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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.

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FPPad Bits and Bytes for December 30

Posted on December 30, 2011 by in Bits & Bytes

Happy New Year!

Here is this week’s story of interest:

Early adopters of social media, RIAs are growing disenchanted with its power to drum up new business from RIABiz.com

[I said it on Twitter and I’ll repeat it here: advisers looking for a quick score on social media should look elsewhere. Social media is an extension of brand awareness and relationship building that firms have been doing for decades.] Registered investment advisors have embraced the world of social media earlier and with more zeal than their competitors in the last couple of years. But as a result, they are more quickly discovering its limitations.

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FPPad Bits and Bytes for December 23

Posted on December 23, 2011 by in Bits & Bytes

I hope you and yours have a wonderful holiday. Here are this week’s stories of interest:

How Black Diamond is faring as a unit of Advent Software from RIABiz.com

[So if you’re a disgruntled adviser on Advent’s legacy software, which new provider are you going to consider? Now that Advent owns Black Diamond, it seems like a no-brainer that advisers will make the transition to the web-based solution with little or no transition cost.] Since the Jacksonville, Fla.-based up-and-comer in portfolio accounting software was purchased back in early June by the San Francisco-based market leader, it has increased the number of advisory practices it serves to 330 from 270, an increase of about 22%.

TD to work on workflows for third-party technology partners from InvestmentNews.com

[This is a good, mid-week submission from Davis Janowski about TD Ameritrade’s efforts to provide sample workflows to advisors using Veo Open Access.] TD Ameritrade Institutional has completed an agreement with technology consultancy Actifi Inc. to help it build automated workflows for TD’s Veo Open Access platform.

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How you can get RescueTime Solo Pro for 50% off

Posted on December 21, 2011 by in Efficiency

RescueTime is one of the productivity tools I personally use and recommend to others. I’ve covered it in the past and walk advisers through ways RescueTime can be used to track time spent on client activities in my Transformative Technology presentation.

Now through January 6th, you can sign up for one year of RescueTime for $36, a savings of 50%. You get a great deal on time tracking software, and in return, I receive six months of additional credit in my account.

To get your discount, click the following referral link: http://rescuetime.com/ref/199017

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Fidelity WealthCentral Mobile now available for iPad

Posted on December 19, 2011 by in Technology

In February this year, Fidelity released its WealthCentral Mobile app for iPhone and iPod touch. Ever since, advisers have been eager for an iPad app that fully utilizes the larger screen of the popular tablet.

Today, the Fidelity WealthCentral app is now available for iPad.

Click here to view the app in the Apple app store.

You can view several screenshots of the app’s features in the store listing.

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FPPad Bits and Bytes for December 16

Posted on December 16, 2011 by in Bits & Bytes

I’m on an extended holiday break now through the end of the year, but I’ll be sure to keep you up to date with the best stories in financial planning technology.

So here are this week’s stories of interest:

How Orion won the account of a $2-billion RIA from Advent after two very long drives across the prairie from RIABiz.com

[I have to hand it to Brooke, he managed to weave in an appealing story about driving across the Midwestern plains into a feature of Orion Advisor Services.] Orion’s announcement last week that it has supplanted Advent Software for the private client assets of Mariner Wealth Advisors, a firm that manages about $10 billion of assets, was four years, and two multi-state car rides, in the making.

InvestmentNews Technology Directory to make its debut this week from InvestmentNews.com

[This could be a promising new resource for advisers seeking information on the various technology vendors out there.] After a great deal of effort and teamwork, the InvestmentNews Technology Directory was introduced online Wednesday. The directory features detailed profiles of products designed for the advisory community. It already has more than 100 listed.

SROIIA Launches State Web Tool in Anticipation of ‘Switch’ from AdvisorOne.com

[SROIIA’s web tool is a nice way to quickly check the disorganized state registration requirements for investment advisers.] The Self-Regulatory Organization for Independent Investment Advisers, which was founded by two University of Mississippi School of Law students last March, announced Wednesday that it had created a web tool to help advisors wade through the registration requirements for each state.

Fidelity’s New Benchmarking Dashboards Help RIAs See How They Stack Up from Financial-Planning.com

[If you’re familiar with the dashboard reports from Quantuvis Consulting (Stephanie Bogan’s firm), you’ll recognize the data in Fidelity’s new tool.] Here’s one way RIA firms can measure their firms’ success: they can see everything from where their revenue is coming from to total assets under management —benchmarked to other firms — the same way you’d look at dials on a car dashboard.

 

 

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Now at Morningstar Advisor: 2011’s Best Tech for Advisers

Posted on December 7, 2011 by in Technology

One of the best things I get to do is write the annual Morningstar Advisor Best Tech for Advisers column. I get to reflect on all the new tools, products, and software to which I’ve been introduced over the last 12 months, and choose a select few for consideration for best technology targeted to financial advisers.

As I did last year, I awarded the best in tech among three categories: Best Back-Office Technology, Best Client-Facing Technology, and Innovation of the Year.

Click on over to Morningstar Advisor and read the full column.

Enjoy!

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