Vanare Archives

FPPad Bits and Bytes for December 2, 2016

Posted on December 2, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Vanare becomes AdvisorEngine after a $20 million dollar investment, RightCaptial gets a favorable review, and Addepar opens up about the capabilities of its technology.

So get ready, FPPad Bits and Bytes begins now!

(WatchFPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by eMoney Advisor, the leading provider of digital wealth management solutions. eMoney just introduced two new Advanced Analytics products: Advisor Analytics Pro, offering advisors and support staff deeper business insights, and Office Analytics, offering never-before-seen firm-wide insights.

Featuring a customizable Analytics dashboard, an expansive library of new and interactive data charts, and more, eMoney’s Advanced Analytics solutions will help you put your data to work and uncover more opportunities. For more information the eMoney Analytics solutions, visit fppad.com/emoneyanalytics.

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

Vanare gets $20M in funding from WisdomTree, and rebrands itself from Financial Planning

[First up is news from Advisor Engine, which you may recognize under the company’s former name of Vanare. The name change was carried out as WisdomTree, the exchange-traded fund sponsor and asset manager, announced a $20 million dollar investment in Advisor Engine for 36% equity in the company.

This investment is the latest example of ETF issuers getting in the automated investment service space, but remember, BlackRock acquired FutureAdvisor, Invesco acquired Jemstep, yet WisdomTree chose to make a minority equity investment. I’m just not exactly sure why they didn’t acquire the whole business, but then again, I’m not the one that has to cut a check for $50 million dollars.

So let me connect some dots. All of the automated investment services are putting downward pricing pressure on asset allocation and periodic rebalancing. So in general, margins for traditional portfolio management are being compressed. You can either add value elsewhere, or look for ways to save on operational costs for your business.

AdvisorEngine’s new capital means it likely won’t shut down anytime soon, AND, the company recently added support for custody services at Apex Clearing, which could be a potential way you reduce your operational expenses AND allow you to pass some of those savings directly to your clients, all from a white-labeled solution.

For me, that’s why this transaction is an interesting one to keep an eye on.] WisdomTree is providing [Vanare] with an injection of funds in a bid to better position itself for industrywide changes wrought by new technologies and stiffer regulations, according to CEO Jonathan Steinberg.

Is RightCapital the right fit? from Financial Planning

[Next up is news about RightCapital, as Financial Planning magazine columnist Joel Bruckenstein reviewed the financial planning software and offered his take of where it fits in the marketplace. One of the distinctive features RightCapital offers is the ability to generate simulated tax forms so you can actually see how decisions on deductions, distributions, and taxable withdrawals will impact a client’s personal tax return.

Also, just because RightCapital has a fresh and modern UI doesn’t mean it’s a solution only for younger clients. RightCapital’s robust modeling of asset withdrawal strategies was highlighted in the review, allowing clients to simulate the best withdrawal strategies when factoring in Social Security and tax-deferred tax-free retirement accounts.

Of course, there’s much more to the review, but overall, RightCapital gets recommended as a more-than-adequate application for the mass affluent market. A 14-day free trial is available so you can evaluate the solution for your clients’ needs.] The middle ground in financial planning software is exactly the niche that RightCapital is targeting, according to co-founder Shuang Chen.

Addepar’s strategy: Focus on HNW, arm advisers with digital tools from Financial Planning

[But, if your business serves high net-worth households, this week’s final story on Addepar should be worth taking note. The investment management technology company appears to be opening up a bit more about exactly what it is they do.

In an interview with SourceMedia managing editor Suleman Din, Addepar’s CEO Eric Poirier described how much of the high net-worth marketplace has been historically addressed by custom Excel spreadsheets.

When clients start identifying assets like their limited partnership interests, equity investments, venture capital, and so on, most off-the-shelf solutions just aren’t compatible with the esoteric properties of these assets. But that’s been Addepar’s focus for five years, according to Poirier.

That kind of development sets Addepar apart as the Ferrari of the investment management technology space and is appropriate for households that require that kind of horsepower, and while that power certainly scales down to more traditional accounts with stocks, ETFs, and mutual funds, I suspect you’ll find it’s a bit overkill in capabilities and price if your business primarily serves the needs of mass affluent households.] While other fintech startups claimed they would disrupt the wealth management industry, Addepar has taken the tack that it can make it better.

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

Future ready: Seismic moves for digital wealth management from Financial Planning

A close examination of the [2016 FP Tech Survey] data reveals other interesting trends, including which broker-dealers, custodians and third-party tech providers seem to be the best at meeting advisers’ needs, where advisers can get a good return on tech investment and how the next generation of advisers approaches tech.

Digital advice expects big growth from banks from Financial Planning

Digital advice as an industry will take off once it is built into retail banking, capitalizing on an investor segment ignored by wealth managers, says SigFig CEO Mike Sha. That’s why, announcing his firm’s newest partnership with Citizens Bank, Sha predicts his platform will reach half of all U.S. households by next year.

Watch FPPad Bits and Bytes for December 2, 2016

FPPad Bits and Bytes for November 18, 2016

Posted on November 18, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Wells Fargo announces a partnership with SigFig, Cetera’s computers systems suffer a two-day outage, lessons from a hack at Lincoln Financial, and more.

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:

Wells Fargo Goes Robo With SigFig Wealth Management from WSJ.com, and

Wells Fargo notice of an application for an exemption from certain requirements of rule 3a-7(a)(4)(i) under the Investment Company Act of 1940 from SEC.gov

[First up is news from Wells Fargo, as the bank, which finds itself in the middle of a very public firestorm over opening unauthorized accounts, announced this week that it is partnering with SigFig to release an automated investment service to customers of Wells Fargo Advisors sometime in the first half of 2017.

Other than the potential release date, there really wasn’t any concrete information on pricing or the types of investments to be used in the service. Will they be Wells Fargo mutual funds, or third-party ETFs? As of today, Wells Fargo doesn’t offer its own ETFs, but earlier this year, the company filed an exemptive relief request with the SEC, signaling some intent to enter the ETF space.

But that opens the door for potential problems with the Department of Labor fiduciary rule, highlighted by industry Nerd-In-Chief Michael Kitces, where automated investment services that recommend investments in proprietary products, Kitces calls out Schwab Intelligent Portfolios and BlackRock’s FutureAdvisor, do not qualify under the Level Fee Fiduciary exemption because of the variable compensation inherent in an allocation of proprietary ETFs!

So, this is all “industry” stuff, and not all that applicable to your business, but here’s my point. All the big banks, all the incumbent financial institutions are boarding the automated investment bandwagon. Sooner rather than later, your clients and prospects are going to get solicited by the very institutions they use today.

And clients are expecting an experience like Uber, but you’re still driving around a dirty taxi that has to be flagged down with a hand in the air that doesn’t have a functional credit card machine!] Wells Fargo & Co.’s brokerage arm is partnering with SigFig Wealth Management LLC to bring automated investment advice to clients, the latest example of how traditional wealth-management firms are working with startup robo advisers to offer new digital tools to investors.

Cetera Brokers Endure Two-Day Systemwide Crash from AdvisorHub

[Next up is news about Cetera Financial Group, as the independent broker dealer encountered a company-wide systems outage that affected 9,000 brokers as well as the company’s back-office and operations teams.

According to an AdvisorHub article, the outage started on Monday, and one broker with First Allied reported that he could not sign in to view emails, access performance reports, or even call Cetera using their standard phone number. Cell phone numbers were eventually sent out on Monday evening.

In a firm-wide conference call on Tuesday afternoon, Cetera Chief Executive Robert Moore apologized for the disruption and said systems had been fully restored, and added that no data had been compromised through hacking or any other unauthorized access.

So, let this be a reminder that if it’s been a while since you tested your business continuity plan, next week’s Thanksgiving break might be a good time to do so. It doesn’t matter if you manage your own systems or leverage the resources of a broker-dealer, you need to verify how you can perform the essential parts of your business in the event of a disruption.

Attackers are launching denial of service attacks every day against financial institutions, so it’s important that you know exactly what you need to do when the systems you depend aren’t available.] Just six months after emerging from bankruptcy, independent brokerage company Cetera Financial Group experienced a companywide systems outage Monday and Tuesday that walled off brokers at its seven operating broker-dealers from customer data, emails and other vital account management functions.

Lincoln Financial Unit Gets $650K Fine After Server Hack from Law360, and

LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2013035036601 at FINRA.org

[And speaking of attackers, my last story is about Lincoln Financial Securities, an affiliate of Lincoln Financial Group, as the company paid a $650,000 fine imposed by FINRA for failing to safeguard customer data stored on a cloud server used by one of its OSJs.

Sometime in 2012, hackers were able to access the could server configured by a third-party vendor and obtain records on approximately 5,400 customers. The FINRA Letter of Acceptance doesn’t say HOW the server was compromised, and didn’t identify what kind of server was in use. Was it an FTP server, a service like Dropbox, a proprietary server with remote access, or something else?

But more troubling to me is that FINRA goes on to say that the firm “failed to take adequate steps to monitor or audit the vendors’ performance.” Now hold on. One benefit of leveraging third-party vendors is that they bring expertise to the table that the firm doesn’t have, like, oh, I don’t know, cybersecurity expertise.

But for FINRA to say that the firm failed to test and verify the security of the cloud servers, that just doesn’t seem right. The firm doesn’t HAVE the expertise in cloud server security, which is why the firm hired the third-party vendor in the first place, but now FINRA says that the firm is the one that has to verify the security of the third-party vendor that it hired to bring security expertise to the firm? How is that even possible?

What I do know is FINRA just levied a heavy fine on a firm because their third-party vendor had a hole in their security that was exploited by hackers, and in my opinion, that’s a troubling precedent that has been set.] A Lincoln Financial Group subsidiary on Monday agreed to accept a $650,000 fine leveled by the Financial Industry Regulatory Authority and implement tighter security protocols after hackers in mid-2012 accessed its cloud server and lifted the confidential records of roughly 5,400 customers.

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

WisdomTree Makes Strategic Investment in AdvisorEngine from WisdomTree

WisdomTree Investments, Inc. announced that it has invested $20 million for a 36% equity interest in AdvisorEngine, formerly known as Vanare, an end-to-end digital wealth management platform which enables individual customization of investment philosophies.

PIEtech℠, Inc. Unveils Integration with MX for Aggregation and Personal Financial Management Functionality from PRWeb

PIEtech℠, Inc., the creator of the industry’s leading financial planning software, MoneyGuidePro®, today unveiled a new integration with MX to deepen the availability of aggregation for MoneyGuidePro® subscribers and add personal financial management (PFM) functionality via the client portal.

Combined Envestnet and Yodlee Data Offering Supports Morgan Stanley Wealth Management from PRNewswire.com

Envestnet | Yodlee and its parent company Envestnet, today announced a partnership for the combined organization, providing data aggregation, digital applications and data reconciliation solutions to Morgan Stanley, one of the largest, most established wealth management businesses in the industry.

Watch FPPad Bits and Bytes for November 18, 2016

FPPad Bits and Bytes for August 19, 2016

Posted on August 19, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Vanare announces two integrations that should raise a few eyebrows, and relationship intelligence gains momentum in the apps you might be using in your business.

So get ready, FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

Now before I get started, I want you to know that this September I’ll be attending the 3rd annual Fuse Hackathon hosted by Orion Advisor Services, hosting the 2016 XY Planning Network Conference FinTech competition, and I’ll be the master of ceremonies of eMoney Advisor’s first-ever hackathon at their 2016 Advisor Summit.

Here are the codes you can use to save money on your event registration (Important! These are coupon codes, NOT affiliate links. I do not get any affiliate revenue if you register for the events):

XYPN16 and eMoney Summit Discount Codes

Save $25 on the 2016 XY Planning Network Conference using the code FPPad.

Get the early bird pricing to the 2016 eMoney Advisor Summit (a savings of $400!) using the code FPPad.

FPPad Bits and Bytes for July 29, 2016

Posted on July 29, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, it’s a robo free-for-all, so put on your best robo accessory, because FPPad Bits and Bytes begins now!

(Watch FPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by Envision Consulting, providers of IT management and support, cloud computing, and cybersecurity services to RIAs. This October, Envision is hosting a cybersecurity event with Kevin Mitnick, the World’s Most Famous Hacker, where you can find out how to leverage Kevin’s knowledge of the latest hacking techniques to protect your business from attack.

Space is limited, so secure your registration today by visiting topsecurityshow.com, and if you use my promo code, FPPad, you’ll save 15% off the price of your registration.

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

Fidelity Launches Automated Investment Advice Service from WSJ.com

Fidelity Go Vs. Pokemon Go: Be A Low-Cost Investor Or AR Zombie from Investor’s Business Daily

Better Together: Automated Investing with Professional Guidance from BusinessWire

TD Ameritrade Earns $240M in Quarter; Says Retail Robo Is Coming from ThinkAdvisor

TD Ameritrade Institutional, XY Planning Network Launch Program to Cultivate Next-Generation RIAs and Investors from TD Ameritrade

Wells Fargo Plans to Start Robo-Advisory in 2017, Sloan Says from Bloomberg

Big News for the Quantopian Community: Managing External Capital from Quantopian

[Get ready for the robo news, as this week’s top stories come from Fidelity Investments and TD Ameritrade, as both financial institutions recently announced online investing solutions for the retail investor. A few days ago, Fidelity officially rolled out Fidelity Go, specifically targeting digitally savvy customers in their 20s, 30s, and 40s, with investment assets in the low six figures.

When asked by Investor’s Business Daily what happens when Fidelity Go customers get older and wealthier, Rich Compson, head of managed accounts at Fidelity, responded that customers would be referred “to other services like Fidelity’s Portfolio Advisory Services.”

Ok, ok, but advisors aren’t completely left out, as Fidelity did promise details about an automated service it’s developing for financial advisers by year-end. That’s, details, by year-end.

And a few weeks ago, TD Ameritrade announced it had completed updates to its Amerivest Managed Portfolios retail offering, including a digital overhaul for better goal setting, performance tracking, and more.

In ThinkAdvisor’s interview with incoming CEO Tim Hockey, he said that the company will be using Amerivest’s tech enhancements “to launch a new robo for the self-directed client’s needs” scheduled for sometime in 2017.

When asked about referrals to RIAs who custody with TD Ameritrade Institutional, Hockey added that retail clients with $1 million dollars or more are the “target referral” for affiliated RIAs.

That comment came out at the same time the company announced a program with the XY Planning Network to provide dedicated service and no minimum asset requirement to use TD Ameritrade Institutional’s custody services. That’s good, it’s gotta be awkward knowing TD Ameritrade is going to target digitally savvy investors, aka potential XYPN clients, with their own retail robo solution.

On top of all that, Wells Fargo also announced that it, too, is entering the robo market, with a solution expected also sometime in 2017.

And if you don’t like today’s current robo solutions, you can go build your own robo algorithm with Quantopian, who just received fresh venture capital this week from hedge fund investor Steve Cohen.

That’s it, all I hear all day long is how great robos do this, or how wonderful robos do that: robo, robo, robo!]

Envestnet | Tamarac to Roll Out Client Portal 2.0 from PRNewswire

[Now in NON-robo news, how about an update from Envestnet | Tamarac, as the company released the latest version of its client portal to advisors who use the Advisor View™ application. If you watched my coverage of the Envestnet Advisor Summit earlier this year, you would have seen a preview of the updated client portal, plus the key enhancements highlighted by Brandon Rembe. So click right here so you can watch that video.] Envestnet | Tamarac has completely redesigned the client portal in its Advisor View™ portfolio management and performance reporting application. The new client portal will be implemented as part of Tamarac’s July 2016 technology release, and seeks to help RIAs create highly customizable client portal experiences to engage their clients and appeal to the next generation of investors.

MoneyGuidePro creator releases DOL fiduciary-focused software from InvestmentNews.com

[Also, MoneyGuidePro recently released a utility called Best Interest Scout, intended to gather information about client goals, expectations, and investment details in one place. This should help you from a workflow perspective, but the tool should also be helpful in identifying when you must engage in a Best Interests Contract with a client. If you’re concerned about compliance with the pending fiduciary rule from the DoL, expect more tools like Best Interest Scout to come to market.] PIEtech, the creator of financial planning software MoneyGuidePro, has built a tool to see how well clients’ portfolios are aligned with their best interests, including retirement goals and concerns, insurance needs, and health-care costs.

Now since I took a few weeks off, I just don’t have time to cover all the stories in my backlog, including news on the talent exodus at Wealthfront, the Betterment for Business 401(k) offering surpassing 200 plan sponsors and $5 billion in AUM, Quovo, Riskalyze and more, so links to those stories are below:

Talent exodus hits Wealthfront including heads of product, marketing and operations from RIABiz.com

Wealthfront, founded in 2008, is experiencing its first big talent exodus — a flurry of departures that includes some C-suite titles and a Unicorn shepherd.

Betterment for Business Surpasses 200 Plan Sponsors from PRNewswire

Betterment for Business, the only turnkey 401(k) service that includes personalized investment advice for all participants, announced today that it has successfully added 200 plan sponsors to the platform in the last six months.

Betterment Becomes First Independent Robo-Advisor to Surpass $5B of Assets Under Management from PRNewswire

Betterment announced today that it is the first independent robo-advisor to reach $5 billion in assets under management. The company now helps more than 175,000 customers intelligently manage and grow their wealth.

Apex Clearing to Offer Vanare’s Digital Advice Platform from PRNewswire

Apex Clearing Corporation will begin offering to its broker dealer and RIA clients the ability to digitally manage investments using Vanare’s digital advice platform. Vanare offers a wealth management technology platform with a highly customizable white labeled Roboadvisor.

Advisor Software, Quovo Partner to Strengthen Goals-Based Planning Capabilities for Wealth Managers from PRNewswire

Advisor Software, Inc. has teamed up with Quovo to provide wealth managers with seamless access to aggregated client financial data, which can help put together an all-encompassing financial picture for every client.

Marstone and Quovo Announce Partnership from MarketWired.com

Marstone, an innovative digital wealth company, and Quovo, a financial data science company for the wealth management industry, today announced that they have completed a partnership to enhance Marstone’s digital wealth solutions with Quovo’s industry-leading data aggregation.

Riskalyze Autopilot for Retirement Plans from Riskalyze

LastPass introduces Emergency Access from LastPass

With the Emergency Access feature, you can give trusted family and friends access to your LastPass account in the event of an emergency or crisis.

Watch FPPad Bits and Bytes for July 29, 2016

FPPad Bits and Bytes for May 6, 2016

Posted on May 6, 2016 by Bill Winterberg 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

FPPad Bits and Bytes for April 29, 2016

Posted on April 29, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Redtail is the beneficiary of two announcements, MoneyGuidePro releases G4, and see the latest audio and video solutions to enhance your online content

So get ready, FPPad Bits and Bytes begins now!

(WatchFPPad Bits and Bytes on YouTube)

Today’s episode is brought to you by Kaleido, introducing their new flexible marketing services that turn your marketing plan into action.

Learn how Kaleido can help you implement the marketing projects you’ve been putting off by visiting fppad.com/kaleido.

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

Morningstar and Redtail Technology Announce Expanded Agreement, Adding Redtail’s Robust CRM Functionality to Morningstar Office for Financial Advisors from PRNewswire, and

Zapier integration with Redtail CRM is now available from Redtail Technology

[This week’s top story is a two-for-one about Redtail Technology, as the CRM provider was first mentioned by Morningstar as the company is further expanding its integration with the popular CRM for advisors. Two years ago, Redtail users started accessing Morningstar research and analytics directly in the CRM, and with the latest integration, users of both solutions can transfer data between the two systems, reducing the amount of manual data entry as well as synchronizing client and account data viewed in Redtail CRM.

The second story from Redtail is the announcement of a new integration with Zapier, a popular web automation application. The connection with Zapier means that Redtail users can use triggers in Redtail, such as a new activity or a new contact in the CRM, to create an action in another program, which includes over 500 popular services like Slack, Google Docs, MailChimp and many more.

Other providers, including Wealthbox CRM, have been hinting at soon-to-be-released integrations with Zapier and others for several months now.
So if you’ve been frustrated with the lack of direct integrations within your CRM, you’ll soon be able to build your own custom trigger and action workflows using apps like Zapier.] Redtail CRM is now available publicly in Zapier’s App Directory in beta version.

PIEtech, Inc. Releases 4th Generation of MoneyGuidePro – Helping Firms Deliver Higher Quality Plans in a Scalable Manner from PRWeb

[Next up is news from MoneyGuidePro, as the financial planning software provider officially released the fourth generation of its software, aptly named G4. Advisors will definitely notice an updated look and feel to the user interface, but G4 largely retains many of the core features present in the prior version, G3, such as the Play Zone, Social Security Maximization, and the What Are You Afraid Of? modules.

One of the more significant changes is the addition of five pre-built workflows called “conversations” which are used to streamline the creation of an initial financial plan. Advisors can complete the conversation data entry alone or together with clients in a meeting, or decide to grant clients access to an online portal where they enter data completely on their own.

The pre-built workflows limit the amount of data needed to create a plan so that the entire process isn’t overly tedious. With a preliminary plan created, advisors can then drill down into more specific areas of the plan.] PIEtech’s vision, “Everyone needs and deserves a quality financial plan,” has never been truer – for both advisors and clients. Today, PIEtech released the fourth generation of MoneyGuidePro® to help financial advisors develop and deliver quality financial plans on an unprecedented scale.

Watch the G4 video tutorial on the MoneyGuidePro website.

FPPad Coverage from the 2016 NAB Show on YouTube

[And finally, I want to wrap up this week’s broadcast with a heads up about the videos Steve and I made at the NAB Show last week. We featured the top video, audio, and technology gadgets, as well as whatever that thing is, from over 1,800 exhibitors that you can use to start making your own online content. You’ll learn about 360º cameras, wireless microphones, lighting, production resources and more that are all affordable and easy for you to use.]

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

Quovo and Vanare Partner to Help Financial Firms Provide Better Client Experience from PRNewswire

Advisors striving to improve the client experience by providing offerings tailored to their entire financial picture can now seamlessly aggregate their client’s data into a fully customized online wealth management platform.

Data Points Releases Its Behavioral Finance Assessment Platform from PRWeb

Data Points announced today the release of its Predicting Wealth™ platform, which provides the financial services industry a scientific way to identify clients with the highest potential for building wealth across all market segments. The platform delivers analytics on the financial behaviors of clients and predictive assessments to drive financial success.

United Capital Announces FinLife Partners: a White Label of Firm’s Integrated Advice, Investment Management, Technology and Coaching for Advisers from BusinessWire

Today, United Capital Financial Advisers, LLC (“United Capital”), a Financial Life Management firm, announces the launch of FinLife Partners, a turnkey advice and planning platform that allows independent advisers access to the firm’s proprietary Financial Life Management system, including adviser-branded client experience tools, digital workflow technology and personalized on-demand coaching.

SEC Warns More Cyber Enforcement Actions Coming from Nasdaq.com

The SEC has a long to-do list, but ensuring that advisors and other registrants are protecting clients’ sensitive information from cyber threats is right at the top, and more enforcement actions are expected.

PayPal leads $30 million round in Acorns investing app from TechCrunch

Acorns, the investing app, is announcing a $30 million strategic investment from PayPal, with participation from the Rakuten FinTech Fund. This brings the team’s total funding to $62 million.

Katch is shutting down May 4th from Katch

After 12 months of building the best way to save and discover mobile live streams, it is with great disappointment that we must announce that Katch will be shutting down.

Docupace Announces Independence from RCS Capital (RCAP) from BusinessWire

Docupace Technologies LLC, financial services’ premier digital compliance and cyber security company, announced today that it will pursue growth independently of investment from RCS Capital Corporation

Watch FPPad Bits and Bytes for April 29, 2016

FPPad Bits and Bytes for January 15

Posted on January 15, 2016 by Bill Winterberg in Bits & Bytes

On today’s broadcast, Jemstep gets acquired by Invesco, rumors fly about a Snapchat robo advisor, FutureAdvisor links up with its first bank, and more.

So get ready, FPPad Bits and Bytes begins now!

(WatchFPPad Bits and Bytes on YouTube)

Invesco acquires Jemstep, a market-leading provider of advisor-focused digital solutions from PRNewswire

[This week’s top story comes from Jemstep, as the B2B online investment platform was acquired by Invesco, the $800 billion dollar asset manager based a stone’s throw away from my studio right here in Atlanta.

Terms of the deal were not disclosed, Jemstep’s leadership will stay onboard to run the Invesco subsidiary, and for now, the company says there won’t be any changes to existing partnerships, custodians, or asset availability in model portfolios.

Ignoring B2C acquisitions of FutureAdvisor and LearnVest, the last twelve months have seen John Hancock acquire Guide Financial and Envestnet acquire Upside.

So who are the independent B2B providers left? I see Autopilot, Trizic, Oranj, Vanare, Betterment Institutional, Motif Investing, and to some extent, the roll-your-own open source platform from Wealthbot.] Invesco Ltd. has acquired Jemstep, a market-leading provider of advisor-focused digital solutions.

Social media firms make ETF push from Reuters

[But hold on! Sending shockwaves in the retail robo space is Snapchat, as rumors were flying this week that the ephemeral chat app might introduce it’s own investment service to its 100 million active daily users.

Uh, let me explain my thoughts in a brief demonstration… Get it, jump the shark?] Snapchat is understood to be at the front of a queue of tech firms developing Robo-Advisory technology – which uses algorithms to help users develop and implement customized investment strategies for retirement planning.

BBVA Compass Teams Up With Robo FutureAdvisor from Forbes

[But wait, there’s more! In its first move after being acquired by BlackRock, FutureAdvisor announced it is partnering with BBVA Compass to roll out the automated investment tools to the bank’s nearly 700 branches in the US.

Bank customers will get access to FutureAdvisors’ digital investment management for the standard fee of 50 basis points, and you can probably bet that new accounts opened up with be held with BBVA’s broker-dealer affiliate, which is how the bank capitalizes on the partnership.] BBVA Compass, the Sunbelt subsidiary of the Spanish banking giant, has announced it will partner with FutureAdvisor to offer its customers digital investment management, popularly known as Robo Advisors. It is the first major bank to sign on with FutureAdvisor since the advisory firm combined forces with BlackRock, the giant asset management company, last year.

Robo Adviser Wealthfront Begins to Offer Free Portfolio Reviews from WSJ.com

[And if you’re not sick of robos by now, let me add news from Wealthfront who this week released a free Portfolio Review service to show investors how bad their current portfolios are and urge them to save a boat load of money by switching to Wealthfront. Whoops, did I say that out loud?

This concept is nothing new, as Personal Capital has offered a similar portfolio analyzer since 2011, and FeeX has been doing it since 2012, but here’s the deal. These VC-backed companies are spending tons of money to target your clients and prospects to get them to try out this tool, and of course, they’re going to tell clients they have suboptimal allocations and are paying high fees to their advisor.

So, expect clients to bring up fees, allocations, and performance in your next meeting, and you need to have a strong answer in the form of your value proposition, which is all the added advice, guidance, and behavior management you deliver that the automated services are incapable of providing.] In a bid to attract more assets, Wealthfront Inc. is joining other robo advisers in providing free advice to investors about their accounts at other financial institutions.

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

New Laserfiche Release Aims to Improve ECM from CMSWire

Laserfiche just released version 10 of its enterprise content management system (ECM). Speaking at the Laserfiche Empower 2016 Conference in Long Beach, Calif., Laserfiche President Karl Chan said the new version is designed to supercharge content-driven business processes, enabling enterprises to redesign the flow of information throughout the enterprise.

LastPass Revamps Its Interface, Adds Emergency Access and Better Sharing from Lifehacker

LastPass is one of the best password managers around. Today it gets a bit better with an improved interface and a handful of new features.

Dashlane 4 Makes Changing Passwords on Hacked Sites Easier, Adds a New Interface, and More from Lifehacker

Dashlane is one of our favorite password managers, and today the service updated with a new, consistent interface across all devices, an updated “password changer” that lets you change passwords on a site without even visiting it, new languages, and more.

Watch FPPad Bits and Bytes for January 15, 2016

Between Sessions with Vanare at T3 Enterprise 2015

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

I met with Lex Sokolin, COO of Vanare, between sessions at T3 Enterprise 2015 to dive into the details of what he discussed during his general session presentation at the conference.

Sokolin asked the audience at T3 Enterprise to suspend disbelief and consider the emerging trends that have the potential to reinvent the wealth management industry.

Sokolin mentioned wearable computing, image recognition, natural language processing, digitization of money and securities (and the emergence of the blockchain), crowdfunding and peer-to-peer lending, and open-source software.

“But at the end of the day,” Sokolin advised, “you still need a real connection between an advisor and a client to yield meaningful change.”

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