Tag Archives: Redtail Technologies

FPPad Bits and Bytes for October 5

Posted on October 5, 2012 by in Bits & Bytes

Yes, it’s October already. How are you faring on your new technology initiatives for 2012?

If you didn’t attend FPA Experience last week, you still can get a great recap of my Transformative Technology You Can Implement Today presentation from this WealthManagement.com update, From FPA 2012: Transformative Technology That Doesn’t Cost a Dime, and Financial Planning magazine’s story, What’s the Most Important Tech Tool for Advisors?

Here are this week’s stories of interest:

Schwab and Salentica Announce Launch of Integration for Independent Investment Advisors from Schwab Advisor Services

[Here’s the history on Salentica’s integration with Schwab: in May 2012, they entered a beta testing, transitioned to a pilot phase in August (see FPPad Bits and Bytes for August 3), and is finally in production to advisers using Salentica’s Advisor Desk. How many advisers can that represent? In the 2011 Financial Planning magazine software survey, 4% of 3200 respondents, or roughly 120, said they use Microsoft Dynamics for CRM. So some smaller percentage of that 120 are probably using Salentica. My guess is it’s less than two dozen.] Schwab Intelligent Technologies and Salentica Inc. announced today that Salentica Advisor Desk™ with Schwab OpenView Gateway™ is available to independent investment advisors after a successful pilot. Advisors who use Salentica Advisor Desk as their client relationship management (CRM) solution can now view real-time information on their clients’ financial holdings within their CRM.

Smarsh Launches Archiving & Compliance for Salesforce Chatter on Salesforce.com’s AppExchange from Smarsh.com

[Smarsh is building off its summer success of releasing Web Archiving (see: Smarsh president Stephen Marsh addresses Pinterest and compliance), and now the archiving vendor captures messages sent through the enterprise communication platform Chatter from Salesforce.] Smarsh®, the managed service leader in secure, innovative and reliable email archiving compliance solutions, today announced it has launched Archiving & Compliance for Chatter on Salesforce.com’s AppExchange, the world’s most popular cloud marketplace for social apps for business. Archiving & Compliance for Chatter enables organizations to capture, preserve, search, supervise and produce organizations’ Chatter files and communications in support of compliance, recordkeeping and e-discovery initiatives.

Fox and Redtail partner on work flow from InvestmentNews.com

[Back in 2011 I reviewed the latest refresh of Redtail CRM for Morningstar (see: A Popular CRM Gets an Upgrade), and at that time the CRM supported basic step-by-step workflow definitions. In it’s latest partnership, Redtail users can now open PDF files of workflow designs published by Fox Financial Planning Network directly within the CRM. As to pricing, the top tier purchase is around $6,000 and includes full training sessions, workflow system, resource center and coaching, with a nominal monthly access fee thereafter. I’ve seen discounts available for AICPA PFP section members, so ask if you’re affiliated.] Fox Financial Planning Network and Redtail Technology Inc. this week plan to announce a technology integration that allows for “one-click” deployment of FFPN’s comprehensive “client service delivery work flows” onto Redtail’s popular customer relationship management platform.

 

FPPad Bits and Bytes for September 14

Posted on September 14, 2012 by in Bits & Bytes

Here are this week’s stories of interest:

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

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

Money management, Silicon Valley-style from Forbes

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

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

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

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

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

MarketCounsel Sells MailBanc Messaging Unit to Global Relay from AdvisorOne

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

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

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

[VIDEO] Redtail CRM launches new mobile apps and makes them free to advisers

Posted on June 26, 2012 by in Video Spotlight

The leading web-based CRM provider overhauls its suite of mobile apps and eliminates its monthly charge for access

UPDATE 07/09/2012: Users can now download Redtail CRM from the Blackberry App World

In an announcement sent to users today, Redtail CRM announced the release of completely new mobile apps for use with iOS, Android, and Blackberry devices. All mobile apps can be downloaded for free and the company has eliminated the monthly access fee it used to charge for use of its mobile apps.

In the spotlight video below, Redtail Technology CEO Brian McLaughlin tells me about how the company developed the new apps in-house, focusing on the security of web streaming but preserving the speed and responsiveness of a native application.

“Redtail first released a mobile application for accessing Redtail CRM in 2009.  Since that initial release and through subsequent versions of Redtail Mobile, we have been fortunate enough to receive invaluable feedback from our subscribers as to what we can do to make the mobile experience of Redtail CRM better,” the company said in its statement.

Redtail’s existing mobile apps generally received lukewarm reviews in the various app stores. Most notably, users expressed dissatisfaction that an additional monthly access fee was charged to enable mobile device access to CRM data.

Today you can download Redtail CRM for iPhone/iPad in the App Store, for Android in the Google Play market, or from the Blackberry App World.

(watch Redtail CRM: Announcing new mobile apps for iOS, Android & Blackberry on YouTube)

[VIDEO] How to use Redtail CRM like a power user

Posted on June 21, 2012 by in Software, Video Spotlight

All-day training helps advisers and operations staff get the most out of the popular online CRM.

As you review the CRM you use to manage client relationships, you probably recognize that you’re only using a small portion of all the features the program offers. Wouldn’t it be nice if you could get exposed and trained on some of the advanced features that improve your firm’s client communication (and your bottom line)?

Redtail CRM, the leading provider of web-based CRM software to financial advisers, provides an all-day training course to its users called Redtail University.

I recently met Redtail CEO Brian McLaughlin at a recent Redtail University event in Dallas and asked him about the value the course provides to advisers.

“With every new tool or software [advisers] get today, they’re only using 10, 20, 30% of the application. This is an opportunity to learn everything we have to do, take it back home, and hopefully implement one, two, or three new things,” said McLaughlin.

See the full video for more information about Redtail University, then view the schedule of upcoming training events.

FPPad Bits and Bytes for May 4

Posted on May 4, 2012 by in Bits & Bytes

Recent travel and a nasty cold this week prevented me from setting aside time for regular updates to FPPad. I just returned from giving a presentation in Phoenix, got sick, and want to get better before I head to San Francisco on Monday for Finovate Spring 2012.

I still need to unpack my bag from Wednesday and repack it for Monday, but you are free to proceed with this week’s stories of interest:

SigFig offers to tune up your investment portfolio from GigaOM.com

[Over the past few months I’ve highlighted new platforms like Personal Capital aiming to reach investors directly through simple websites and mobile apps. SigFig is another one to watch that officially launched earlier this week.] SigFig, a product born from portfolio tracker Wikinvest, is finally launching formally Tuesday, offering to make understanding investments easy. The free service, which has been in beta, allows users to sync all their investments and monitor them in real-time from one dashboard with extensive analysis conducted in the background to help find where users can save money.

Why Betterment, Wealthfront, and Other Online Investment Firms are Wrong about Financial Advisors from Forbes.com

[For more on the “robo adviser” trend, here’s an op-ed piece from Brightscope’s Mike Alfred in Forbes. My take: clients of the future will still want to engage and interact with human being advisers, only they want their advisers to be proficient in technology and support virtual engagement, both online and on mobile devices.] In a recent blogpost, Betterment made the broad-sweeping claim that Financial Advisors are Bad for Your Health. To make their position clear, they included an unfortunate image of a human face on the body of a pig. It didn’t take long for the Reformed Broker Josh Brown to draw the conclusion that Betterment thinks Financial Advisors are Pigs.

Redtail Technology Launches Integration with NetDocuments from PRWeb.com

[So Redtail CRM already has a document storage system called Imaging, but it lacks a number of components found in a true document management system. Redtail could either update Imaging to include new features, or it can support an integration with a third party document management provider. Alas, it appears Redtail’s strategy is to pursue the latter.] NetDocuments, a leading cloud content management service provider, announced a new integration today with Redtail Technology’s innovative web-based Client Relationship Management (CRM) solution for Financial Advisors.

Maximize Your Technology Spending in 2012

Posted on January 4, 2012 by in Efficiency, Software, Technology

My contribution schedule to the Journal of Financial Planning has changed for 2012. Instead of columns in the May and November editions, look for my articles in this year’s January and July editions.

To kick off 2012, I highlight 13 products and services you can purchase in 2012 that are sure to increase your firm’s growth and your personal productivity.

And you don’t need to spend big bucks to benefit from these ideas. There’s something for everyone with budgets ranging from as little as $100 up to $5,000.

So read January’s column at the Journal of Financial Planning now, Maximize Your Technology Spending in 2012.

FPPad Bits and Bytes for December 2

Posted on December 2, 2011 by in Bits & Bytes

It was a slow week in financial planning technology news, but thankfully, December marks the release of the annual Financial Planning Technology Survey. Joel Bruckenstein’s review of what tools and technology advisers are using dominates this weeks update. Otherwise, companies must be entering that post-Thanksgiving quiet period in advance of the December holiday season.

Here are this week’s stories of interest:

Tech Survey from Financial-Planning.com

[Redtail leaps ahead of CRMs, advisors flock to iPads, and firms still operate without any form of real document management. Read this and other insights in Bruckenstein’s annual review.] From iPads to Androids to cloud providers, technology evolves oh-so-fast, and FP’s annual tech survey reveals that advisor technology usage is changing rapidly too.

Advisor Tech Survey: Tablets Are What’s Hot Now from Financial-Planning.com

[When I spoke to a room full of advisers at NAPFA Connections in Dallas last month, over 80% of them raised their hands when asked if they owned an iPad. How much more proof does one need?] For financial advisors, the introduction of iPad over the past year has changed everything. Notoriously resistant to new technologies, advisers have become envious of the remarkable advancements taking place in the consumer tech market.

UBS Gets Serious About Mobile With iPad App Test Drive from Financial-Planning.com

[Financial advisers affiliated with UBS Wealth Management Americas will soon have access to the UBS FA Mobile app for iPad. Perhaps the intro sentence would be better if the hope was to create more effective engagements with clients. AUM growth is just a side effect of that.] Some 60 UBS Wealth Management Americas financial advisors will kickoff a three-month test drive this week of an iPad application designed to make it easier to interact with clients and access research reports — all in the hope of generating more assets under management.

The Mitigator from Financial-Planning.com

[How do you manage $300+ million AUM with just a staff of three? Get Tamarac Advisor X and leverage ByAllAccounts.] When a Midwestern regional bank bought the independent firm financial planner Marc Henn worked for in 2002, his clients questioned where their interests ranked on the firm’s list of priorities. “My clients encouraged me to start my own firm,” Henn says. In 2008, he did, founding Harvest Financial Advisors of West Chester, Ohio.

FPPad Bits and Bytes for September 30

Posted on September 30, 2011 by in Bits & Bytes

I’ve been on the road Monday through Thursday, sharing information on how advisors can use transformative technology in their businesses today. Despite my travel, I am still keeping you informed on the top stories in tech this week.

Here are this week’s stories of interest:

Orion Updates Advisor Desktop for RIAs from AdvisorOne.com

[Orion is in the news again, this time announcing updates to its rebalancing tool to provide household-level management.] Orion Advisor Services unveiled the latest release for it Advisor Desktop portfolio management suite for RIAs on Monday with new features designed to make it easier for advisors using the primary database management tool to rebalance their clients’ portfolios and create tax efficient strategies at the household level.

Fidelity is set to add Envestnet, Redtail, Morningstar, AppCrown and Salesforce to WealthCentral from RIABiz.com

[If you’re a major custodian, you have technology news to share leading up to November. Case in point: Fidelity announces key integrations for its advisors.] As part of an accelerating arms race among RIA custodians, Fidelity Investments has more than doubled — to 11 from five — the number of vendors it plans to invest in integrating as part of its WealthCentral platform.

Trust Company of America is giving RIAs more weapons for free-wheeling from RIABiz.com

[Trust Co. of America announced its Liberty mobile platform two weeks ago. Hear from affiliated advisors on the benefits they see in the system.] Advisors currently using the product say that it takes the use of a mobile platform to a new level because everything that can be seen on a PC can be seen on a smart phone or tablet in the exact same configuration.

Advisor Software Debuts goalGetter App for iPad from Financial-Planning.com

[Today, if you don’t have a solution for mobile devices, iPad in particular, you might as well go back to the drawing board with your strategy. Here’s another iPad app for advisers from Advisor Software.] Advisor Software, a provider of wealth management applications for financial advisors, announced that its goalGetter financial planning application for the iPad is now available for free download from Apple’s App Store.

FPPad Bits and Bytes for June 24

Posted on June 24, 2011 by in Bits & Bytes

I’ve been in 100% focus mode this week, working on new products and services for FPPad’s consulting business. eBooks are a part of that development, too, so if there’s a hot topic in which you’re interested (e.g. iPad for advisers, social media compliance, etc.), please let me know.

Here are this week’s stories of interest.

Advisers: How do you know when it’s time for an upgrade from InvesetmentNews.com

Financial advisers, whether solo practitioners or members of a multiperson firm, need to think regularly about whether their technology is keeping pace with their business needs. Experienced advisers and technology experts have plenty of advice and experiences to share.

Portfolio management, reporting spawning new players, products from InvestmentNews.com

[Davis Janowski had a busy week this week!] Advisers seeking portfolio management software have choices beyond venerable offerings such as Advent Axys and Schwab PortfolioCenter. Take, for example, the demonstrations of two portfolio management and reporting systems that I received last week: PowerAdvisor and Atom Align Cloud Service.

Review: How Redtail got hot fast among RIAs and how it plans to leapfrog itself from RIABiz.com

[I reviewed Redtail’s upcoming Project Leapfrog release in May’s Morningstar Advisor column, A Popular CRM Gets an Upgrade] Fondly named after CEO Brian McLaughlin’s red-tailed golden retriever (not the hawk or the beer), Redtail is a Sacramento-based company living the American dream.

LPL Financial Provides Advisor Access to Social Media from FA-Mag.com

[If you read this month’s Morningstar Advisor column, How to Make Social Media Compliance Automatic, then you already knew Erado was on LPL’s preferred vendor list. Now the deal is official.] LPL Financial becomes the latest independent broker-dealer to allow its advisors to use social media, signing a multiyear deal with Erado Message Control Solutions that will provide monitoring that meets Financial Industry Regulatory Authority requirements for review of online marketing, officials said Wednesday.