Tag Archives: Schwab Advisor Services

FPPad Bits and Bytes for March 16

Posted on March 16, 2012 by in Bits & Bytes

You’re lucky today, as you get a pass on this week’s Bits and Bytes. While where were a number of alerts that passed my screens this week, none of them truly warranted an update as most articles just briefly touched on actually using technology in your business.

Nevertheless, you might enjoy the RIABiz series of the top ten individuals to watch in the RIA space for 2012, including Eric Clarke of Orion Advisor Services (#8) and Neesha Hathi of Schwab Advisor Services (#2), though make sure you see my comment about the omission of Jon Patullo of TD Ameritrade Institutional.

Oh, and did you know there is a landing page for the T3 Conference held back in February? AdvisorStudios put this together, and make sure you catch the three spotlight interviews I did on site.

Now you must excuse me, I have a new iPad to unpack from a FedEx box…

FPPad Bits and Bytes for November 11

Posted on November 11, 2011 by in Bits & Bytes

I’ve been back in Dallas for a week, but I still have yet to review and edit my notes from Schwab IMPACT 2011. Soon I hope to have two or three new updates on my feedback from conference breakout sessions, but consulting, new content development, and family obligations take precedence. Still, I’ve kept my pulse on the wires this week for the best in technology stories for financial advisers.

First, if you have a website, but are wondering what you can do to take it to the next level and convert visitors to clients, read this month’s column on Morningstar Advisor, How Marketing Automation Can Accelerate Client Growth.

All the major media outlets were on site at Schwab IMPACT 2011, so there were a number of stories released this week regarding related announcements. Most of them were good, but in this case, video content did a better job of addressing what the custodian is doing with its technology platform for advisers than print.

Here are two video updates from Schwab IMPACT worth viewing, one from InvestmentNews’s Davis Janowski interviewing Neesha Hathi and a second from James J. Green’s AdvisorOne, also interviewing Neesha Hathi.

Advisor Tested: Arkovi expands and archives a firm’s online footprint from RIABiz.com

[As an adviser in a regulated industry, you can’t tweet, post to Facebook, or interact on LinkedIn if it’s related to your business unless you archive and supervise your records. One tool that facilitates your compliance obligations is Arkovi, and Judy Messina gives a good rundown in this RIABiz Advisor Tested story.] As registered investment advisors flock to Twitter, Facebook and other social-media sites to establish themselves as thought leaders and connect with customers and other investment professionals, storing and keeping track of tweets, posts and other content for compliance purposes can seem like an exercise in herding cats.

And in related news, I think you might care a little bit about what might happen with the future of regulatory examinations for investment advisers.

Let RIAs Foot Their Own Examination Bill, Report Says from FA-Mag.com

[In a report commissioned by TD Ameritrade Institutional, Georgetown University finance professor James J. Angel proposed that RIAs should pay for their own periodic compliance examinations conducted by an outside third party. There’s merit to this idea, as RIAs who take custody of client assets today must subject themselves to (and pay for) a surprise audit by an independent public accountant that is registered with the Public Company Accounting Oversight Board (PCAOB).] Instead of the Securities And Exchange Commission (SEC) or the Financial Industry Regulatory Authority (Finra) examining RIA firms, the firms themselves should foot the bill for their own periodic compliance examination by using an outside body.

 

FPPad Bits and Bytes for October 28

Posted on October 28, 2011 by in Bits & Bytes

I just came back from Brooklyn where the NAPFA Practice Management and Investments conference was held. While away, I kept an eye on new tech stories for advisers and wrapped them in one nice convenient package for you here:

TD Ameritrade Institutional Veo® Integration with Salesforce CRM Helps Financial Advisors Manage Important Client Relationships from amtd.com

[My Bits and Bytes post for September 9 listed TD Ameritrade’s announcement of an impending release of Salesforce CRM for its advisers. Yesterday, TD formally announced its release, which includes pre-defined workflow sequences advisers can use to get up and running quickly.] TD Ameritrade Institutional today introduced a Veo advisor platform integration with Salesforce CRM and other third party systems. The customized CRM app offers advisors flexibility, automated workflows and easier access to client data to help improve efficiency and client service.

Pershing Expands Anytime, Anywhere Account Access for Investment Professionals and Advisors With the Launch of Web-based NetX360.com from PRNewswire.com

[You knew lots of announcements were coming now, just days before Schwab IMPACT next week. Here’s an update from Pershing, which is in the final testing phase of rolling out a 100% web-based solution for its NetX360 platform. Notably, the platform supports multiple browsers, including Chrome and Safari, which I feel is a very wise decision.] Pershing LLC, a BNY Mellon company, announced today that it has expanded its leadership of anytime, anywhere account access with the introduction of a browser-based version of its innovative, open-architecture NetX360® technology platform.

Turning planning on its head from InvestmentNews.com

[Davis Janowski covers a new entrant into the financial planning software space. Free, web-based inStream from inStream Solutions, headed up by McLean Asset Management’s Alex Murguia, looks to be a streamlined challenger to the established, high-maintenance software applications traditionally used by advisers.] Planning tools that predict a client’s future needs, advanced financial calculators and an integrated contact management system make inStream a robust, cloud-based product.

EISI strikes a deal to cash out its shareholders from RIABiz.com

[A property and casualty insurance software provider bought the maker of NaviPlan. Add this to the Financeware patent-infringement issues from a few months back, and you have some “what’s next?” thoughts with respect to the future of financial planning software.] Faced with an innovation challenge and increased competition, Emerging Information Systems Inc., North America’s biggest financial planning software company, responsible for NaviPlan and Profiles financial planning software, announced yesterday that its shareholders have reached a deal to sell EISI.

Download the Schwab IMPACT® 2011 mobile app

Posted on October 19, 2011 by in General

Schwab IMPACT® 2011, one of the industry’s largest conferences, is set to kick off in less two weeks. On Thursday November 3, I’ll be appearing on a panel along with Daniel Bernstein of MarketCounsel and Mike Byrnes of Byrnes Consulting in a session titled Building a Compliance-Friendly Social Media Strategy.

While preparing for the session, I discovered that Schwab just released a mobile app for the conference for iPhone and iPad. The mobile app contains some useful resources such as the entire conference agenda, maps of the venue and expo area (though they open websites when clicked, so one will need an Internet connection to view maps), and exhibitor and sponsor information.

Conference attendees with a valid login can view and update their personal schedule from within the mobile app (though I personally had issues removing events from my schedule while testing the app). Session surveys can also be completed using the mobile app, eliminating the need to drop paper forms at the back of the room at the conclusion of a session.

Click here to open the Schwab IMPACT® 2011 mobile app in the App Store.

FPPad Bits and Bytes for September 9

Posted on September 9, 2011 by in Bits & Bytes

Originally I hadn’t planned on posting a Bits and Bytes update today. I was on vacation until today and there were no relevant stories that came across my feeds. Then yesterday afternoon came.

While on my return flight to Dallas, my feeds and screens peppered me with updates from many of the major custodians including Schwab, TD Ameritrade, and Fidelity.

Say Goodbye to Paper-Based Compliance Practices

But first, my September column for Morningstar Advisor covers a technology product aimed at reducing the manual data-gathering process associated with compliance activities, namely trading supervision and pre-clearance approval. Go read it! Say Goodbye to Paper-Based Compliance Practices.

Now on to this week’s stories of interest:

 TD Ameritrade to release customized version of Salesforce from FA-Mag.com

[So if you’re Schwab and announce a partnership with Salesforce in October 2010, then take a year to roll something out to advisers, someone might steal your thunder. That’s just what TD Ameritrade did this week as it announced the rollout of a customized version of Salesforce at about a 40% discount to advisers. I’m going to view the demo this afternoon and hope to report shortly thereafter.] TD Ameritrade Institutional (TDA) is putting final touches on a customized version of Salesforce that it will release in October.

Fidelity Rolls Out ‘Technology Investment Evaluator’ for Advisors from Financial Planning

[Not to be left out, Fidelity is providing its internal consultants with an Excel-based spreadsheet that helps rank the various tools available to advisers by how well the tool might meet advisers’ needs.] Fidelity Investments’ RIA custodian business has announced a new tool, Technology Investment Evaluator, to help advisors run their businesses more efficiently.

And on Monday, I posted that Schwab revealed its new Intelligent Integration website and formed a new subsidiary called Schwab Intelligent Technologies to support the effort.

For my thoughts on Salesforce, read Is Salesforce the future of adviser CRM?

Schwab reveals Intelligent Integration website

Posted on September 5, 2011 by in Software

Over the weekend, Schwab revealed a new website featuring details of its Intelligent Integration solutions for financial advisers.

Schwab Intelligent Technologies website

Schwab Intelligent Technologies website

The new site, published by Schwab Intelligent Technologies, a new subsidiary of The Charles Schwab Corporation, offers advisers a glimpse of what the company hopes to accomplish with the Schwab OpenView Gateway™ solution.

Website visitors can view a brief demo video of the Intelligent Integration vision, read a FAQ, and see the list of third-party integration providers.

FPPad Bits and Bytes for August 26

Posted on August 26, 2011 by in Bits & Bytes

Again, I found myself fully engaged in content creation and research this week. I completed my Morningstar Advisor column for September and added new content to my Transformative Technology slide deck for a presentation in September. Next week I’ll be attending the Gemini + Orion Advisor Forum in Denver, CO, immediately followed by a week of vacation to escape this brutal heat in Dallas.

Here are this week’s stories of interest:

There are multiple stories on Schwab Advisor Service’s Intelligent Integration initiative to kick off this week.

My take: Schwab’s Intelligent Integration is finally producing results. But will Schwab’s approach on limiting its integrations prove to be a prudent move or a platform-limiting one? Think about Apple’s success with app developers: Would the iPhone and iPad be so successful today if Apple were the only developer of applications for the devices?

ByAllAccounts and Redtail Technology Offer Centralized Access to Clients’ Comprehensive Account Data from GlobeNewswire.com

ByAllAccounts, Inc., the financial advisor’s choice for account aggregation, and Redtail Technology, a leading provider of Client Relationship Management software, today announced a partnership that provides financial advisors easy access to a more comprehensive client snapshot.

Special Report: The technology products advisers use most from InvestmentNews.com

My take: There are a few articles here about adviser use of technology plus two updates of survey results listing the most popular technologies overall and by category. I’ll likely compare the InvestmentNews survey results with those of the 2010 Financial Planning Magazine Technology Survey.

A Look Inside LPL Financial’s Social Media Strategy from Financial-Planning.com

[If you’re the nation’s largest independent broker-dealer by assets, just how do you implement social media across thousands of reps?] At focus11, LPL Financial’s national conference held earlier this month, it was clear that social media was clearly more than just a casual “focus” for the 5,000-plus attendees.

FPPad Bits and Bytes for August 19

Posted on August 19, 2011 by in Bits & Bytes

While August may mean a typical slowdown in client activity for advisors, I’ve had one of my busiest week’s yet. I’m working on my second contribution for the Journal of Financial Planning (to be published in November), conducting research for September’s Morningstar Advisor column, creating content for Blueleaf, and creating two new slide decks for presentations coming up in September and October.

Here are this week’s stories of interest:

Financial Advisors Putting Client Data in “The Clouds” from RegisteredRep.com

[Jude is a good friend and I’m pleased to see this interview about how he runs his new practice almost entirely in the cloud.] When Jude Boudreaux launched his solo practice, Upperline Financial Planning in September, he headed for the clouds. There’s no server, no software upgrades, no technology manager — just him, his MacBook Air and a home office.

Cabinet NG Introduces Industry First Features With CNG-WEB 8 from Marketwire.com

[The battle in document management for financial advisers continues. Cabinet NG steps it up with increased support for web and mobile access to documents stored in its hefty repositories.] Cabinet NG, provider of document management and workflow management software, today announced a new version of CNG-WEB, its browser-based document management interface. This release marks the latest step in the company’s strategy to make documents available to authorized users securely at any time, from anywhere.

Socialware raises $7 million from Statesman.com

[Social media compliance services are getting serious. Many companies are now entering a period of strong growth, including Socialware, which has nearly tripled its staff in less than a year.] Software developer will use funding for research and development, adding staff.

Schwab Intelligent Integration Begins Pilot Phase from Financial Advisor magazine

[Schwab IMPACT is about 2 months away. Will SII’s platform be ready for primetime with all advisers by then?] Charles Schwab & Co. Inc. has completed beta testing of its custom Salesforce integration, and is entering the pilot testing phase.

FPPad Bits and Bytes for August 5

Posted on August 5, 2011 by in Bits & Bytes

I spent much of the week attending a retreat to help plan the future of the financial planning profession. Add to that my commitments for Morningstar, Blueleaf, and the Journal of Financial Planning and I had a nose-to-the-grindstone schedule.

But still, you can count on my Friday updates to deliver the best tech related articles from around the financial planning industry. Here they are:

Ebix may hit a CRM sweet spot for some RIAs from RIABiz.com

[I used SmartOffice CRM from E-ZData back in 2006-2007, now part of the Ebix family. It has the potential to grow in the financial adviser space, but the CRM has a lot of work ahead of it.] For advisors looking for a happy medium, say a company with some heft whose people – and maybe even the inner workings of its computers – know the difference between an advisor and a carpet wholesaler, Ebix might be worth a look.

VirtualPlanning from Financial-Planning.com

[Think you need to meet clients in your office all the time? Think again. Here are some spotlights of advisers using remote tools like Skype and RingCentral to meet with clients on their terms.] In an era when clients can easily reach their accounts online, many planners are cutting overhead and staff and working remotely.

The Mobile Advisor from Financial Advisor

[Another article on advisers working remotely, only this time the focus is on eliminating operating overhead and infrastructure, rather than identifying specific technology to facilitate remote working.] In the wake of economic pressures on financial advisory practices, some have chosen to dramatically downsize their firms, opting to fire staff, work without an office or even give up certain types of clients.

CRM: An Untapped Engine for Growth from AdvisorOne.com

[Schwab Advisor Services VP Neesha Hathi explores survey results on advisers using (and not using) CRM effectively.] By taking advantage of these key untapped growth drivers in CRM, advisors can boost their success in three areas.