Tag Archives: Fidelity

FPPad Bits and Bytes for February 25

Posted on February 25, 2011 by in Bits & Bytes

This has been a very productive week at FPPad headquarters as a result of  many new connections we established while attending the T3 Conference. T3 dominated our news feeds, and as such, dominates this week’s Bits and Bytes.

Here are some of the best reviews we’ve come across for T3:

Eavesdropping on the T3 conference by four bloggers with four missions as attendees at RIABiz.com

Conferences go by in a blur with so many vendors and attendees to meet and debrief. It takes a small army to cover them — even a smaller event like T3. Fortunately, RIABiz had many boots on the ground.

And a collection of blog entries from T3:

We have more notes from T3 that we’re assembling for a full column to be featured on Morningstar Advisor in March. Look for it on Thursday the 10th.

Lastly, here is this week’s blog post from Bill at Morningstar Advisor, Two Approaches to Technology Integration.

T3 2011 Conference Live Blog: Fidelity Integration Panel

Posted on February 18, 2011 by in General

One of today’s sessions was a panel discussion featuring advisers on Fidelity’s platform follwing the keynote session by Brent Burns of Asset Dedication. Here are our most important takeaways from Fidelity’s panel.

The panelists included Tom Goyne, founder of Shamrock Asset Management in Dallas, TX, Rick Adkins, CEO of the Arkansas Financial Group, and Michael Lee, COO of Lord Capital Management

To start off the discussion, Goyne came right out of the gate stating that if an advisers’s firm manages less than $75 million in AUM, they can’t afford to stay in business with all the impending regulations coming.

On their approach to integration:
Adkins has a saying, “We can’t make that much baklava.” Each December his firm would make client gift baskets that included baklava, but as the number of client grew, they just couldn’t make all the baklava. He used that same analogy with firms running without integrated technology.

Adkins also postured, “We don’t make money clicking keys,” stressing the importance that while technology makes certain things capable, advisers must remember that the success of their business is contingent on maintaining connections with clients and not being buried in technology.

On Custodian Integration:
Lee’s firm is 100% Fidelity, Adkin’s firm is approximately 90% on Fidelity, and Goyne’s firm is all on Fidelity with the exception of bank assets.

On Regulatory Reform:
Adkines: Regulators seem to be more comfortable with advisers using cloud systems, knowing that it improves business continuity and leverages security policies of the hosting providers.

Lee’s firm went through an SEC audit six months ago months ago and easily satisfied the SEC’s data requests with their paperless environment.
Goyne cautioned that if advisers are going to fund the SEC examination budget of ~$1 billion, extrapolated across about 8,000 advisers, each firm’s share will be about $121,000. He predicts it’s going to become very expensive to be an RIA in the future.

That’s it for the Fidelity panel session. Please be sure to check back with us for more updates.

Fidelity Releases WealthCentral Mobile for iPhone, iPod touch

Posted on February 14, 2011 by in Technology

The race between custodians to support mobile platforms is quickly reaching a blazing pace (see Fidelity, Schwab and TD Ameritrade prep for arms race in mobile technology for advisors at RIABiz.com). Just two weeks ago, TD AMERITRADE Institutional announced it is currently developing a mobile app scheduled to be released this April (according to this Financial Planning article).

And just this morning, Fidelity Investments and National Financial Services released their WealthCentral Mobile app in the Apple App Store. While the app is compatible with iPhone and iPod touch, it does not take advantage of the iPad’s larger display, and instead runs on the iPad as a scaled-up iPhone app.

Click here to view WealthCentral Mobile on the iTunes website.


From the provided screen shots, WealthCentral Mobile appears to be for adviser use only and does not provide access by clients of advisers who custody with Fidelity. Adviser options include a list of client account, client contact information, alerts within the WealthCentral platform, and delayed stock quotes for individual equity positions.

We don’t yet have a demo account for WealthCentral Mobile, so if you’re an adviser with an active WealthCentral account and have downloaded the app, we’d love to hear your feedback. Feel free to leave a comment below or e-mail Bill at bill [at] fppad [dot] com.

FPPad Bits and Bytes for February 4

Posted on February 4, 2011 by in Bits & Bytes

The mega-storm that blew across the Central and Eastern United States glazed the streets of Dallas with ice, so we’ve been juggling our schedule this week with primary care responsibilities for our two-year-old son.

We’ve postponed four days of work, but we still made the time to monitor the industry’s best tech-related stories for your education. Without further ado, here they are:

Silent Partner at Financial-Planning.com

(Bill’s note: If this testimony isn’t enough to make advisers want to run out and sign on to Tamarac Advisor X, I don’t know what is.) As breakaway RIAs, we also knew that our business would not survive on investment acumen and our new independent business model alone. We knew that our operations could make-or break-our dreams.

Third-party vendors vouch for TD Ameritrade’s API at first general session at RIABiz.com

Three third party vendors sat on a panel at the first general session of TD Ameritrade’s 2011 national conference at the Manchester Grand Hyatt in San Diego and explained why they’re buying into the custodians’ approach to creating a big ecosystem of technology in the RIA business. The company is making its data readily available to all legitimate comers.

The Lab at Financial-Planning.com

As custodians battle for the hearts and minds of advisors in the years ahead, Fidelity possesses a weapon that no other firm can currently match: The Fidelity Center for Applied Technology, known as FCAT.

Tamarac is a Microsoft Dynamics CRM Partner and a Microsoft Gold Certified Partner at TamaracInc.com

Tamarac Inc., a leading provider of integrated portfolio management software and services, today announced being awarded Microsoft Gold Certified Partner status with competencies in Microsoft Dynamics CRM and hosting for its Advisor CRM offering.

BlazePortfolio announces release of Atom Align 1.3™ at BlazePortfolio.com

BlazePortfolio today announced the public release of Atom Align 1.3™, the web-based portfolio rebalancing and trading solution for investment professionals

FPPad Bits and Bytes for January 14

Posted on January 14, 2011 by in Bits & Bytes

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

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

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

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

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

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

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

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

FPPad Bits and Bytes for December 24

Posted on December 24, 2010 by in Bits & Bytes

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

Here are this week’s stories of interest:

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

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

How Will Mobile Technology Impact Advisors? from AdvisorTV.com

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

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

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

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

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

NetX360 Mobile for iPad from Apple iTunes

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

FPPad Bits and Bytes for December 17

Posted on December 17, 2010 by in Bits & Bytes

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

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

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

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

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

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

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

Social media shapes new investment strategy at USATODAY.com

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

FPPad Bits and Bytes for October 29

Posted on October 29, 2010 by in Bits & Bytes

Happy Halloween! This week’s edition of Bits and Bytes is full of all treats and no tricks.

Here are this week’s feature stories:

At Schwab IMPACT 2010, Charles Schwab Advisor Services selected the first Intelligent Integration partners. Here’s coverage from the web:

Junxure, Salesforce, Microsoft Dynamics Are The First Schwab Intelligent Integration Partners from FPPad.com,
Schwab Looks To Integrate Registered Independent Advisers’ Tech Systems from WSJ.com, and
Schwab chooses some giant software partners, apparently with big RIAs in mind from RIABiz.com

Thanks to our sources on the ground (John Stone of Revenue Architects and Tim Welsh of Nexus Strategy) at Schwab IMPACT 2010, we now know the first Intelligent Integration partners announced by the company this morning.

Fidelity arms its RIAs for battle with white-glove brands from RIABiz.com

Fidelity WealthCentral for Family Offices integrates portfolio reporting and trading and allows a view of holdings including alternative assets. Services such as trust, partnership accounting, private foundation services and general ledger export services are included. Most important: it can provide an ultra-affluent client with a dedicated relationship management team and investment analyst/trader.

ByAllAccounts’ Survey Reveals the Top Reasons Financial Advisors Would Consider New Portfolio Management System from Marketwire.com

ByAllAccounts, Inc., the financial advisors’ choice for account aggregation, today announced survey results that show financial advisors are generally loyal to their portfolio management systems of record. Nearly 70 percent of survey respondents are somewhat or extremely unlikely to switch from their current system to a new one in 2011.

And finally, my blog post for October, Convert Business Card Info in a Snap, at MorningstarAdvisor.com

While attending a huge conference such as FPA Denver 2010 has many advantages, one minor drawback of connecting with so many new people is processing the large stack of business cards collected after returning home from the event.

FPPad Bits and Bytes for September 24

Posted on September 24, 2010 by in Bits & Bytes

FPPad goes on vacation today and won’t return until Monday, October 4. So enjoy this week’s Bits and Bytes; it’ll have to tide you over for two weeks!

Ameritas Investment Corp. Selects Smarsh for Email Archiving and Compliance Services from Businesswire.com

Smarsh®, the managed service leader in innovative, secure and reliable email archiving and compliance solutions, announced today that Ameritas Investment Corp. (AIC) has migrated to the Smarsh hosted email archiving and compliance platform

Fidelity® to Integrate Black Diamond Performance Reportingtm within Its Open Technology Platform for Independent Advisors from BusinessWeek.com

Fidelity Investments®, a leading provider of custody and clearing services to registered investment advisors (RIAs), today announced that it has expanded advisors’ access to third-party solutions within Fidelity WealthCentral® by establishing a strategic relationship with Black Diamond Performance Reporting(TM) to integrate its BlueSky portfolio management and reporting platform.

Moxy 7.0 trade order management now available from Advent from InvestmentNews.com

Advent Software Inc. yesterday announced availability of Moxy 7.0, the latest version of the trade order management system that’s so popular with registered investment advisory firms. All told, the software is used by 850 financial services firms around the world.

Black Diamond Inks Deal with Shareholders Service Group

Posted on May 10, 2010 by in Technology

Update: Brooke Southall and his team at RIABiz posted an article today discussing the partnership in more detail. Read it by clicking here.

Another custodian has formed a partnership to increase its technology offerings to affiliated advisers.

Shareholders Service Group (SSG) of San Diego, Calif. announced today that it is partnering with Black Diamond Performance Reporting of Jacksonville, Fla. to deliver its industry leading, web-based portfolio management and reporting system through the SSG platform.

Click here to view the press release for the Black Diamond and SSG partnership (Yahoo! News).

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