Written by Mike Byrnes, Financial Advisor Magazine Friday, 27 April 2012
The outlook for technology and its impact on the financial services industry may have been the most earth-shaking development at the FPA's Business Solutions Conference in San Francisco—even more so than the two minor earthquakes that hit the city on Monday.
About 350 advisors, speakers and exhibitors attended the Financial Planning Association's conference. While most apparently slept through the earthquakes, they did take note of the technology developments that are shaking up the financial industry. Speakers focused on how technology can improve the client experience and make businesses more profitable.
Here are some of the highlights:
1. Increased memory capacity and the cloud. Spenser Segal, CEO of ActiFi Inc., said not to worry too much about the space it takes to save things online. Storage costs are 1/150th of what they were 25 years ago and that trend will likely continue in the coming years, he said. Cloud-based computing will significantly impact the way data is stored, he added. Read More..
Written by Brooke Southall, RIABiz Friday, 06 April 2012
Following the lead of Pershing LLC and Fidelity Investments but ahead of Schwab Advisor Services, TD Ameritrade Institutional is making it possible for advisors to place trades for mutual funds, ETFs and equities from chairlifts and hotel lobbies using iPads. See: Fidelity releases WealthCentral Mobile for the iPhone.
The Jersey City, N.J.-based custodian is also making other features of its Veo advisor platform available on the Apple tablet computer including consolidated and single client account views, as well as live streaming CNBC coverage. See: TD Ameritrade’s technology, Veo, wins high praise from advisors so RIABiz took a look.
“We thought the iPad, more so than mobile apps, [is important] so [advisors] can present [information] to clients. Mobile is hard to use to present to clients,” says Jon Patullo, managing director of technology product management for TD Ameritrade Institutional. Read More..
Written by Davis D. Janowski, InvestmentNews Friday, 30 March 2012
Six-year-old Scottrade Advisor Services has hit a milestone: 1,000 registered investment advisory firms now use its custody services.
Built on the promise of low fees for smaller financial advisers and breakaway brokers, its leaders think that its next growth phase will be driven by technology. To get the ball rolling, it has just completed the first of several integrations with third-party providers.
The integration involved financial planning software MoneyGuidePro from PIE Technologies Inc., which was a natural place to start, given that financial planning tools top the list of tech requests in survey after survey of advisers.
Advisers who use the custody services of Scottrade will be able to get the software at a significant discount, though no formal pricing announcement has been made. Read More..
Written by Andrew Gluck, Advisors4Advisors Friday, 30 March 2012
In 1974, rock critic Jon Landau, writing in Rolling Stone, said: "I've seen the future of rock 'n roll and its name is Bruce Springsteen." Well, I’ve seen the future of professional wealth management software and its name is inStream Solutions.
If Advisors4Advisors gave an award to the most innovative advisor application of the year, inStream would get it. In fact, inStream would win the Advisors4Advisors award as the most innovative professional wealth management software of the past decade.
inStream was developed by Alex Murguia. Murguia came to McLean Asset Management in 2001 right after completing his Ph.D. in psychology. His wife's father founded McLean. Murguia has taken the firm from $25 million of assets under management to $550 million today. Murguia is a visionary. Read More..
Why RIAs are shunning mobile apps and why Black Diamond, Orion, Fidelity and others are still placing their chips on an iPad future
Written by Lisa Shidler, RIABiz Friday, 30 March 2012
Despite the worldwide craze for mobile apps, RIAs are proving resistant to their lure.
“I think we’re in the middle of this major shift to mobile apps and I think advisors are a little late to the game in regards to taking advantage of this shift and realizing how to position their firm,” says Eric Clarke, president of Orion Advisor Services LLC. See: How Orion Advisor Services became a mobile device pioneer and how competitors plan to react.
Its not for lack of trying on the part of custodians and fund companies, both of which are rapidly introducing apps on a daily basis for advisors. In fact, just last week, online RIA Personal Capital and Franklin Templeton Investments launched iPad apps. Read More..
- Tech Survey By A4A Shows Schwab PortfolioCenter Remains No. 1 Portfolio Reporting App But Field Of PMS Vendors Is Growing
- Financial Planning Software Usage By Independent Financial Advisors; Results Of A Survey Of 2,019 Independent Advisors Shows MoneyGuide Pro Is No. 1
- Finding errors in PortfolioCenter
- 14 Reasons Why Start-Up Advisor Technology May or May Not Be Worth the Risk
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