Tag Archives: Pershing

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

 

FPPad Bits and Bytes for May 6, 2016

Posted on May 6, 2016 by in Bits & Bytes

On today’s broadcast, Wealthbox CRM releases 5 new integrations, Orion sends portfolio information to clients via text message, Morningstar ByAllAccounts introduces a new client portal, and more.

So get ready, FPPad Bits and Bytes begins now!

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

5 New Integrations: Zapier, TD Ameritrade, Riskalyze, Orion, Microsoft Office 365 from Wealthbox.com

[This week’s top story comes from Wealthbox CRM, as the company took advantage of a Cinco de Mayo theme to announce five new integrations on 5/5. The new integrations include TD Ameritrade Institutional’s Veo Open Access, Riskalyze, Orion Advisor Services, Microsoft Office 365, and Zapier. If Zapier sounds familiar, that’s because you heard about it in last week’s episode, unless you missed it, which means you should take a few minutes to watch it and get caught up.

This is great news from Wealthbox CRM, as many advisors I know were discouraged from using it in the past because it lacked integrations with many core technology solutions. With that objection out of the way, you should update your due diligence matrix to see which CRM is the best fit for your business objectives over the next few years.] Today we’re happy to announce five new Wealthbox CRM integrations with leading technology partners.

Orion Advisor Services Launches Text Alert Platform for Advisors from MarketWired

[Next up is news from Orion Advisor Services, as this week the portfolio accounting service provider announced a new app called Notifications. Once clients register their mobile number using the Orion client portal, Notifications uses text messages to provide updates like your clients’ portfolio balance, performance information, or even RMDs. Oh, and for you compliance officers watching, all of the messaging are automated, meaning there is no personal communication between the client and the advisor.

Ever since I saw the Penny App at last year’s FinCon event, I’ve been waiting for an advisor fintech provider to roll out text messaging for updates to clients, and correct me if I’m wrong, but I’m pretty sure Orion is the first provider to do it.

Now one drawback I see is that clients need to learn special keywords like BAL, PERF, ADV to get information, so my challenge Brad and his team, you remember Brad, the potato chip guy from one of my vlogs, is to add in support for natural language processing so I can just ask the app, “What is my portfolio balance?”
Sorry Brad!] Orion Advisor Services, LLC (“Orion”), a premier portfolio accounting service provider for financial advisors, is announcing the launch of the Notifications app, which allows advisors to communicate with clients more directly by sending portfolio updates and scheduling meetings all via a text alert platform.

Morningstar Launches ByAllAccounts Personal Financial Management Portal for Advisors, Aggregates Investor Accounts with Daily Updates for a More Holistic View of Total Wealth from Morningstar

[And finally, news from Morningstar wraps up this week’s broadcast as the company’s aggregation service, ByAllAccounts, released a personal financial management portal for advisors and clients.

The new portal is available as a complete solution with customized branding for your firm, or if you already use a portal or online dashboard from other providers, you can choose from a number of the ByAllAccounts portal elements to use as stand-alone tools. For this reason, pricing is going to depend based on your needs for a solution, but whatever you pay, account aggregation from ByAllAccounts is included for an unlimited number of clients and accounts.

But there are some caveats you should know: First, the aggregation data is not intended for data reconciliation, so it’s not suitable for detailed portfolio performance information. Reconciliation-ready data is part of the the traditional ByAllAccounts aggregation service.

Second, a minimum number of licenses are required to use the portal, so today, this solution targeted for the mid- to large RIAs and broker-dealers, yet I’m optimistic that over time ByAllAccounts can offer pricing and functionality that is attractive to advisors of all sizes.] Morningstar, Inc., a leading provider of independent investment research, today launched a new personal financial management portal in the firm’s account aggregation service, Morningstar® ByAllAccounts.

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

Periscope mimics FB Live by letting you permanently #Save replays from TechCrunch

You can now permanently save replays of your broadcasts by including #Save in their title.

Pershing platform expands robo offerings with Vanare, Jemstep and SigFig partnerships from Financial Planning

Demonstrating the intensifying race to dominate adviser technology, Pershing broadened the scope of its B2B digital advice offerings, announcing on Wednesday it was bringing startups SigFig, Vanare and Invesco’s Jemstep Advisor Pro onto its platform that also includes the still-developing robo Marstone.

Cloak is now part of StackPath from GetCloak.com

Peter, Nick, and I are excited to announce that Cloak is now part of StackPath, a still-stealthy startup based in Dallas, Texas that has bold plans for online security.

Laserfiche 10.1 at the Forefront of ECM and Business Process Automation from Laserfiche

Laserfiche today announced the availability of Laserfiche 10.1. The latest enterprise content management (ECM) offering builds on the features and resources of Laserfiche 10, released in January 2016, further enhancing teamwork and collaboration, refining case management capabilities and extending business analytics.

Watch FPPad Bits and Bytes for May 6, 2016

Watch FPPad Bits and Bytes for May 6, 2016

FPPad Bits and Bytes for June 12

Posted on June 12, 2015 by in Bits & Bytes

On today’s broadcast, Pershing partners with a new company for your digital advice delivery needs, Wealth Access continues its growth in the PFM space, and find out how open source code called Wealthbot could pose a serious challenge to automated investment services.

So get ready, FPPad Bits and Bytes begins now.

(WatchFPPad Bits and Bytes on YouTube)

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

Pershing Implements Multi-faceted Digital Enablement Strategy to Help Advisors Embrace the Digital Revolution from Pershing, and

Pershing Introduces Managed360™ to Help Advisors Efficiently Grow Their Managed Accounts Business from Pershing

Marstone Digital Wealth on the web

[Let’s jump right in to this week’s top story with a recap of the Pershing INSITE conference held in Orlando last week, as one of the top institutional custodians for advisors made several technology-related announcements. First up is news of a partnership to allow advisors to offer their own white-labeled online investment service which will be powered by a company called Marstone.

Now if the name Marstone doesn’t ring a bell, don’t worry, because it’s only the second time I’ve even heard of them after a chance encounter I had with company executives at the IBM World of Watson event last month. In fact, the company is so new that their latest Form ADV disclosure shows assets of just $15,500 held in two clients accounts. That’s right, two accounts.

Now the few screenshots available from the Marstone website show a reasonably attractive interface, but with a retail investor offering that’s still in beta and an advisor solution that has yet to roll out, it’s just too early for me to say whether or not Marstone is going to gain wide adoption among advisors, especially when there are more seasoned competitors out there like Jemstep, Betterment Institutional, Oranj and more.

But, Marstone will be the first of several anticipated solutions that will integrate with Pershing’s NetX360 platform for advisors as well as the NetXInvestor solution for end clients.

Pershing also announced a new managed account solution called Managed360 that will leverage investment strategies and managed portfolio offerings from Lockwood Advisors, which also happens to be an affiliate of Pershing. Also coming in the future is a Pershing API store which is a catalog of APIs along the lines of the TD Ameritrade Institutional Veo Open Access platform, allowing third-party providers to more easily integrate with the Pershing ecosystem.] At its INSITE™ 2015 conference, Pershing LLC, a BNY Mellon company, today announced a multi-faceted digital enablement strategy designed to revolutionize how advisors and investors work together in 2015 and beyond.

Wealth Access Hires 7 Veterans to Continue Growth from PRWeb

[Next up is news from Wealth Access, the Nashville-based provider of a personal financial dashboard for high net worth clients, as this week the company announced the growth of its business with seven new hires in the last few months, as well as a 350% year-over-year increase in total assets aggregated in the platform, a figure that now exceeds $20 billion.

You know that merger and acquisition activity in the personal financial management space this year has been on a tear, with Fidelity acquiring eMoney, Northwestern Mutual scooping up LearnVest, and John Hancock picking up Guide Financial, so Wealth Access is pretty much one of the last independent PFM platforms out there serving advisors that has no direct custodial or insurance company connection.
So like I’ve said in previous broadcasts, you would be wise to keep an eye on this company.] Wealth Access, an innovative high net worth personal financial management platform for advisors, announced growing momentum in the adoption of the Wealth Access technology solution by advisors, with record year over year growth and the hiring of seven senior technology and financial services veterans.

Wealthbot.io from GitHub

[And finally, wrapping up the week is an interesting discovery I made on the Internet called Wealthbot. Now stick with me on this one. Wealthbot is open source code published on the GitHub repository that can be used to create your own wealth management platform.

Not satisfied with the commercial wealth management solutions available today? That’s right, you can now build your own robo advisor, I mean, automated investment service. Now developers should get excited about the possibilities here, but advisors using Wealthbot directly? Well, that’s probably not going to happen without significant help from programmers.

But here’s the thing: online services like Wealthfront, Betterment, Future Advisor, even Schwab Intelligent Portfolios have attracted huge amounts of attention and venture capital for their software-based investment algorithms. So what happens to the value of those companies when code that mirrors their functionality is published on the Internet, for free?

Could Wealthbot be the next WordPress, OpenOffice, or Firefox of robo advisors? That, ladies and gentlemen, is why you’re watching FPPad Bits and Bytes.] Wealthbot.io makes it easy to launch a Wealth Management Platform. Build and customize your very own version of a robo-advisor.

 

Watch FPPad Bits and Bytes for June 12, 2015

Watch FPPad Bits and Bytes for June 12, 2015

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

Schwab OpenView Mobile launches, allows RIAs to create branded mobile apps for iOS and Android

Posted on February 24, 2014 by in Technology

Balasa Dinverno Foltz LLC is one of the first RIAs to publish a branded mobile app using Schwab Advisor Services' Schwab OpenView Mobile platform

Balasa Dinverno Foltz LLC is one of the first RIAs to publish a branded mobile app using Schwab Advisor Services’ Schwab OpenView Mobile platform. Image credit: Apple iTunes

 

Schwab OpenView Mobile officially launches, allowing RIAs to publish branded mobile apps to the iTunes App Store and Google Play

Note: An earlier version of this story indicated Schwab Advisor Services was the first investment custodian to provide custom mobile apps to its advisor clients. Trust Company of America has been publishing custom adviser-branded mobile apps for end client use since September 2012.

Initially announced at Schwab IMPACT 2013 (see: Schwab IMPACT 2013 Report: All the technology trends advisers can’t miss), Schwab Advisor Services has officially launched its Schwab OpenView Mobile platform.

Schwab OpenView Mobile allows RIAs who custody with Schwab Advisor Services to customize and publish mobile apps compatible with iOS and Android devices.

While not the first custom branded mobile app solution for advisers, OpenView Mobile becomes one of the few investment custodians that allows advisers to brand apps specifically for their advisory firm, with Trust Company of America being another. While Fidelity Institutional Wealth Services, Pershing, LLC, and TD Ameritrade Institutional all have mobile apps advisors can use to view client account information, none yet allow advisers to brand the app for use by end clients.

“Must-Have” Technology

“Mobile technology is a must-have for adviser firms looking to grow and build relationships – both with today’s clients and with the next generation – because it allows the adviser to deliver the ‘know me’, anywhere, anytime service clients expect,” said Neesha Hathi, senior vice president, Advisor Technology Solutions, Schwab Advisor Services, in a press release.

A quick search of the iTunes App Store shows that Balasa Dinverno Foltz LLC is one of the first RIAs to publish the app using Schwab OpenView Mobile.

“The creation of a branded app for our firm provides us with a tremendous opportunity to connect with clients through their mobile devices,” said Mark Balasa, Co-CEO and CIO at wealth management firm Balasa, Dinverno and Foltz, LLC in today’s press release.

Not the First

While they definitely help increase an RIAs profile in a crowded market, branded mobile apps are nothing new.

FPPad readers should be familiar with branded mobile apps available from several providers including Orion Advisor Services, Retire Logix from Oltis Software, LLC, and Boulevard R.

In fact, Orion Advisor Services’ app is in its second full iteration, as it has been more than three years since the company first introduced support for branded mobile apps for its RIA clients (watch FPPad Bits and Bytes coverage of version 2.0 of the Orion Advisor Services app below)

Nevertheless, the stakes for capturing clients’ attention continue to rise, as increased competition means more RIAs and financial services providers are fighting for attention and visibility on the next frontier: clients’ mobile devices.

How well will Schwab’s OpenView Mobile program push RIAs into the mobile device frontier for client collaboration? We will have a better idea after the first several months based on adoption by RIAs and stats on total downloads by end clients.

$5,000 Up Front, $2,000 Annually

How much will it cost RIAs to publish branded apps using Schwab OpenView Mobile?

Pricing details were not announced at IMPACT 2013, nor were they disclosed along with the press release about the platform’s launch.

But in a tweet today, Joel Bruckenstein offered pricing details on OpenView Mobile:

That’s certainly an expense that will be judged very carefully by many RIAs, given that a wide range of app development options exist for a fraction of the price.

For comparison, note that Orion Advisor Services offers a branded mobile app for its adviser clients at no additional cost.

App Alternatives

A quick Google search revealed one template-based tool called iBuildApp, and for $799/year, one gets all the bells and whistles of publishing an app complete with screens for contact information, blog feeds, video lists, and event listings.

Granted, one BIG difference between OpenView Mobile and all the other third-party app platforms is the ability of OpenView Mobile to show daily client account balances from their Schwab accounts in the app.

So you decide: if you need to give your clients the ability to check their Schwab account values from within your branded mobile app, then OpenView Mobile is your solution.

Use this link to read the full press release at BusinessWire.com.

T3 2014: Pershing’s new NetXInvestor™ revamps the investor-facing portal experience

Posted on February 11, 2014 by in Conferences

A frist look at Pershing LLC's NetXInvestor™ dashboard

A frist look at Pershing LLC’s NetXInvestor™ dashboard

Quick to respond to the demands for better client portals, Pershing LLC today announced a new generation of its investor-facing portal under the new name of NetXInvestor™.

Formerly NetExchange Client®, Pershing’s client-facing portal has been redesigned to be much more intuitive to use, highly customizable, and compatible with nearly all mobile devices.

“The redesign of NetXInvestor delivers on one of our top priorities at Pershing – enhancing the investor experience,” said Ram Nagappan, chief information officer of Pershing, in a press release earlier today.

Patrick Yip, Director of Advisory Market Technology Strategy at Pershing, a BNY Mellon company

Patrick Yip, Director of Advisory Market Technology Strategy at Pershing, a BNY Mellon company

While at T3 2014, I will try and swing by Pershing’s booth and grab a few screenshots to share so you can get a sense of what makes NetXInvestor a worthwhile contender for the next generation of client-facing portal solutions.

For all the details, read today’s press release about NetXInvestor™ from Pershing LLC.

FPPad Bits and Bytes for December 6

Posted on December 6, 2013 by in Bits & Bytes

On this week’s broadcast, learn the hits and misses from the year’s most anticipated advisor technology survey, the pending termination of several financial planning software products catches advisors off guard, how the leading independent custodians are stepping up their technology, and more.

So get ready, FPPad Bits and Bytes begins now!

(watch FPPad Bits and Bytes on YouTube)

This week’s episode is brought to you by Angie Herbers Incorporated, a consulting and research company to financial advisory firms, who just released a new white paper called Take Two: The New Direction of Succession that addresses the key elements to create a successful transition to your junior advisors.

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Download the Take Two white paper for free, along with other practice management resources, by visiting fppad.com/ahi

Here are this week’s top stories:

Tech Survey 2013: What’s New iIn Advisor Tech? from Financial-Planning.com

[Leading off as the top story is one of the most anticipated technology articles that comes out every year. The first of December marks the release of the annual Financial Planning Magazine Technology Survey, where Joel Bruckenstein digests over 1,100 responses about the various software programs and practice management tools used by financial advisors today.

So who are the winners and losers from this year’s survey?

Redtail Technology, Salesforce, and Tamarac Advisor CRM are the winners among CRM software, as advisors continue to embrace cloud-based technology, with slippage coming from Junxure, ProTracker, ACT, and Goldmine.

In financial planning software, this year’s results are essentially a carbon copy of last year’s survey, with MoneyGuidePro, eMoney, and MoneyTree claiming the top three spots.

And the same is true with portfolio management software, as the top 6 vendors are also a total repeat of last year’s results.

So who missed out on opportunities this year? The survey randomly selected new products from Blueleaf, inStream, and Market76, but found that few advisors had even heard of these relatively new players, which tells me that financial advisors, well, those who don’t watch Bits and Bytes, continue to be a challenging market for new providers to gain exposure.] The move to the cloud is finally taking place. In category after category of this year’s Financial Planning Tech Survey, we found software providers making the shift, and advisors responding.

NaviPlan financial planning desktop products to be discontinued from InvestmentNews

[The next story features news from Advicent Solutions, the company formerly known as Zywave, who provides a suite of financial planning software to advisors under the NaviPro brand.

In an unexpected announcement to some users, the company announced it will sunset six of its NaviPlan products on March 31, 2014, citing an “ever-changing marketplace.”

Going away will be all of the NaviPlan Extended and NaviPlan Standard desktop-based variants, making the cloud-based NaviPlan Premium and NaviPlan Profiles the sole applications that will receive ongoing support and enhancements in 2014 and beyond.

This news reinforces the trend of advisors adopting cloud-based solutions as seen in the Financial Planning Software Survey, so don’t be surprised when other providers announce the discontinuation of their own desktop-based software in favor of cloud-based alternatives.] NaviPlan financial planning products for desktop computers will be discontinued as the owner develops its NaviPro products for online use.

Plowing Ahead from FA-Mag.com

[Software providers aren’t the only ones making big changes in advisor technology, as four of the major custodians are also investing heavily in advisor-facing technology in a very competitive arms race. Once again, Joel Bruckenstein interviewed executives from Fidelity, Pershing, Schwab Advisor Services, and TD Ameritrade Institutional to reveal their strategies to help make advisors more efficient and more profitable through enhanced technology.

There’s a ton of great information in this article, so be sure to read it to see what your custodian is doing to help you grow your business.] Over the last several years, custodians have been investing in advisor-facing technology like never before.

Envestnet | Tamarac’s Advisor Xi(R) Platform Added To Pershing’s NetX360(R) Technology Channel from WSJ.com

[And finally, one company benefiting from custodian technology enhancements is Envestnet|Tamarac. This week, the company announced that its Advisor Xi suite will soon integrate directly with Pershing’s NetX360 custodial platform, giving advisors straight-through processing capabilities for trades in accounts held at Pershing, as well as access to real-time custodial account data.

The real-time data feeds will compliment existing integrations with Schwab and TD Ameritrade supported today, and expand straight-through processing trading capabilities announced at Schwab IMPACT several weeks ago.

Tamarac anticipates that the new integrations will roll out to its 660 firms during the first quarter of 2014.] Envestnet | Tamarac, a division of Envestnet, Inc., a leading provider of integrated, web-based portfolio and client management software for independent advisors and wealth managers, announced today that it has formally begun the integration of its Advisor Xi(R) platform into Pershing’s NetX360(R) custodial channel for investment professionals and Registered Investment Advisors (RIAs). Advisors will have access to this integration in the first half of 2014.

 

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Watch FPPad Bits and Bytes for December 6, 2013

 

 

 

FPPad Bits and Bytes for November 22

Posted on November 22, 2013 by in Bits & Bytes

On this week’s broadcast, learn about new technology offerings from two of the top institutional custodians, a bold new workflow platform launches with the potential to revolutionize the way you use technology, and a new app is introduced to fill your prospecting funnel with qualified leads.

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

Fresh off its acquisition of PowerAdvisor, TRX offers advisors tax-efficient rebalancing, an easy to use interface, and more, all at an affordable price. Learn how you can gain a half a million dollar return on your technology investment by downloading their latest white paper at fppad.com/trx

Here are this week’s top stories:

Schwab IMPACT 2013 Report: All the technology trends advisors can’t miss from FPPad

[This week’s top story comes from Schwab Advisor Services, who unveiled several technology initiatives at their annual Schwab IMPACT conference last week. Capitalizing on four technology trends of Big Data, Mobile, Cloud and Integration, Schwab’s Neesha Hathi announced the company is working on Project PM2, a completely new, cloud-based portfolio management software solution.

Hathi also said Schwab is piloting mobile app development for advisors called OpenView Mobile, giving advisors a white-labeled app in the popular app stores that clients can use to view their account information.

Project PM2 and OpenView Mobile just scratch the surface of all of the announcements made at IMPACT, so be sure to read the main story for all the details.] Schwab IMPACT 2013 kicked off its pinnacle event in Washington, D.C. this year with a big focus on the technology trends sure to change the financial services industry in the foreseeable future. Here are the most important technology announcements provided by various members of the executive team inside Schwab Advisor Services.

Pershing Enhances NetX360® Platform with Additional Third-Party Technology Integrations from PRNewswire

[Another custodian that just introduced new technology integrations is Pershing, who announced that its NetX360 platform now connects with portfolio rebalancing software from Blaze Portfolio and portfolio management software from Portfolio Pathway.

These new integrations will streamline the data import and export process between NetX360, which should increase the popularity of these programs among advisors who custody assets through Pershing.

In addition, Pershing’s account opening process should get a little bit smoother through the addition of Laser App form filling software, and advisors using SmartOffice CRM from Ebix will enjoy single sign-on access from their NetX360 dashboard.] Pershing LLC, a BNY Mellon company, today announced several enhancements to NetX360®, its technology platform for advisors. NetX360 now offers additional integrations with two popular portfolio management and rebalancing solutions – Blaze Portfolio and Portfolio Pathway. Also, as part of its client onboarding solution, NetX360 now provides Laser App® forms management and configuration tools. In addition to these integrations, users of the NetX360 can now directly access Ebix Smart Office customer relationship management (CRM) software via a single sign-on process.

Fox Financial Planning Network Unveils Industry-Disruptive Technology for Financial Services Sector with Intelligent Automation and Integration™ Software from PRNewswire

[Next up comes a development in workflow systems for financial advisors. For years I’ve struggled to answer the question of where an advisor’s workflow system should ultimately live. Should it be a part of CRM software, or perhaps a sophisticated document management program? Well the folks at the Fox Financial Planning Network believe the answer is neither.

Instead, they recently announced the introduction of a new middleware application called Genesis Smartware, a workflow solution that operates in the background of the key programs advisors use every day. Genesis Smartware does not replace CRM or document management workflow, but rather it complements the capabilities of existing systems by leveraging APIs and integrations to step through a series of complex workflow steps.

I believe the potential for this approach to workflow is huge, but look for Fox Financial Planning Network to take a measured approach to rolling out this platform to advisors because until now, you’ve never seen anything like it.] Fox Financial Planning Network (FFPN) announced today the availability of a revolutionary new middleware software application, Genesis Smartware™, which will facilitate sophisticated integrations between industry technology providers, streamline and automate many of the daily tasks involved in providing financial advisory services, and serve as an integration translator between older legacy and newer platforms for financial institutions.

Orion Advisor Services, LLC Releases New Discover App For Creating Customizable Online Client Questionnaires from PRNewswire

[And finally, in an effort to boost advisors’ online lead generation capabilities, Orion Advisor Services just released a new interactive app called Discover. The portfolio accounting service bureau and past sponsor of Bits and Bytes is branching out to help advisors cultivate leads and capture prospect information online. Discover is an online questionnaire that can be completely customized by advisors, and prospects who complete the questionnaire can receive insightful portfolio reports and scorecards through an integration with AdvisoryWorld.

Prospect contact information is routed automatically to Salesforce, with other CRM integrations coming soon, giving advisors better control and visibility into lead generation and management of their prospecting funnel. The Discover app is free for Orion’s existing customers, and pricing for all other advisors is still to be determined.] Orion Advisor Services, LLC, a premier portfolio accounting service provider, announced the release of Discover, an interactive app that allows RIAs to design their own unique online client questionnaires to capture and connect with prospects prior to their initial meetings.

 

Watch FPPad Bits and Bytes for November 22, 2013

Watch FPPad Bits and Bytes for November 22, 2013

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.