand the technology and how it may benefit our customers.

FileThis Fetch iPhone app available from FileThis

[Next up is news from a start-up in California called FileThis, which is new to my radar. Many of you are slowly making the transition to a paperless office, but you also should recognize how you can help clients make the transition to a paperless home. Nearly all of the major financial institutions provide statements we can download, but with ten or twenty accounts spread across banks, credit cards, and investments, it can easily take hours on the weekend to download and organize everything. This is where FileThis comes in. This week, FileThis released a free app for iPhone and iPad called FileThis Fetch. Within a few minutes of creating a free account, users connect their financial accounts and FileThis will automatically Fetch electronic statements and PDF files, and then route them to the user’s destination of choice, including Evernote, Dropbox, Personal, and Google Drive. Six connections are available for free, and users can purchase up to 30 connections for just $5 a month.] FileThis, a Marin, California-based startup, today announced the availability of an iPhone app for its award-winning FileThis Fetch service that lets consumers go paperless

No, Google did not say that there is no privacy in Gmail from TheNextWeb.com

[In online privacy news, Google’s GMail service made headlines this week as the company’s lawyers cited case law where, now I’m summarizing here, users of web-based email services cannot have a legitimate expectation of privacy when voluntarily turning over information to third parties. Websites like Consumer Watchdog and Gizmodo crafted pretty sensational headlines this week, making it sound as if Google had all but given up on protecting users’ privacy when they use the company’s free GMail service. But that’s not entirely true. Josh Ong at The Next Web helped clarify what Google’s lawyers actually said, and pointed out how their quote was taken out of context and blown out of proportion. But as an advisor, you should be concerned about how much information you volunteer to third party services, and would be well served by using business-class providers that have clear and explicit privacy policies. This means using email from Google Apps for Business, Redtail Email, Smarsh, and many more.] Earlier on Tuesday, Google was quoted by Consumer Watchdog, RT.com (Russia Today) and Gizmodo as having argued in a legal motion that customers have “no legitimate expectation of privacy”, but the quote has been taken out of context.

Video Creation 101 for Advisors – Join the Webinar! from Advisor Websites

[And finally, if this is the first Bits and Bytes broadcast you’ve watched, or you caught all three, you might be inspired to start your own broadcast to raise your own online profile or communicate with clients in new ways. If so, you’re in luck, because I’m teaming up with Advisor Websites to broadcast a free webinar about Video 101 for Financial Advisors. So clear your calendar for Tuesday, August 27th at 2pm Eastern, 11am Pacific, and sign up for this free webinar.] Advisor Websites is thrilled to announce that we’ll be presenting a brand new, action-packed webinar with our friend and trusted financial technology expert, Bill Winterberg! Join us as we present a comprehensive and simplified explanation designed to help you begin creating and sharing video content online.

FPPad Bits and Bytes for August 9

Posted on August 9, 2013 by in Bits & Bytes

I spent all day Thursday traveling out and back to Minnesota, but I still managed to find time to write and produce this week’s episode of Bits and Bytes (click to watch on YouTube).

First, a word from this week’s sponsor. Without their support, Bits and Bytes wouldn’t be possible!

Today’s Bits and Bytes is brought to you by the 2013 T3 Enterprise Conference, exclusively designed for the technology needs of broker-dealers and financial enterprises. Mark your calendar for November 3rd through 5th in Chicago, and register today at www.t3enterpriseconference.com

Here are this week’s stories of interest:

Find your lost phone with Android Device Manager from the Android official blog

[This week’s lead story is for all of you Android users out there. Now there’s one less reason to be jealous of your fellow iPhone owners. Late last week, Google announced that it will be introducing an app called Android Device Manager later this month for all users of Android version 2.2 and higher, which pretty much means 98% of all the Android devices on the market. Now iPhone and iPad users have been able to track, lock, and even remotely wipe the contents of their devices since 2010 using Apple’s Find My iPhone app, and Windows phone and Blackberry users have also had remote device management apps of their own for some time. Finally, this long-overdue app from Google will especially be useful for those of you using Android devices, because you can now have better remote administration of lost or stolen devices that may contain personal or client information.] Have you ever lost your phone in between the couch cushions or forgot it in a restaurant? Or maybe searching for your phone before you rush out the door is part of your morning routine? Later this month, the new Android Device Manager can help you out. It’s one of a few simple features you can use to keep your device—and the data you store inside—safe and secure.

Mobile Portfolio Management Gets Easier from Morningstar.com

[Speaking of mobile devices, huge numbers of financial advisers are using mobile devices to stay connected and get work done while on the road. But one of the areas with significant room for improvement is the use of mobile devices to check client portfolios, especially for clients with accounts at multiple custodians. All of the major custodians have mobile apps you can use to check on client accounts, but those only work for clients who hold all their assets with one institution. Fortunately, third party portfolio management software providers have their own apps advisors can use to review all of their clients’ holdings, regardless of where they are held. Two and a half years ago, Orion Advisor Services was one of the first to debut a mobile app for advisors, and just last month they updated their app with a cleaner, sleeker version advisers should find more user friendly. And another provider to watch is AssetBook, which launched its own app for advisors, also about a month ago. Details of what you’ll find in each mobile app are in this month’s column for Morningstar Advisor.] One of the first mobile portfolio management apps for advisors gets an update, while an under-the-“radar” provider debuts its own native app.

Laserfiche Announces Integration with DocuSign eSignature Platform from MarketWire.com

[Now for some news in the document management arena. It’s pretty to easy to scan paper documents or save PDF files to a document management system, but applying client signatures to those documents has always been a challenge. Often the easiest thing to do is to just print out a document, have a client sign it, and then rescan it back into the system. It gets the job done, but it’s not really efficient, and that means it costs you money. Fortunately, Laserfiche, the enterprise content management provider, announced this week that their solution now integrates with DocuSign, one of the leading electronic signature providers. And remember, custodians such as TD Ameritrade Institutional, Fidelity Institutional Wealth Services, and Pershing, as well as broker-dealers like Cambridge and LPL accept documents signed using DocuSign, with just a few exceptions. So this development is welcome news for all advisors seeking a true end-to-end paperless solution for processing client forms that require signatures.] Laserfiche today announced an integration with DocuSign, The Global Standard for eSignature®, to further enhance the value of the company’s industry-leading enterprise content management (ECM) solution with secure electronic signature.

Six tech tools that help you improve your writing output here at FPPad.com

[Wrapping up this week’s update is an article from Susan Weiner on six technology tools you can use to boost your writing output. Susan is the author of a brand new book titled Financial Blogging: How to Write Powerful Posts That Attract Clients, and this week she shared her best technology tips on FPPad for all of you looking to build your online profile with effective blog posts.] Writing is a cerebral art, but sometimes technology helps. I’ve found six tools that can boost the quality and productivity of your writing. They play the roles of idea generator, disciplinarian, transcriptionist, enforcer, and mistake revealer.

And if you want to read the best material in financial planning knowledge and information over the weekend, click or tap the button below to head over to Michael Kitces’ Nerd’s Eye View blog and see the latest in Weekend Reading.

Click to view Weekend Reading at Kitces.com