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The Top 10 Technology Trends for Financial Advisors, Pt. 2: Increasing Technological Capability
Written by Spenser Segal, ActiFi Friday, 27 April 2012
As we discussed in our introductory post, the Top 10 Technology Trends for advisors and their partners can be divided into three categories. The first of those, “Computing, Storage and Mobility,” encompasses trends one, Increasing Technology Capability and two, Mobility.
The two macro trends within this fundamental category affect everyone and every industry. They are not specific to the advisory space; they cut across both consumer and business IT.
The first trend, Increasing Technological Capability, underpins all the other trends that we’ll discuss in future posts. The concept of increasing technological capability covers a lot of territory and includes cheaper/faster storage, increasing processing power and increasing bandwidth/wireless speeds. Read More..
Advisors Must Shift LinkedIn to the Top of Their Social Media Strategy
Written by Donna Mitchell, Financial Planning Magazine Friday, 27 April 2012
Advisors who want to connect with their peers and expand their businesses should create blogs and LinkedIn profiles, then master the compliance rules needed to run those accounts effectively, said speakers at the Women Advisors Forum in New York on Thursday.
The numbers are compelling, as 61% of advisors using a LinkedIn account said they have acquired a client through it, says Marie Swift, president and CEO of Impact Communications, citing a Hubspot 2011 survey of 611 advisors. Also, 47% of advisors using a blog said they had acquired a client through it.
“When we think back 10 years ago, the thought was: ‘What is the use of a Web site?’” says Swift, who is also a regular blogger for Financial Planning. “When we look back, social media will be the norm. It’s the way the way we’ll communicate and connect.” Read More..
Tech Tools: Target Engaged
Written by Joel Bruckenstein, Financial Planning Magazine Friday, 27 April 2012
One of the themes of February's Technology Tools for Today Conference was a lack of advisor efficiency. Balance Financial's new software for advisors is designed to alleviate this very problem. In many ways, it does, though a close look shows the product is still rough around the edges.
Balance Financial Professional Suite is a web-based software platform that "helps CPAs, bookkeepers and financial advisors better service and engage with their clients," according to Devin Miller, the company's chief executive. It provides a suite of tools, including account aggregation, a client portal, custom reporting, full-featured bill payment, "bank-level security" and mobile apps.
Balance Financial's software was released about three years ago; its management team consists of several seasoned technology professionals. Miller is no stranger to financial services, and a number of team members have worked at Microsoft. Read More..
Tech Tools: App Innovation
Written by Joel Bruckenstein, Financial Planning Magazine Friday, 27 April 2012
SunGard hasn't yet targeted the RIA space, and they haven't been very innovative. But that's about to change.
SunGard is one of the world's leading software and technology services companies - a little fact that would surprise those who only know SunGard from the independent RIA world. It has a big footprint in financial services, providing such tech services as disaster recovery, managed IT, information availability consulting and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company, and was ranked 434th last year on the Fortune 500.
So why hasn't SunGard been successful in the independent RIA space? Two reasons: They haven't targeted the RIA space and, in recent years, they have not been very innovative. But that's about to change. The company's soon-to-be-released WealthStation Mobile Meeting application is impressive. The application is currently marketed as a supplement to WealthStation, although it is capable of working with data from other systems. Even if you do not use WealthStation, SunGard's new offer is instructive because it differs from the way many competitors approach iPad apps. Some may find this approach superior. Read More..
thinkpipes® trading now integrated in TD Ameritrade Institutional’s Veo® adviser platform
Written by Bill Winterberg, FPPad Friday, 27 April 2012
In a press release today, TD Ameritrade Institutional announced that it has integrated thinkpipes®, an advanced trading platform based on thinkorswim technology, into the Veo® adviser platform.
“thinkpipes is much more than a trading platform and has truly become one of the most powerful tools that we leverage day-to-day” said Donald Capone, CFA, portfolio manager at JK Financial, Inc., in the press release. “If it’s being traded on the market, I no longer have to use multiple sources for historical data or quotes. It’s all right there at your fingertips in thinkpipes.” Read More..
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