Tag Archives: Junxure Cloud

AdvisorEngine acquires Junxure: Flash briefing for Tuesday January 2, 2018

Posted on January 2, 2018 by in Technology

AdvisorEngine acquires Junxure. Full transcript below.

Welcome to the FPPad fintech briefing for Tuesday, January 2, Here’s the top fintech story you need to know today.

Well the 2018 fintech news cycle is already off to a quick start, as AdvisorEngine announced the acquisition of CRM Software, the makers of Junxure CRM. Terms of the deal were not disclosed, but in its press release, AdvisorEngine also said it received a commitment of $30 million in new financing from WisdomTree Investments, of which $22 million was funded today with a majority of those proceeds used to fund the acquisition of Junxure.

The new funding from WisdomTree builds on the company’s $20 million dollar investment for 33% of AdvisorEngine made back in December of 2016.

So here’s my quick take on the news: Junxure has a very loyal base of users, especially among those firms that continue to use the company’s flagship desktop software introduced back in 2001. However, the rollout of the Junxure Cloud solution has taken *much longer* than I expected, and advisors continue to tell me today that they can’t convert 100% of their desktop data to the Cloud version.

So this acquisition by AdvisorEngine gives me new hope that development, support, and expansion of the Junxure Cloud solution will receive new energy and direction. Junxure co-founder Greg Friedman will take on a new role as a strategic advisor with the company.

And from an industry perspective, 2018 is shaping up to be a year where CRM providers could be in play as companies continue to consolidate application in an attempt to offer an all-in-one technology solution for financial advisors. SS&C Advent acquired Salentica in late 2016, leaving Redtail and Wealthbox among the few independent CRMs that come to mind with large user bases, followed by providers like Grendel, ProTracker, and AdvisorsAssistant that could be acquisition targets as the year progresses.

If you have some insights on the Junxure acquisition, send me a message on Twitter I’m @billwinterberg, or email me at bill@fppad.com.

I’m Bill Winterberg, and those are your fintech headlines for today from FPPad.com, be sure to check back in with me later for more fintech news.

 

FPPad Bits and Bytes for July 1, 2016

Posted on July 1, 2016 by in Bits & Bytes

On today’s broadcast, Betterment takes heat for suspending customer trades, TD Ameritrade Institutional hosts its annual technology summit, and more.

So get ready, FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by Orion Advisor Services, the industry’s premier portfolio accounting service provider for advisors. Orion integrates with several automated investment platforms, but you’re not sure if now the right time to add a robo element to your firm.

Orion download bar for bnb

Find out if you’re ready, or not, to add your own solution by downloading a free copy of the Orion pre-robo checklist today by visiting fppad.com/robochecklist.

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

Robo Adviser Betterment Suspended Trading During ‘Brexit’ Market Turmoil via WSJ (subscription required),

After trading halt, Betterment suffers its own Brexit shock from Financial Planning,

Betterment explains why its Brexit-sparked trading halt on Friday wasn’t ‘suspended’ trading from RIABiz, and

Robo-advisor CEO: Here’s why I told clients they couldn’t trade in sell-off from CNBC

[This week’s top story is all about Betterment, because in the wake of last week’s Brexit vote, the company notified financial advisors on the Betterment Institutional platform that it had suspended trading from 10am to 12pm Eastern on June 24th, citing their expectation of “highly unpredictable volatility,” a decision which has triggered all sorts of discussions across the investment community.

First, a primer. Betterment uses ETFs for all customer portfolios, and when trading gets volatile, ETF pricing can get significantly disconnected from the value of the ETF’s underlying securities. Remember the flash crash of August 2015? ETF pricing was all over the map, especially for lightly traded and illiquid ETFs.

So, when Betterment’s team identified undesirable trading conditions, they suspend all trading. And as a discretionary advisor to retail customers, they can totally do that. It’s disclosed right there on page 65 of the retail agreement, which every customer acknowledges they read by checking the I agree box next to the Sign Up button. <wink wink>

But the exact same language is on page 70 of the Institutional Agreement, and I couldn’t find anything that said trading *authorized by the Advisor* would be treated any differently. In the RIABiz coverage of the event, Michael Kitces said that treating financial advisors the same as clients “creates operational channel conflicts.”

And there’s the rub. If you’re an advisor using Betterment Institutional for your clients, when you authorize trades, you need to know whether those trades will be subject to Betterment’s suspension criteria.

But that’s one risk of using ETFs in Betterment Institutional, or any automated investment service for that matter. Sometimes the pricing gets out of whack, and you won’t always know in advance when that happens.

So on a volatile day, you need to understand that, as of today, your trade authorizations might not be processed right away, and your trades will be in limbo for who knows how long until Betterment decides it’s ok to resume trading. I suspect that policy might soon be changing for Betterment Institutional users.] Betterment, LLC, a pioneer in the world of automated investing, made an unusual move and suspended all trading Friday morning as markets were roiled by the U.K.’s vote to leave the European Union.

TD Ameritrade Institutional Gathers Top Technology Innovators to Help Drive Significant Enhancements for Veo from BusinessWire

[My next story highlights TD Ameritrade Institutional, as I attended the custodian’s 7th annual technology summit in Dallas, and I made a vlog about it so you can get a glimpse of what the event is like, so be sure to check it out.

At the summit, executives offered updates on Veo Open Access, which now features 104 integrated solution providers, announced the introduction of Veo Advanced Alerts, and reiterated the pending release of the Veo One platform for late fall of this year.

There weren’t very many advisor dashboards available when Veo One was first announced in January of last year, but recently several tech providers have invested heavily in their own all-in-one dashboards, with notable names like Envestnet|Tamarac, supported by Envestnet’s acquisitions of Finance Logix and Yodlee, Salesforce, with its rollout of Financial Services Cloud happening now, and Fidelity’s Wealthscape platform anticipated by the end of this year, which will include technology from the eMoney acquisition.

So Veo One will go up against some stiff competition when it is rolled out later this year, so I recommend you make plans now to refresh what you know about the dashboard options for your business in the second half of this year.] A growing community of technology innovators, which has collaborated with TD Ameritrade Institutional1 to make Veo Open Access one of the industry’s leading platforms for independent registered investment advisors (“RIAs”), is again coming together to drive significant new enhancements to Veo and accelerate the pace of future Veo One integrations.

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

Riskalyze Announces General Availability of Asset Sync from Riskalyze

Starting today, advisors will be able to import an investor’s outside assets from over 18,000 connections from thousands of financial institutions.

Junxure Cloud Expands Integration with TD Ameritrade Institutional’s Veo® from PRNewswire

Junxure, the industry leading CRM solutions and technology company for financial advisors, this week announced new enhancements to its cloud-based CRM platform, Junxure Cloud®. As part of its ongoing work to integrate with leading platforms serving independent registered investment advisors (RIAs), Junxure Cloud has expanded its integration with Veo®, TD Ameritrade Institutional’s comprehensive trading and account management platform.

Dow Jones and Vestorly Create Content Marketing Product for Financial Professionals and Their Clients from MarketWired

Vestorly Inc., the leading content marketing and relationship analytics platform in the financial services industry, today announced a unique partnership with Dow Jones that will enable all Vestorly users to access Dow Jones content, including The Wall Street Journal, in order to engage clients and generate leads.

Dashlane launches a password management tool for the enterprise from TechCrunch

Today, the company behind one of the more popular solutions for helping consumers manage their online accounts, Dashlane, is making its move into the enterprise.

BNY Mellon’s Pershing Unveils New Technology Capabilities that Enable Firms to Define Their Own Digital Wealth Management Experience from Pershing

Pershing LLC, a BNY Mellon company, today launched a suite of technology enhancements that provide wealth management firms with greater flexibility to digitally transform their business.

 

Watch FPPad Bits and Bytes for July 1, 2016

Watch FPPad Bits and Bytes for July 1, 2016

 

Between Sessions with Junxure at T3 Enterprise 2015

Posted on December 29, 2015 by in Between Sessions, Conferences

I met with Robert DeFrancis, Director of Sales at Junxure, between sessions at T3 Enterprise 2015 to dive into the details of what was discussed during Junxure’s general session presentation at the conference, delivered by Greg Friedman.

During his presentation, Friedman updated the audience that Junxure has surpassed 12,000 users and maintains a 98% client satisfaction rating and a client retention rate of 95%. One out of three of the InvestmentNews best practices award winners use Junxure CRM in their business.

Friedman took the opportunity to highlight several new features in Junxure, including a new opportunity dashboard to track client trends and deliver business analytics to the advisor. Junxure also released a client service monitor called Client First, which tracks changes in client activities and can trigger actions or alerts in the CRM as well as in integrated third-party solutions.

To tackle training opportunities, Junxure recently added built-in “eXpert” training resources directly into the CRM, allowing users to review contextually relevant guidance and training resources without leaving the CRM.

FPPad Bits and Bytes for October 24

Posted on October 24, 2014 by in Bits & Bytes

On today’s broadcast, Microsoft discloses a zero-day vulnerability that affects nearly all Windows operating systems. See what you need to do right now to protect your systems from attack. inStream inks a partnership with BAM Advisor Services. Learn why this could be a big deal for the startup wealth management software provider. And, cyber attacks scare even the most security-conscious advisors. Find out about a new assessment service that can help defend your business from online attacks.

So get ready, FPPad Bits and Bytes begins now.

(Watch FPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by ITEGRIA, providers of complete outsourced technology support, security, infrastructure and IT solutions exclusively for RIAs.

itegria - providing a 360-degree, comprehensive approach to financial advisor IT needs

In their new book titled Red Flags, you’ll learn how to protect your firm from cyber-attacks, disasters, and IT compliance risks. Learn more about the Red Flags book by visiting fppad.com/itegria.

Before I get to the links to this week’s top stories, first answer this live poll:

Now on to this week’s top stories:

What you need to know about new zero day that hits most supported Windows versions from PCWorld.com, and

(Install) Microsoft security advisory: Vulnerability in Microsoft OLE could allow remote code execution: October 21, 2014 from Microsoft TechNet

[This week’s top story involves the hot topic of cybersecurity, as Microsoft disclosed a scary vulnerability in nearly every version of Windows on the market. So if you’re watching on a Windows machine, you need to pay attention. Mac users, you can go top off your Halloween candy.

Ok, so the vulnerability allows attackers to exploit Microsoft’s Object Linking and Embedding technology, better known as OLE, by sending you a Microsoft Office file with malicious code inside. If you open document, the attacker can gain access to your account’s rights and permissions and can remotely execute code on your computer. The potential for damage isn’t that great if your account has limited permissions, but if your account has administrative rights, then really bad things can happen. Pretty scary, huh? (scream)

So here’s what you need to do right now: first, remind everyone in your business once again never to open suspicious Microsoft Office documents, especially PowerPoint files, that are attached to dubious emails.

Then, to patch this vulnerability, head over to fppad.com/145 to find the link to Microsoft’s Security Advisory that contains the instructions on how to get the update. Now would also be a good time to make sure you’re current on all of your Windows updates.] Microsoft issued a security advisory this week with details of a zero day vulnerability that affects every supported version of the Windows operating system with the exception of Windows Server 2003.

Buckingham Asset Management & BAM Advisor Services announces selection of inStream wealth management technology platform from Yahoo Finance

[Ok Mac users, you can come back now, because next up is a story from Buckingham Asset Management and BAM Advisor Services, as the joint companies announced the selection of inStream as its wealth management platform for their 370 affiliated advisors.

You have to go way back my episodes in January for news on inStream, when the company announced that it would switch from a free plan to one that costs roughly $2,400 a year to use. But under the new strategic partnership, advisors who are part of the BAM Alliance will have full access to the inStream platform for no additional cost.

This is a big deal for inStream, as Buckingham Asset Management and BAM Advisor Services collectively manage or administer over $23 billion in assets, making them one of the largest RIAs in the country. So you might want to raise inStream a little bit higher on your radar, as I expect you will be hearing more from the company regarding new partnerships and financial planning functionality.] Buckingham Asset Management/BAM Advisor Services, one of the country’s largest independent wealth management enterprises, has chosen the inStream planning-centric wealth management software platform to serve the more than 370 advisors representing the more than 140 client firms in its network.

Investment Technology Partners Begins Offering Cybersecurity Assessments to Independent RIAs from PRWeb

[And finally, cybersecurity raises its ugly head once again to finish this week’s episode, but this time the news comes from Investment Technology Partners, a cloud IT provider to RIAs. Earlier this week, ITP announced it is now offering IT infrastructure assessments to RIAs to identify ways you can proactively build up your defenses against online attacks.

ITP’s assessment consists of a pre-visit questionnaire, an onsite inspection, and a post-visit follow-up, all in an effort to help you update your policies and procedures to address cybersecurity risks. Back in episode 129, I told you about the SEC’s new cybersecurity initiative and potential for increased enforcement around this area, so if you’ve been sitting on your hands since then, let this serve as another reminder that you now have a variety of providers you can engage to navigate you through this challenging landscape. In addition to ITP, popular cybersecurity audit providers include Itegria, Envision RIA, External IT, True North Networks, Right Size Solutions, and more.] Investment Technology Partners, an outsourced cloud IT provider focused in the Independent Registered Investment Advisory marketplace has begun conducting IT infrastructure assessments for RIA firms who have engaged them be sure their firms can positively respond to the an SEC audit looking into cybersecurity policies.

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

http://online.wsj.com/articles/td-ameritrade-offers-robo-technology-to-advisers-1414013725 from WSJ.com

TD Ameritrade Offers Robo Technology to Advisers from WSJ.com

TD Ameritrade AMTD +0.39% is making robo technology available to the 4,000 independent registered investment advisers who use its custody and trade clearing services. The technology is coming from a fledgling San Francisco firm, Upside Financial LLC, and is in the final stages of being added on to the Omaha, Neb.-based brokerage firm’s systems that are used by independent advisers to manage client money.

United Capital Picks Up $320M California RIA from WealthManagement.com

A strategic partnership between United Capital and the founders of financial planning tool FlexScore led  United Capital acquiring a Modesto-based firm with $320 million in assets.

Inbox from GMail: The inbox that works for you

Built on everything we learned from Gmail, Inbox is a fresh start that goes beyond email to help you get back to what matters. 

Junxure Enhances Its Cloud CRM from ThinkAdvisor

Junxure has released an enhancement to Junxure Cloud, the first major upgrade to the cloud-based CRM program used by RIA firms and broker-dealer reps since its launch this summer.

Encryption: What Advisors Need to Know from Financial Planning

Encrypt sensitive information, planners are routinely warned by security experts. Many states even require it. But there’s also confusion out there among advisors about the nuts and bolts of encryption.

Erado Announces Expanded Partnership with Investacorp from Digital Journal

Erado, an innovator in electronic communication compliance, announced today that it has expanded its partnership with Investacorp, Inc., to include Erado’s email archiving and all-encompassing social media compliance platform.

 

Watch FPPad Bits and Bytes for October 24, 2014

Watch FPPad Bits and Bytes for October 24, 2014

FPPad Bits and Bytes for September 5

Posted on September 5, 2014 by in Bits & Bytes

On today’s broadcast, custodians are battling for your business with their technology solutions. Which one is coming out on top? Hacked celebrity photos have been posted all over the Internet. How are you protecting your cloud data so you don’t embarrass yourself in front of clients? And Box is thinking outside of the cloud file storage, uh, box. Find out which new initiatives offer the best efficiency gains for financial advisors.

So get ready, FPPad Bits and Bytes begins now.

(Watch FPPad Bits and Bytes on YouTube)

This week’s episode of Bits and Bytes is brought to you by Total Rebalance Expert, the industry’s largest, privately owned portfolio rebalancing software provider.

Total Rebalance Expert

Now available as a part of the Orion Advisor Services platform, TRX features tax-efficient rebalancing, an easy to use interface, and more, all at an affordable price. Learn how you can gain a half a million dollar return on your technology investment by downloading their latest white paper at fppad.com/trx

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

Tech Update: What the Big Custodians Now Offer from Financial Planning

[This week’s top story comes from Joel Bruckenstein and his article in Financial Planning magazine. This month, Bruckenstein covered technology updates that the four major custodians have introduced, or are planning to introduce shortly, to financial advisors.
First on the list is Pershing Advisor Solutions, which most recently unveiled a new client portal called NetXInvestor, designed to be the single resource clients can access to view their portfolio holdings, access documents stored in the online vault, and in the near future, collaborate with their advisor through a secure messaging system.

Next is TD Ameritrade Institutional and its rollout of the Veo Open Access dashboard, which Bruckenstein said is poised to have the “most far-reaching impact” for advisors. The dashboard aims to unify your experience when using CRM, portfolio management, document management and other technologies. So instead of bouncing around from window to window, the dashboard leverages deep integrations with over 75 vendor integrations including Redtail CRM, Orion Advisor Services, and MoneyGuidePro to review, edit, and update data without leaving the Open Access dashboard.

Third up is Schwab Advisor Services, as Bruckenstein highlighted incremental updates to its esignature support, streamlined trade uploads from the Tamarac rebalancing soft are, and the integration of Morningstar Office to Schwab’ OpenView Gateway. Of particular interest is Schwab’s upcoming PM squared portfolio management platform, a completely new online solution that, according to Schwab’s Neesha Hathi, should be in limited beta testing as we speak.

And finally, updates on Fidelity Institutional Wealth Services rounded out the review, as the company’s WealthCentral platform will soon offer account-opening integration with Redtail and Skience for Salesforce, single sign on and trade order imports from Tamarac, portfolio imports into Naviplan and MoneyGuidePro, and other enhancements.] Over the last several years, the four major custodians have done a good job of enhancing their technology platforms. While there are some clear differences across the industry, it is fair to say that today’s platforms are far superior to what was being offered a few years ago.

You’re Reacting to Celebgate Wrong from Yahoo! Tech

Download my free Defend against hacking, phishing, and spoofing attacks handout

[Next up is news on cloud security, as I’m sure you might have heard that compromising photos of celebrities were leaked, apparently accessed from mobile device backups in the cloud. The Internet blew up, saying “Apple was hacked” and “iCloud has a security flaw.” Well, maybe not.

Yes, many of the private photos were obtained from the cloud, including Apple iCloud, but the method by which they were obtained is pretty old fashioned. Hackers used brute force attacks to successfully crack passwords and then correctly answered security questions that were far too basic, and the rest is history. So what can you do to prevent the sensitive data you manage from falling into the wrong hands?

Use long passwords, use a unique password for each website, and obfuscate answers to security questions. Instead of answering using Honda Civic as the make and model of your first car, use the word green, which might have been the color of your first car.

I have a lot more tips on keeping your data safe in a free handout you can downloaded, which is linked along with this week’s top stories.] Ever since somebody released nude photos of female movie stars this week, the wild overreactions have been clogging the Interwebs. Most of the hysteria runs along one of a few lines, and a lot of it is plain wrong.

Box’s Next Act: Box for Industries, Introducing Box Workflow, and BoxWorks 2014: New Ways to Collaborate in the Cloud from Box

[And finally, the online cloud file storage market is getting very crowded, so some of the top players are looking to set themselves apart from the competition. Case in point is Box, who this week announced several new initiatives, including Box for Industries, Box Workflow, and Box for Office 365.

Box for Industries expands on the Box OneCloud application marketplace and now highlights integrated solutions for verticals such as health care, education, and more, but notable absent is financial services. Box Workflow adds business process capabilities to firms by leveraging automation and document metadata. And Box for Office 356 better integrates Box with Microsoft’s online office suite which, if you’re not satisfied with OneDrive, opens up another cloud storage alternative.] Today… we’re announcing Box for Industries, a new initiative to accelerate business transformation in every business by combining tailored solutions leveraging Box’s metadata, workflow, compliance, and platform capabilities; industry-specific applications from curated third-party developers and partners; and world-class implementation services from Box and key system integrator partners.

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

Worth The Wait from Financial Advisor Magazine

It has taken much longer than anticipated, but Junxure CRM (www.junxure.com), a firm that integrates CRM technology, consulting and training for financial advisors, has finally announced the general release of “Junxure Cloud,” its comprehensive, cloud-based suite of CRM/office management products for financial advisors. After trying the application out for a few days, I’m happy to report that it was well worth waiting for.

Riskalyze announces Compliance Cloud to pinpoint risky portfolios from FPPad

Riskalyze Compliance Cloud aims to single out portfolios that drift outside a client’s risk tolerance

Online Adviser’s New Target: Investors With $1 Million or More from the Wall Street Journal

One of those online firms, sometimes dubbed “robo advisers,” is edging into the business of providing wealth-management services to people with $1 million or more.

FPPad Bits and Bytes for September 5, 2014

FPPad Bits and Bytes for September 5, 2014

FPPad Bits and Bytes for July 11

Posted on July 11, 2014 by in Bits & Bytes

On today’s broadcast, Junxure Cloud has officially arrived after several years of delays. Will the features in version one make it worth the wait? Wealth Access continues its growth as a personal financial dashboard for high net worth clients. Does it have what it takes to get advisors to stop using Mint.com? And consulting firm QuonWarrene announces a new technology audit service. Find out how their service can help move your firm’s technology in the right direction.

So get ready, FPPad Bits and Bytes begins now.

(Watch FPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by ITEGRIA, providers of complete outsourced technology support, security, infrastructure and IT solutions exclusively for RIAs.

itegria - providing a 360-degree, comprehensive approach to financial advisor IT needs

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

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

Junxure Announces Wide Release of Junxure Cloud CRM for Financial Advisors from PRNewswire

[This week’s top story covers two CRM providers in financial services. First up is Junxure, which issued a press release announcing the general release of its long-awaited Junxure Cloud product after what seems like an eternity in development.

The Junxure Desktop product has always been a top contender among CRMs for advisors, but as firms became more comfortable with software in the cloud, Junxure lacked a completely web-based version of its CRM. With Junxure Cloud, the company finally has an answer.] Junxure CRM, an industry-leading practice improvement firm for financial advisors that integrates CRM technology, consulting, and training, today announced the general release of Junxure Cloud™, its comprehensive, cloud-based CRM/office management solution for financial advisors.

ProTracker pulls cloud-based CRM back into beta from InvestmentNews

[But another CRM provider with a web-based solution has actually pulled its software out of general release and put it back into beta testing.

The CRM is ProTracker Cloud, which is built on top of open-source software called SugarCRM. Warren Mackensen, president of ProTracker Software, said he suspended product sales earlier this year, citing dissatisfaction with its look and feel and feedback from customers. Mackenson did not offer insight as to when ProTracker Cloud will once again be available for purchase, but as soon as I know, I’ll be sure to share the update with you.] Eight months after announcing the launch of a cloud-based customer relationship management product for advisers, ProTracker Software Inc. has stopped selling its ProTracker Cloud CRM while the company fixes some kinks in the product.

Wealth Access Experiencing Rapid Growth and Momentum in Wealth Management Industry from PRWeb

[Next is an update from Wealth Access, a high net worth personal financial management platform I originally covered for Morningstar Advisor back in September 2012. The company has come a long way in two years, as it now aggregates $7 billion in assets and has a grown from a team of two people to over 17 today.

Wealth Access works a lot like Mint.com and eMoney Advisor, but caters to high net worth clients that typically own real estate, hard assets, and collectibles that can’t be updated with simple account aggregation.

In addition, clients have granular control over who can see their account information. For example, CPAs might be able to view just the accounts that generate taxable income, while wealth managers have permission to see all of the client’s investable assets. So if you want to offer something like Mint.com to your clients, but with more sophisticated account management, then Wealth Access may be worth exploring for your business.] Wealth Access, an innovative high net worth personal financial management platform for advisors, announced today several milestones that represent fast growth and adoption of its industry leading technology. In only its third year, Wealth Access now reports on $7 billion, adding an additional $600 million per month, up from $250 million per month in 2013.

QuonWarrene Announces Spot-Audit Service from QuonWarrene.com

[And finally, many of you come away with great technology ideas from my Bits and Bytes broadcasts, but you’re still looking for some guidance on where you should focus your efforts. In addition to the consulting services I provide to advisors, there’s a new service available from Quon Warrene, an advisor consulting firm, called the Spot Audit™.

The QuonWarrene Spot Audit is an efficient way to address the technology challenges you face in your business. Start by completing a questionnaire about your existing technology, then participate on a collaborative conference call, and then receive an assessment report score card with recommendations on what you should tackle first. So if I don’t have immediate availability for technology consulting, QuonWarrene now gives you another option to identify where you can make improvements in technology.] QuonWarrene today announced an expansion to its services tailored for financial advisors and institutions, introducing the Spot-Audit.

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

Amazon Zocalo from Amazon.com

Amazon Zocalo is a fully managed, secure enterprise storage and sharing service with strong administrative controls and feedback capabilities that improve user productivity. 

Pershing Announces the Next Generation of its Block Trading and Rebalancing Tool for Advisor-Directed Programs from MarketWatch.com

Pershing LLC, a BNY Mellon company, today announced the next generation of its block trading and rebalancing tool—delivered through its technology platform NetX360®—which offers a series of new capabilities for advisors.

Be a robo-adviser, the human way from InvestmentNews

It’s not hard to see why robo-advisers are generating so much buzz: They purport to use powerful technology to deliver what they call tailored investment recommendations at a fraction of the cost of traditional investment managers. That’s a pretty compelling proposition, especially for newbie investors.

 

Watch FPPad Bits and Bytes for July 11, 2014

Watch FPPad Bits and Bytes for July 11, 2014

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 June 14

Posted on June 14, 2013 by in Bits & Bytes

Younger, tech-savvy advisers are more successful than their baby boomer counterparts, says one study

Younger, tech-savvy advisers are more successful than their baby boomer counterparts, says one study

So you want to be more successful, right? According to one story in this week’s Bits and Bytes roundup, you need to be more tech savvy.

Being young doesn’t hurt either, but there’s not much you can do about rolling back the clock.

So go order the latest MacBook Airright now and move on with this week’s stories of interest:

High-tech solutions to manage less money from SFChronicle.com

[Pulled right from the article, one prospect said “I started as a dashboard client, then they sold me into their wealth management product.” And THAT is the power behind Personal Capital’s free tools. Give them technology that is so useful, up front, for free, and roughly 1 out of 285 will convert to a paying client at 95bps (700 clients, says TechCrunch, and 200,000 total dashboard users).] A growing group of startups is using technology to lower the cost and provide personalized solutions to a less-wealthy demographic. Many are based in the Bay Area, drawing on the region’s engineering and financial talent. Here’s a look at four of them.

Survey: Younger Financial Advisers Tech-Savvy, Successful from NBCBayArea.com

[First, watch the video embedded below. It’s Flash, so tap the link above if you’re viewing this on your iPad/iPhone or inside an email.]

[This story is based on the Fidelity survey that showed younger advisers are managing more AUM then their baby boomer counterparts (see that story at Financial-Planning.com). The good news is one adviser profiled in this story, Martin Weil, is making a commitment to embrace technology in his business. The results? Weil’s business is on a very positive growth curve. Plus, add in some gentle promotion from NerdWallet for good measure.] Is older and wiser always better? When it comes to managing your money, the answer is: Maybe not.

Junxure Cloud is really coming; availability and pricing firmed up from InvestmentNews.com

[Davis Janowski gets an early look at Junxure Cloud, expected to be released to the public this October. Advisers have been very patient waiting for the cloud version of Junxure, and according to Janowski, most will be rewarded for the wait. Since Junxure Cloud doesn’t provide all of the functionality of its desktop counterpart, there may be some barriers to migration for firms that find Junxure Cloud to be missing those two or three specific features they can’t live without. But for advisers seeking a new CRM, Junxure Cloud certainly is an attractive option among the remaining web-based CRMs. Still, pricing is pretty high at $75/user/month, especially compared to Redtail and Grendel, which both charge roughly $65/month for up to 15 users (or $4.33/user/month if all 15 user seats are filled).] Good things take time. That goes for the crafting of software and applications, too. Junxure Cloud is no exception.

FPPad Bits and Bytes June 7

Posted on June 7, 2013 by in Bits & Bytes

No more planes, trains, and automobiles! No I'm back to give you the best in tech from the past three weeks.

No more planes, trains, and automobiles! Now I’m back to give you the best in tech from the past three weeks.

First, don’t forget to register for Tuesday’s free webinar on adviser technology. Head on over to InvestmentNews.com now.

Now this is an extended Bits and Bytes, covering the past three weeks of news and making up for my business/vacation trip out to the West Coast.

For your convenience and efficiency, I split this week’s updates among their respective categories, so you can use the links below to jump to areas of interest.

Here are the best stories of interest from the last three weeks:

Compliance

Smarsh Survey Reveals New Phase in Evolution of Communications Oversight from Smarsh.com

[Smarsh, the provider of email and social media archiving solutions, recently released its annual Electronic Communications Compliance Survey that has all sorts of nuggets around compliance. If you offer your contact information, you can download the report for free. Inside you’ll find insights like the gap between social media use and actually archiving messages and details on mobile device security (or lack thereof).]  Smarsh, the leading provider of hosted archiving and compliance solutions for email and electronic communications, today released its third annual Electronic Communications Compliance Survey Report at FINRA’s 2013 Annual Conference. While challenges surrounding the oversight and retention of electronic communications remain widespread, this year’s study reveals that compliance professionals in financial services are more comfortable with the “new normal” of greater regulatory scrutiny, evolving communications tools and more complexity in the demands around email surveillance.

CRM

Live Junxure Cloud Demos Now Available from Junxure.com

[Curious what Junxure Cloud looks like? Demos are now available through Junxure, with five live demo sessions offered through June. Click over to their announcement and the link to join the demo sessions is at the bottom of the announcement.] Just announced! This June, Junxure will begin offering a series of live demonstrations of Junxure Cloud™, its highly anticipated cloud-based CRM solution for financial advisors.

Redtail and goalgamiPro make a data connection from InvestmentNews.com

[You should know both Redtail and goalgamiPro well from past FPPad coverage (see Yes, you can create financial plans in eight minutes). Now the two companies have integrated their products, saving you time when logging in and passing data from Redtail to goalgamiPro.] The latest example, and one that might end up being a good fit for a large number of advisers, at least those that do financial planning, is the integration of goalgamiPro with the popular customer relationship management application from Redtail Technologies.

Social Media

BloombergBlack Review: This Is Not The Disruptor You’re Looking For from I heart Wall Street

[Here is a VERY comprehensive look at BloombergBlack, the latest attempt at a “robo-adviser” online advice platform. Bottom line: behind the mystery and mystique of a premium brand, BloombergBlack lacks the real power and potential of big data and proactive alerts of online platforms. Read the full review for all of the insight.] When I first shared the news with Josh Brown about BloombergBlack (behind the scenes) it created a much bigger stir than I ever anticipated, especially inside of the wealth management industry.

Twitter Offers Bigger Opportunities with Lists Update from Arkovi.com

[If you are starting to get overwhelmed by the number of people you follow on Twitter, lists are an ideal way to organize people on a variety of filters. Lists allow you to sort the people you follow by whatever label or criteria you wish, saving you from the firehose of tweets found on your main timeline.] For active Twitter users, building lists is an easy way to organize friends, colleagues, brands and influencers online.

Practice Management

Pershing Launches Online Practice Management Center for Advisors from Pershing.com

[This is the next wave in value-add resources that custodians are beginning to deliver to their advisers. I would expect similar offerings from the other major custodians if they don’t already do this today (I just can’t keep all of their value-add resources straight in my head!). But what is really offered at Pershing’s site? This is essentially an aggregated website of about 100 of Pershing’s research and white papers published to date. So if you are looking for tips on using your tablet or getting proactive follow up reminders from your CRM, you will need to look elsewhere (aka FPPad!).] Pershing LLC, a BNY Mellon company, today unveiled its new Practice Management Center, a comprehensive resource that offers Pershing’s clients practice management-related content in one user-friendly, central location. In response to client demand, advisors will now have quick access to all of Pershing’s family of practice management materials, including more than 100 pieces of thought leadership, whitepapers, guidebooks and interactive tools on-demand.

3 Great Apps That Will Change Your Life from Financial-Planning.com

[Shortcut: the apps are Penultimate, Evernote, and Nozbe. What are my three “life-changing” apps? 1. PlainText: I don’t write notes with a stylus. Handwritten notes aren’t searchable. So instead I type, and this freemium app syncs all my entries with my Dropbox account. 2. Dropbox: While it’s not the gold standard in cloud file storage (see: Dropbox for Financial Advisers: Is it Safe? Secure?), it’s one of the best integrated services out there, including support for my PlainText notes. 3. Workflowy: Like PlainText, this is a super simple app I use to organize lists and todos. Expand and contract lists at will to see the entire universe or just one specific topic. It, too, syncs with Dropbox for backup.] To increase this understanding and to communicate your insights effectively, you need get yourself, your information and your insights organized. Here are three great app’s to help you get your tech stuff together like never before.

General Technology

Leaving Behind the Digital Keys to Financial Lives from NYTimes.com

[This article scratches the surface of what is becoming a much more significant issue as so much of our financial lives move to online services. I even struggle with this issue personally, as I maintain all of the online accounts for our household, and my wife isn’t all too familiar with the “system” I use. As a planner, you clearly have an opportunity to help clients not only organize their online finances, but also ensure that access to online information is available for all those who need it.] Bob Gingberg, a retired production manager for an educational publisher, is worried that he does not know any of the logins and passwords for online accounts belonging to his partner or brother and they do not know his.

Bill Winterberg: The 2013 IA 25 Extended Profile from AdvisorOne.com

[Once again, it was quite a surprise to receive a phone call from Joyce Hanson of Investment Advisor magazine calling to inform me that I had been selected into the IA 25 list of influential people in the financial services industry. I am honored and humbled, and will continue to deliver as much premium information about technology in this industry to you, my loyal readers and subscribers!] Bill Winterberg, a certified financial planner with a bullish view on the future of technology in the advisor space, describes himself as squarely positioned in the Gen X/Gen Y demographic.

Personal Capital Closes $25 Million In Series C Funding For Online Wealth Management Platform from TechCrunch

[After raising another $25 million, Personal Capital has attracted $52.3 million in funding to support a team of 70 employees managing a collective asset base just shy of $200 million across 700 clients. That’s roughly $285,000 for the average client. So with $52 million raised, I get a raw cost of client acquisition of $74,174, not including any spending derived from Personal Capital’s revenue earned to date. BUT, as Harris mentions, it may still be very early to evaluate the company’s growth soak critically, as this trend toward online advice platforms may have another 10 or 15 years ahead of it. Still, that is a long time to wait for any return on investment for many of the early investors.] When many people hear “wealth management,” they think of elite advisors meeting old money clients at the country club, or decades-old firms with big names such as Fidelity or Schwab. But in the years ahead, one Silicon Valley startup is aiming to shake up that establishment — and just has raised a nice chunk of new funding to help.

Ex-PayPal CEO to hire 100 in Denver for latest venture from BizJournals.com

[So what’s Personal Capital going to do with its new $25 million? Open up an office in Denver, CO and hire 100 financial advisers.] Bill Harris, the former CEO of PayPal and Intuit, tells the Silicon Valley Business Journal he intends to establish a Denver office for his latest company and hire 100 financial advisers.

Pershing Previews Its Next-Generation Mobile Application at INSITE™ 2013 from Pershing.com

[Pershing gets another update this week due to their conference-related announcements. The company previewed changes coming to its NetX360 mobile apps designed to run on iOS, Windows, and Android platforms. Nope, no Blackberry app for the 30 of you who have visited FPPad since the beginning of 2013!] Pershing LLC, a BNY Mellon company, is previewing its next generation mobile solution for investment professionals today at the INSITE™ 2013 conference in Hollywood, Florida. The new version features a fully redesigned, sleek user interface and a variety of features aimed at making advisors more efficient and productive in their everyday activities.

Pershing unveils next NetX360 from InvestmentNews.com

[Alright, I’ll stop at three updates related to Pershing, but despite its dry title, InvestmentNews tech reporter Davis Janowski does a good job describing some of the adviser-of-the-future technology on display at INSITE 2013. He highlights voice recognition inside NetX360 that can respond to a variety of report commands. Now controlling NetX360 by voice while driving is a bit of a stretch for me, but it at least gets the point home. But here’s my hangup; I have trouble using Siri to send texts to family while driving, what makes me think I’ll be successful at performing data queries in NetX360? So, there’s obviously wow factor here, but true utility? I’m on the fence. So can custodians start with truly paperless account application and approval processes first, for example, which will translate to actual efficiency gains in your office? Thanks.] Ram Nagappan, Pershing LLC’s chief information officer, is something of a visionary. Not only does he love technology for technology’s sake — he gets positively giddy showing off new things — he loves applying it to improve business processes.

How Do I Know If My VPN Is Trustworthy? from Lifehacker.com

[I talk about VPN services to help keep passwords and login credentials safe from prying hackers (see How to secure mobile devices against “WiFi honeypots”). But when your credentials pass through a VPN, how safe are they? This Lifehacker update gives some good rules of thumb when evaluating the security of your VPN provider.] You do have to trust that your VPN service provider has your best interests at heart, because you’re relying on them to secure your connection, keep everything encrypted, and to protect your activity from prying eyes.

FPPad Bits and Bytes for December 7

Posted on December 7, 2012 by in Bits & Bytes

Remember to watch today’s FPPad On Air broadcast at 4:15 pm ET with Blane Warrene.

Here are this week’s stories of interest:

Meet the wealth management firm of the future from Reuters.com

[Technology Tools for Today’s High-Margin Practice is being released in early 2013 as the 10th anniversary of their original book, Virtual Office Tools for a High Margin Practice, nears. It was a privilege to be asked to contribute to the new edition, as I submitted a chapter on collaboration tools financial advisers can use in their business. Pre-order the book on Amazon to lock in the pre-order price.] When David Drucker and Joel Bruckenstein wrote a book about technology innovations for advisers in 2002, many readers were skeptical of their recommendations to use email and create a website.

Junxure Cloud – The Clear Choice for Advisors from Junxure.com

[I will be honest: I think Junxure faces an uphill climb when it releases Junxure Cloud next year. The desktop version has so much in its interface, between notes, tasks, assets, documents, action sequences, etc. that I can’t help but be skeptical how it will translate to a web-based user interface. Junxure provided a sneak preview earlier this year (see: A sneak peek of Junxure Cloud), so take a look and decide for yourself. But give credit to Greg Friedman, the points in this article are valid; there are no overlays like there are in Salesforce, and support is handled internally and not farmed out to a third party. Will those benefits be enough to overcome the daunting interface?] Junxure attended Charles Schwab’s IMPACT® 2012 event, where we announced the spring 2013 release target for Junxure Cloud, our new web-based CRM solution. Attendees were treated to a preview demo, including how Junxure Cloud could help manage workflow, track a firm’s efficiency, and capture client documents and financial data through a wide range of integrations.

Why You Should Consider Online Meetings With Clients from RIACentral.com

[Again and again I counsel advisers that they need to be comfortable using online meeting tools like Skype, FaceTime from Apple, and Google+ Hangouts. Giving your clients options to meet with you remotely, when it is convenient for them, goes a long way in solidifying your working relationship. Here’s a good summary article from RIACentral about four key benefits of meeting online.] Meeting clients online may seem like technological overkill. After all, it’s much easier to just pick up the phone and chat, right? But, in reality, online meetings solve a myriad of practical everyday problems for you.