Tag Archives: Bits & Bytes

FPPad Bits and Bytes for September 21

Posted on September 21, 2012 by in Bits & Bytes

I’m attending the final day of the Gemini Orion Advisor Forum 2012 today, so be sure to check the #GOAF12 hashtag on Twitter for the latest event updates.

Here are this week’s stories of interest:

Is Your Website Mobile? Three Do’s and Don’ts from Financial-Planning.com

[You have looked at your website with a tablet or smartphone recently, right? If not, you need to do it now and see if it’s at all user friendly. Just about 15% of all traffic to FPPad comes from mobile devices (80% of that is all from iPhones and iPads), so it’s more important than ever before to be mobile friendly.] It’s no secret that the rise of mobile devices has created one of the largest shifts in consumer behavior in the last 40 years.

FPPad Bits and Bytes for September 14

Posted on September 14, 2012 by in Bits & Bytes

Here are this week’s stories of interest:

New Apps for the Mobile Financial Adviser from The Wall Street Journal

[Clearly, mobile devices and their software apps are changing the way you do business. Expect even more functionality and enhanced security, such as facial recognition or biometrics, for mobile devices in the coming years.] Smart gadgets packed with apps are changing the way financial advisers do business and relate to their clients. As more advisers snap up mobile devices like iPads, the investment firms they work with are offering up apps that let them do their jobs from a small screen.

Money management, Silicon Valley-style from Forbes

[Forbes managed to extract info from start-up Addepar that both RIABiz and I failed to get. Now we know Addepar charges 5 basis points on AUM, generates about $25 million in revenue, has 75 “lean” employees, and a sales force with connections to the ultra high net worth segment of the wealth management market.] Having made a small fortune in his twenties, Joe Lonsdale has set his sights on a new challenge: designing software for the ultrawealthy.

Personal Capital Unveils its Professionally Managed 401(k) from Finovate.com

[So who out there has 401(k) fee evaluator tools? Brightscope and FutureAdvisor do, and they’ve been mentioned here before. Now start-up RIA Personal Capital has one, too. Add this to their free mobile app, free peer-to-peer payment support, and free stock option analyzer, and you’ve got a robust offering of pipeline-filling marketing tools. Oh, and they now are selling “America’s BEST 401k” plan at http://www.personalcapital401k.com/ with management fees around 50 basis points.] Personal Capital will be demoing its free 401(k) fee calculator, which enables users to determine how much their 401(k) costs and what long-term fees they can expect to pay over time. The calculator has the potential to save investors hundreds of thousands of dollars over a lifetime.

Advent Adds Alternative Investments Solution to Black Diamond Platform from MarketWatch.com

[Alternative investments are gaining adoption among financial advisers. The challenge with them, though, is getting updated data populated in a portfolio management system like PortfolioCenter, AssetBook, and in this case, Advent. From the press release, it sounds like advisers have a way to perform bulk updates to alternative assets in Advent’s Black Diamond platform. If there were 30 hours in a day, I’d have specifics for you on how that actually takes place.] Advent Software, Inc., a leading provider of software and services for the global investment management industry, today announced the launch of an alternative investments solution within the Black Diamond platform. The new functionality enables advisors and wealth managers to manage and report the details of their alternative investment holdings down to the transaction level allowing them to provide a more complete financial picture to their clients.

MarketCounsel Sells MailBanc Messaging Unit to Global Relay from AdvisorOne

[MarketCounsel’s MailBanc email archiving service was one I covered last year in a review of archiving providers for Morningstar (see Avoid E-mail Audit Headaches). Thursday MarketCounsel said it sold MailBanc to archive provider Global Relay, who by no coincidence, was also featured in the same Morningstar column. When MailBanc was launched, advisers had few choices for email archiving. Today, there are many more options. As founder Brian Hamburger said, “The industry has now matured to a point where we can step aside and continue our focus on RIAs.”] “We have sold our MailBanc messaging compliance service to Global Relay,” Hamburger said, offering no details of the deal.

Junxure Achieves Company Milestone, Surpasses 10,000 Active Users from eReleases.com

[The number-two CRM (according to most financial advisor surveys, and excluding Microsoft Outlook!), now has over 10,000 users on its platform. This is a good milestone for a niche product, but the company faces an uphill battle to close the gap with leading CRM provider Redtail Technologies, which at last report had over 43,000 users.] Junxure, an industry-leading CRM practice improvement firm that integrates technology, consulting, and training, today announced that it surpassed 10,000 active users on its Junxure CRM as of July 2012.

FPPad Bits and Bytes for September 7

Posted on September 7, 2012 by in Bits & Bytes

Welcome to September!

Here are this week’s stories of interest:

Advisors Fed Up with Mediocre Financial Planning Technology from Financial-Planning.com

[I’m awaiting a copy of Tiburon’s survey to determine their methodology. If they asked a bunch of broker-dealer reps, then yes, survey respondents are going to be largely dissatisfied with technology. But for independent RIAs? Choices today are much more plentiful than ever, with ever-expanding APIs (see: TD Ameritrade Institutional’s Veo® Open Access to enhance trading, fee billing, and client on-boarding processes) and new integration “middleware” (see: Welcome To The Hub).] According to a survey by Tiburon Strategic Advisors, almost all the planners called the current technology offerings merely acceptable or downright unsatisfactory.

Grendel Online iPhone and iPad App Now Available from Grendel Online

[I covered Grendel Online back in January for Morningstar Advisor (see: One Capable CRM Flying Under Most Advisors’ Radar). Back then, CEO Aaron Guidotti showed me a beta version of the Grendel Online app for Android. Now, the CRM has an app for iPhone and iPad in the App Store.] View Grendel Online Mobile in the Apple App Store.

FPPad Bits and Bytes for August 31

Posted on August 31, 2012 by in Bits & Bytes

Here are this week’s stories of interest:

After a year under wraps, Laser App unveils a new “anywhere” product at its sixth annual conference in San Diego from RIABiz.com

[So how many electronic forms to you fill out each year? Hundreds? Thousands? And how many of those do you fill in manually by hand? Laser App, known for its form-filling capabilities, now has a SaaS solution advisers can use to process forms using any Internet-connected device, smartphones and iPads included.] Laser App Software Inc. capped off a year of development with the debut of its new web-based technology platform at its sixth annual conference last week.

BlazePortfolio Continues to Build Partnerships from BlazePortfolio.com

[BlazePortfolio is the creator of ATOM ALIGN, a portfolio rebalancing and trade order management solution for financial advisers. President Bryson Pouw gives a summary of new partnerships and integrations the software company has released this summer.] At BlazePortfolio our goal is to streamline the rebalancing and trading process from end-to-end.  We’ve recently added new integration partners on both ends including three portfolio accounting systems (AssetBook, Morningstar Office, and SunGard Charlotte), a back office outsource provider (Empaxis), and Pershing as an electronic trading partner.

FPPad Bits and Bytes for August 24

Posted on August 24, 2012 by in Bits & Bytes

Here are this week’s stories of interest:

Advent and RedBlack Join Forces to Offer Rebalancing Solution to Investment Management Professionals from MarketWire.com

[Not one to avoid integrations, Advent is starting to respond to the competitive landscape by supporting connections to third party providers, too. Here’s the latest partnership with portfolio rebalancer RedBlack, solidifying Advent as an end-to-end portfolio management solution when coupled with previously-acquired Black Diamond (see Advent Purchases Black Diamond Performance Reporting for Approximately $73 Million).] Advent Software, Inc., a leading provider of software and services for the global investment management industry, and RedBlack Software, LLC, the largest independent provider of portfolio rebalancing software for the investment management industry, today announce that the two companies have entered into an alliance agreement to improve client use of best of breed solutions and have completed full integration between Advent Portfolio Exchange(R) (APX) and Axys(R) platforms, and RedBlack’s portfolio rebalancing solutions.

Mikogo Releases HTML5 Screen Sharing for Faster Online Meetings from PRWeb.com

[I’m very critical of online meeting software these days, particularly of certain tools that casual Internet users find too cumbersome to use. Mikogo’s been highlighted on FPPad before (see BeamYourScreen Releases Mikogo 4.0 Beta, Adds New Features), and now the company has simplified its application for end users, as they no longer need to download and install a helper application prior to joining a meeting.] A leader in online meeting technology, Mikogo has today announced the release of a major update to its award-winning HTML Viewer with the incorporation of the new HTML5 standard for Internet browsers into the software. The HTML Viewer is a 100% browser-based way for participants to join online meetings and this new release built on HTML5 technology provides users with faster screen sharing,several new features and is multilingual.

With $4 Billion In Assets Under Wraps, FutureAdvisor Raises Another $5 Million From Sequoia Capital from TechCrunch.com

[FPPad readers know of FutureAdvisor and its free 401(k) aggregation tools for consumers (see: FutureAdvisor co-founder Bo Lu at FinovateSpring 2012). Just four months after releasing its tools to the public, the company completed a $5 million Series A round. The stakes continue to raise in this direct-to-investor advice trend.] FutureAdvisor has raised a $5 million Series A round from Sequoia Capital to accelerate its growth, and it’s also rolling out a new tool to help users save on fees in their 401(k) portfolio.

LPL Helps Advisors Use Social Media Compliantly from Financial-Planning.com

[If you’re still on the fence about whether to use social media, broker-dealer LPL has useful guidance in this article from Financial Planning. However, I find the ‘Yes’/’No’ format a little strange. Note that much of the social media compliance for LPL is handled by Erado (see: Six More Designate Erado as Their Social Media Compliance Provider).] Run by a firm called Erado, LPL’s social media compliance service costs $180 a year for its advisors to use Facebook, LinkedIn and Twitter (that’s $60 for each platform). It archives all social media communication for potential review by regulators.

FPPad Bits and Bytes for August 17

Posted on August 17, 2012 by in Bits & Bytes

Here’s a thought; move your stuff 800 miles, update the address on all your cars, credit cards, investment accounts, etc., then prep for a two week vacation! That’s been my summer in a nutshell, stepping away only a few times to prepare the best news in financial planning technology just for you.

Here are this week’s stories of interest:

LearnVest’s Mission to Wrangle Your Personal Finances from Mashable.com

[“Weight Watchers meets personal finance” is how LearnVest founder Alexa von Tobel describes her company. Having grown to over 65 people, von Tobel describes in the video below how her goal is to help everyone sleep better at night and enrich their lives through sound financial advice.]

TD Ameritrade showcases what API can do with slick Veo-iRebal harmonization from RIABiz

[TD Ameritrade Institutional continues to expand the capabilities of its Veo® Open Access platform (see TD Ameritrade Institutional’s Veo® Open Access to enhance trading, fee billing, and client on-boarding processes). This time the custodian couples its iRebal rebalancing software with Veo’s API to streamline trade order processing and reduce manual entry errors.] TD Ameritrade Institutional has linked two of the jewels in its software crown and the combination may be a multi-carat combination — at least for the relatively small cadre of RIAs who use iRebal.

SEC Audit: Getting data out of PortfolioCenter from Krisan’s BackOffice, Inc.

[Krisan’s BackOffice, Inc. is an outsource provider for Schwab Performance Technologies® PortfolioCenter®. In this post, limited scope examination criteria from the SEC is broken down into the various fields and reports that can be used to satisfy auditors. It’s a helpful overview of how extensive even a “limited scope” request can be, and an eye-opener for advisers who insist on managing portfolio accounting software on their own.] When the SEC auditors come knocking, they usually require lengthy, detailed information about your business. Fortunately, PortfolioCenter can help — assuming you keep your PortfolioCenter database complete and accurate, and you have the right Smart Sets.

FPPad Bits and Bytes for August 10

Posted on August 10, 2012 by in Bits & Bytes

A decent pace of technology news has returned, with this week’s Bits & Bytes featuring a variety of worthwhile stories.

First, read Avoid Legacy Portfolio Software Constraints at Morningstar Advisor to learn how you can switch portfolio management software without incurring huge transition times or astronomical fees.

Here are this week’s stories of interest:

The Rise of Robo-Advisors from Financial-Planning.com

[You are not clueless when it comes to the term “robo-advisors.” (watch the two-part video, Competing Against “Robo Advisors:” Delivering Advice in a New World from T3 2012) Personal Capital, Wealthfront, LearnVest, and others have been highlighted here before, and Jonathan Leaf provides a new update in this Financial Planning magazine update.] Imagine being replaced by a robot. That day may be more imminent than many planners believe. In the past two years, a number of online financial platforms for investors have been launched. These sites offer computerized investment guidance aimed not only at the smallest customers, but also at those with upward of $250,000 in investable assets.

iRebal Receives Makeover from Financial Advisor magazine

[The last time I saw significant news concerning TD Ameritrade’s iRebal software was back in August 2010 when RIABiz posted their overview of the product. This week, the growing custodian announced several enhancements to the stalwart application. I’m taking a look at the updates later this afternoon.] ThinkTech Inc., a TD Ameritrade affiliate, recently announced a number of major enhancements to iRebal, its highly-regarded intelligent rebalance and trade order management system.

Schwab Expands Practice Management Consulting Program for RIAs from Financial Advisor magazine

[Custodians continue to ramp up their value-add practice management resources as a competitive differentiator. In this update, Schwab Advisor Services announces new content for its nationwide traveling workshop.] Schwab Advisor Services today is expanding its “Insight to Action” practice management consulting program for its registered investment advisors customers that provides support on growing and managing their businesses.

Work aside; BACK UP your personal data including memories from InvestmentNews.com

[Here’s another reminder how important it is to have a good backup routine and policy, not just for your business information, but your personal data, too. Details of Wired magazine contributor Mat Honan’s loss of photos and other personal files as a result of a hack were syndicated across hundreds of websites this week. So take the prompt as a reminder to back up your files; something bad will eventually happen to your hard drive, so don’t be without a plan. Me? I have a Time Capsule for my Mac.] Please back up your personal computers, especially photos and things of sentimental value, whether you use a Windows-based or Mac system.

FPPad Bits and Bytes for August 3

Posted on August 3, 2012 by in Bits & Bytes

Now that August is here, the flow of financial planning technology news has slowed to a trickle. This week you’ll want to stay on top of security developments at Dropbox, but also check out a potential app to manage your multitude of projects.

Here are this week’s stories of interest:

If you missed Wednesday’s story, Dropbox user accounts compromised, new security features to appear, be sure to read it and review what you should do to protect your online accounts, whether or not you use Dropbox.

Salentica Inc. begins pilot phase of testing the Salentica Advisor Desk with Schwab OpenView Gateway from Salentica.com

[Salentica is the overlay provider for Microsoft Dynamics CRM. In this company press release, Salentica announces it is officially in a pilot phase of integrating account data obtained from the Schwab OpenView Gateway™ program.] In May, Salentica entered beta testing where our Client Advisory Panel which included Salentica clients as well as several RIA firms who are using a standard version of Microsoft Dynamics® CRM tested the newly developed functionality and provided us with feedback on the user interface and client experience.

Projectbook is the iPad productivity app for the disorganized from GigaOm

[If you’re searching for a new project management solution, Projectbook may be worth investigating. I often vascillate between managing everything in one CRM or working with multiple, specialized apps to manage tasks, reminders, and workflow. There’s no one right answer, so Projectbook may be a good resource for some of you.] Keeping your personal and professional documents in the cloud so you have access to them everywhere is on it’s way to becoming standard practice: it’s why Google and Apple now have their own cloud storage solution for users. But what if you’re on the fence about committing to the cloud but want an all-in-one mobile app to organize your stuff? Then a small midwestern app company called Theory.io has an iPad app for you.

FPPad Bits and Bytes for July 27

Posted on July 27, 2012 by in Bits & Bytes

Things are mostly unpacked (excluding books; why I continue to move these now that I’m 100% paperless is a mystery), the iMac is placed in front of a large window, and it’s actually cooler here in Atlanta than it is in Dallas.

It’s the middle of summer, as indicated by the slow trickle of useful financial planning technology news and information. Here are this week’s stories of interest:

InvestmentNews is running its adviser app, product and software survey this month. Similar to the annual Financial Planning Technology Survey, your responses will help benchmark where you and your peers fall in the technology spectrum in financial services.

Take the software survey at Investment News (login may be required).

FutureAdvisor, another advice site for the mass market from InvestmentNews

[In this short update, Davis Janowski provides a brief review of FutureAdvisor, the online mass-market advisory platform priced at just a few hundred dollars per year for their top plan. Recall that I interviewed FutureAdvisor co-founder Bo Lu at FinovateSpring 2012 (see FutureAdvisor co-founder Bo Lu at FinovateSpring 2012).] FutureAdvisor officially launched in March and its mission is to help the 99% get the most out of their investment portfolios. Its founders are chartered financial analysts and mathematicians, fairly atypical startup types and rather than Silicon Valley, the firm is based in Microsoft’s home turf up in Seattle.

How Financial Advisors Should Use a Customer Portal from Junxure

[So, yeah, Junxure sells a client portal called ClientView Live, so the highlights of this post focus on ClientView Live’s features. Two big features I want in a client portal solution not covered in this post: real-time synchronization of document folders with a client’s desktop/laptop of choice, and mobile device support.] Whether you’re shopping for a customer portal, or already have a customer portal for your firm, here are a few things to keep in mind.

FPPad Bits and Bytes for July 20

Posted on July 19, 2012 by in Bits & Bytes

I’m moving this week, so Bits and Bytes is on hold. Come back next Friday for a double feature of the best financial planning technology news.

Thank you for visiting!