Blog Entries in Technology

Blog Entries in Technology

Stress Testing – Holistic Planning should consider both Micro and Macro

By Jeff Baker, HiddenLevers on Tuesday, September 22nd, 2015

Jeff Baker, HiddenLevers

Stress testing used to be reserved for large banks and top tier asset managers. Now advisors are turning to stress testing to differentiate themselves against a backdrop of increasing commoditization in the asset management industry. Today, holistic planners need to provide..Read More »

If Only Managing Technology Were This Easy…

By Susan Glover, President, Susan Glover & Associates, LLC on Wednesday, September 16th, 2015

Susan Glover, President, Susan Glover & Associates, LLC

You’ve probably heard them many times. One-liners about how easy managing technology is, or could be, if only you...Read More »

What Can RIAs Expect from a System Conversion - Part 3

By Joan Walker, Managing Director, UNAPEN on Thursday, August 27th, 2015

Joan Walker, Managing Director, UNAPEN

When last we left off, I had posed the question “What is the top priority of any relationship?” Have you ever been to a company workshop? Have you ever been to a team building exercise? Have you ever watched Dr. Phil? The answer is COMMUNICATION! Without it your company will be dead in the water...Read More »

Educating Clients About Cyber Security Should Be Part of Your Role As an RIA

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

As more clients become aware of cyber security risks, there will be a greater demand for investment advisors who have already established best practices to keep their clients safe and who take the time to educate their clients...Read More »

The Final Hurdle in the Challenge of Going Paperless

By Sheryl Rowling, CEO, Total Rebalance Expert on Thursday, August 6th, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

It all started a couple of months ago: I wanted to completely eliminate paper in my office. The final obstacle was the yellow pad. For those who read my previous article on this subject...Read More »

How high-tech is your firm?

By Sheryl Rowling, CEO, Total Rebalance Expert on Thursday, July 23rd, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

Is there a limit to the number of high-tech tools we can use in our firms? Or are we trying to automate more than we should?..Read More »

Great Technology Advice Takes a Gentle Touch

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

Registered investment advisors helping their clients with technology should make sure to use a gentle hand to have the maximum impact...Read More »

Why Conversions Fail

Susan Glover, President, Susan Glover & Associates, LLC

I have been involved in many conversions and have seen many changes throughout the years – especially with technology. But there is one thing that has changed very little – why conversions fail...Read More »

What Can RIAs Expect from a System Conversion – Part 2

By Joan Walker, Managing Director, UNAPEN on Tuesday, June 30th, 2015

Joan Walker, Managing Director, UNAPEN

When we last left off, we had determined that signing a contract is the beginning of the process, not the end. We also learned our first lesson – your firm needs to have knowledgeable and empowered people as part of the conversion project team, but what does this mean?..Read More »

What Can RIAs Expect from a System Conversion? – Part 1

By Joan Walker, Managing Director, UNAPEN on Thursday, June 18th, 2015

Joan Walker, Managing Director, UNAPEN

Your wealth management firm has just spent months looking into new systems, narrowing the field of options, negotiating terms and agreements and finally you are at the end of the process. You have chosen a new system! Congratulations, you’re done, you can leave it in the vendor’s hands to bring in the new system and all will be right with the world. WRONG – this is only the beginning, let’s see why...Read More »

The Challenge of Becoming Paperless

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, June 17th, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

I frequently refer to my firm as a paperless office. All documents are stored online or PDF'ed on our CRM system. Tax returns are filed electronically. We receive clients' documents through our secure link. Yet we still purchase yellow pads...Read More »

Five Reasons Your Company Should Develop a Cyber Security Strategy Now

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

From a billion-dollar bank heist to massive leaks of private information, the headlines are littered with reasons why cybersecurity strategies are more important than ever...Read More »

When considering a new technology purchase, advisers tend to look at costs rather than benefits. That's risky.

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, May 20th, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

When considering a new technology purchase, advisers tend to look at costs rather than benefits. In other words, technology dollars are considered an expense rather than an investment...Read More »

Wearable Tech Goes Mainstream

Mike Barad, Head of Product Services & Components, Morningstar

Wearable technology is the blending of advanced electronics, sensors, and computing power into clothing or accessories that can be worn on the body..Read More »

Bob Veres Take on Robos at the FPANJ

By Bill McGuire, Principal, W.M.McGuire, LLC on Monday, May 11th, 2015

Bill McGuire, Principal, W.M.McGuire, LLC

As the FPANJ keynote presenter, Bob Veres, publisher of Inside Information, provides his insight on the Robo Advisor challenge and opportunity...Read More »

Danger, Will Robinson! Where Robo-Advisors Are at a Disadvantage

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

Whenever I hear the term robot, I always imagine the mechanical member of the crew from the old television series Lost In Space..Read More »

Robo-Advisors: Pros, Cons, and How Human Advisors Can Adapt

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

Robo-advisors are complex computer systems that can review analytics and make financial recommendations based on current trends and on the personal preferences of an investor. Investment companies such as Vanguard have already spent millions on the development of this automated investment solution, and it’s likely that as millennials get older and become more active investors, the service will increase in popularity...Read More »

Benefit Your Firm and Your Clients

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, February 25th, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

How many advisors are missing out on easily added new AUM with an opportunity to provide better service to clients? Managing outside accounts, like 401(k)s, can do both!..Read More »

Disaster Recovery: Compliance with SEC Guidelines

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

Nothing is as potentially disastrous as having no plan to shield your business from an unexpected emergency. A plan to safeguard business data is critical, and readily available through backup, storage and some advance planning for quick recovery after a calamity, whether natural or manmade. The blood, sweat and tears that go into establishing a business could be in vain if that business lacks a plan for disaster recovery...Read More »

Windows 10 – The Desktop is Back!

By David Gemma, Chief Marketing Officer, UNAPEN, Inc. on Tuesday, January 27th, 2015

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

In April 2015, Microsoft is expected to provide an official release date; the current expectation is sometime late in 2015...Read More »

Trends and Advice for 2015: Sue Glover

By Susan Glover, President, Susan Glover & Associates, LLC on Wednesday, January 21st, 2015

Susan Glover, President, Susan Glover & Associates, LLC

Fear of cloud technology is easing as advisors, technology tools that provide added-value to clients are gaining traction, and increasing number of technology choices available to advisors some of the trends that Sue Glover sees for 2015...Read More »

Trends and Advice for 2015: Sheryl Rowling

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, January 14th, 2015

Sheryl Rowling, CEO, Total Rebalance Expert

As clients are becoming more knowledgeable about tax implications of their investments and more sensitive to tax costs, they are beginning to demand a higher level of service in this area. As a result, I’ve witnessed a greater number of advisors seeking to apply tax saving strategies to their portfolio management services..Read More »

Trends in 2015 All Advisors Should Know

By Jud Mackrill, Orion Advisor Services on Thursday, January 8th, 2015

Jud Mackrill, Orion Advisor Services

Portfolio accounting software moved forward in 2014 in putting a larger emphasis on the user experience and design. This portion of the industry has typically been focused on the function of software and not on its form, but as business becomes increasingly aware that good design yields better experience, portfolio accounting software providers have followed suit...Read More »

Best of Blogs: Technology

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Tuesday, December 30th, 2014

Cynthia Stephens, VP of Marketing, ByAllAccounts

Read insightful technology trends and best practices from ByAllAccounts blog contributors..Read More »

How High-Performing Firms View and Use Technology

By Bill McGuire, Principal, W.M.McGuire, LLC on Tuesday, December 16th, 2014

Bill McGuire, Principal, W.M.McGuire, LLC

As the summer winds down, the fall and winter conference season heats up. The value attending the right conference can be invaluable from an educational, strategic and networking perspective...Read More »

Internet Security for Family Offices: 10 Steps to Protect Online Information

Dennis Mangalindan, VP, Sales & Marketing, Archway Technology Partners, Inc.

More than 552 million identities were exposed in data breaches during 20131. According to Symantec’s Internet Security Threat 2014 report: “Attackers will often use both the personal and professional accounts of the individual targeted, although statistically the victim’s work-related account is more likely to be targeted.”..Read More »

Using technology to change clients who don't want to know anything

By Sheryl Rowling, CEO, Total Rebalance Expert on Tuesday, December 2nd, 2014

Sheryl Rowling, CEO, Total Rebalance Expert

There are three types of clients: Those who want to know every detail (aka engineers!); those who want to know the basics and those who don't want to know anything...Read More »

Why is a local IT provider perceived as so important?

By Ken Rode, Director of IT, UNAPEN, INC. on Thursday, November 20th, 2014

Ken Rode, Director of IT, UNAPEN, INC.

One of the biggest factors is the belief that if there is a problem that can’t be solved remotely, your IT provider can be there to fix it quickly. However, with the advent of Managed Services, including remote access in recent years, this has become much less critical and providers using the proper tools can actually respond faster remotely than they could if required to be on site...Read More »

CryptoWall Malware Lurking on Major Websites

By David Gemma, Chief Marketing Officer, UNAPEN, Inc. on Wednesday, November 12th, 2014

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

Yet another major case of “malvertising” has been reported. This is nothing new (a famous case occurred on the NY times web site over 5 years ago). This sort of hacker attack works by going after the companies who serve up advertisements to sites such as newspapers, fantasy sport sites, yahoo, msn, match.com, etc. If your browser plugins are not up to date, simply opening a page that is showing one of these infected ads can automatically infect your computer...Read More »

Don’t Just Attend a Technology Conference – Invest in It!

By Susan Glover, President, Susan Glover & Associates, LLC on Wednesday, October 22nd, 2014

Susan Glover, President, Susan Glover & Associates, LLC

With so many conference choices from vendors, custodians, and user groups, you probably have one on your calendar or plan to sign up for one. Whether it’s a technology conference or a conference that showcases technology, you probably look forward to learning about new software and other tools that boast a high ROI...Read More »

Is Outsourcing IT Services the Answer to Saving Money?

By David Gemma, Chief Marketing Officer, UNAPEN, Inc. on Wednesday, October 8th, 2014

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

With so much focus on reducing costs and increasing profits, many small to medium sized businesses are looking at ways they can achieve the highest profitability...Read More »

Are You Able To Withstand OCIE Cyber Security Initiative Scrutiny? Eight Quick Tips for Compliance

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

The OCIE Cybersecurity Initiative scrutinizes a person's cyber security risk evaluation, threat detection, protective measures, and response plans to cyber attacks. There's more than one kind of inspection or examination a person could face from the OCIE: these include a standard examination assessing overall security practices and a close inspection of the firm following a particular problem...Read More »

What is Involved in an IT Security Audit?

Carlos Coutin, Financial Services Technology Strategist, Envision Consulting

Companies are increasingly foregoing IT security audits, with the belief that these audits are unnecessary. But neglecting security audits can be suicide for a business. Just one breach can cost millions of dollars, leak valuable corporate information, or destroy the reputation of a company. There are many advisors that volunteer, give back to their community and use their skills and talents to become board members for not-for-profits, foundations or endowments...Read More »

ByAllAccounts Reseller Spotlight Series: Archway Technology Partners

By ByAllAccounts Reseller Spotlight Series on Thursday, September 4th, 2014

ByAllAccounts Reseller Spotlight Series

Archway provides an enterprise Web-deployed solution called ATWeb that supports the accounting, investment management and reporting functions for single and multi-family offices, investment advisors and hedge funds. The software platform integrates a full general ledger with a portfolio management system to support portfolio, fund and partnership accounting...Read More »

Do you know ByAllAccounts Aggregation Solution?

Don McHenry, Technical Relationship Manager, ByAllAccounts

Are you already using ByAllAccounts Aggregation Solution? During this webinar, you’ll learn more about Getting Started; Data Connectivity; How we deliver data; Security & Privacy. On Wednesday, September 10th 1:00PM EST, ByAllAccounts will be hosting a webinar on ByAllAccounts Aggregation Solution...Read More »

Technology Decisions That Drive Your Staff Crazy

Susan Glover, President, Susan Glover & Associates, LLC

While assessing an advisory firm’s technology needs, I was told to “push the envelope” with Excel’s capabilities so the firm didn’t have to invest in other software. As a consultant, it was not difficult for me to respond. As an employee, I may not have had the opportunity to respond...Read More »

ByAllAccounts Aggregation Solution

Don McHenry, Technical Relationship Manager, ByAllAccounts

Are you already using ByAllAccounts Aggregation Solution? During this webinar, you’ll learn more about Getting Started; Data Connectivity; How we deliver data; Security & Privacy...Read More »

Location Optimization

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, August 13th, 2014

Sheryl Rowling, CEO, Total Rebalance Expert

In this article, I'm going to discuss location optimization. Location optimization, once you understand it, can be a great tool to save your clients tax dollars while differentiating yourself from the competition...Read More »

ByAllAccounts Reseller Spotlight Series: Interactive Advisory Software LLC

By ByAllAccounts Reseller Spotlight Series on Thursday, August 7th, 2014

ByAllAccounts Reseller Spotlight Series

Interactive Advisory Software is the industry’s leading wealth management software company, serving the specific needs of independent financial advisors and broker/dealers nationwide. Since our founding in 2001, the motivation behind our “one solution” technology platform has been to help our customers manage and grow their businesses with minimum hassle and maximum efficiency...Read More »

ByAllAccounts Reseller Spotlight Series: Redtail Technology

By ByAllAccounts Reseller Spotlight Series on Wednesday, July 2nd, 2014

ByAllAccounts Reseller Spotlight Series

Redtail CRM is a comprehensive CRM that allows advisors to see the whole picture with their client. The Integration with ByAllAccounts allows an advisor to have an accurate view of their client and their accounts. By having the aggregated data within the CRM, they now can use that data to identify opportunities, set up marketing groups and much more...Read More »

Are you ready for a blizzard this summer?

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

When it’s cold outside and snow is all around us we are more likely to think about the potential for some sort of disruption to our business. We are more likely to pay attention to the weather forecast and wonder if we will lose power. We are more likely to consider if we will be trying to work from home because roads are not passable...Read More »

Year-End Means Thanksgiving & Other Useful Tips

Susan Glover, President, Susan Glover & Associates, LLC

As we enter the second half of the year, you will look at this year’s goals and to-do list and wonder if you’re halfway there...Read More »

The Robo Advisor Market

By ByAllAccounts, Podcast Series on Wednesday, June 18th, 2014

ByAllAccounts, Podcast Series

At the end of last month ByAllAccounts hosted a webinar on what can be learned from robo-advisors and how you can grow your firm in a changing market. In the following podcast, you can hear an excerpt from the webinar in which Raef Lee, Managing Director at SEI Advisor Network outlines the robo-advisor market...Read More »

The Robo Advisor Landscape

By ByAllAccounts, Podcast Series on Tuesday, June 10th, 2014

ByAllAccounts, Podcast Series

At the end of last month ByAllAccounts hosted a webinar on what can be learned from robo-advisors and how you can grow your firm in a changing market. In the following podcast, you can hear an excerpt from the webinar in which Raef Lee, Managing Director at SEI Advisor Network outlines the robo-advisor landscape...Read More »

What Millennials Are Looking for in an Advisor: How to Appeal to Young Investors

Don McHenry, Technical Relationship Manager, ByAllAccounts

I am a member of Generation Y (born roughly between 1980-2000), also referred to as the Millennial generation. Like many of my peers I have grown up in the age of information, where all of our needs are just a Google search away...Read More »

ByAllAccounts Reseller Spotlight Series: Orion Advisor Services, LLC

By ByAllAccounts Reseller Spotlight Series on Tuesday, May 20th, 2014

ByAllAccounts Reseller Spotlight Series

Orion Advisor Services, LLC (“Orion”), is the premier portfolio accounting service provider for advisors. The firm has unique insights into the advisory profession because it was founded for investment advisors by an investment advisor in 1999. Orion frees advisors from back-office tedium so they can enjoy their business again by devoting their time and energy to better serving clients...Read More »

How Wealthy Families are Using Text Messaging and Portals to Communicate

Cynthia Stephens, VP of Marketing, ByAllAccounts

How many of us regularly send text messages? We are all active users of mobile devices including iPads, other tablets and Smartphones. Our clients are too. In fact it is common for people to use more than one device for an activity (i.e., multi-screens) such as checking a bank balance on a Smartphone and then switching to a larger-screen tablet to make a transfer between accounts...Read More »

Learn more about ByAllAccounts data connectivity [podcast]

By ByAllAccounts, Podcast Series on Thursday, May 1st, 2014

ByAllAccounts, Podcast Series

ByAllAccounts provides connectivity to thousands of Financial Institutions (e.g., Fidelity) and data sources (e.g., Fidelity Net Benefits). We add one or more new direct feed sources each month and one or more other sources each day...Read More »

ByAllAccounts Reseller Spotlight Series: Blueleaf

By ByAllAccounts Reseller Spotlight Series on Monday, April 28th, 2014

ByAllAccounts Reseller Spotlight Series

Blueleaf is a financial advisor's ultimate client engagement platform. Blueleaf equips advisors with the tools needed to keep clients informed and engaged all year long, automatically. Our intuitive client portal includes deeply embedded account aggregation, simplified performance reporting, automated client communication and sophisticated engagement tracking, document sharing and billing...Read More »

The Essentials of Google Analytics for Financial Blogging

By Sara Ruthnum, AdvisorWebsites.com on Thursday, April 24th, 2014

Sara Ruthnum, AdvisorWebsites.com

The modern marketer is one part artist and one part scientist. Not only do you have to be creative, engaging the senses of your web traffic, but also you have to remember the numbers – measuring the successes (or failures) of your marketing strategies. Taking a look at the numbers, from the successful blog posts, to your most successful tweets, will help you determine what works and what doesn’t...Read More »

Business Intelligence: A process? A product? Both?

By David Gemma, Chief Marketing Officer, UNAPEN, Inc. on Wednesday, April 23rd, 2014

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

Business Intelligence (BI) has been a buzz word in the industry for quite some time now. But several questions remain: What is BI? How do you achieve BI? And most importantly, how does BI translate into actually helping your business retain clients and grow into the future?..Read More »

And the Definition of Obsolete Technology is…

Susan Glover, President, Susan Glover & Associates, LLC

While attending a technology seminar, the speaker mentioned “obsolete technology” several times during the presentation. At its conclusion, I asked what the definition of “obsolete technology” is. The answer? “That’s a very good question.”..Read More »

How to Get Started Creating (or improving) your Advisor Workflows

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Tuesday, April 15th, 2014

Cynthia Stephens, VP of Marketing, ByAllAccounts

During February SEI, Redtail Technology, ActiFi, and MoneyGuidePro announced an advisor workflow partnership. Workflows from a CRM system, a financial planning tool, and a custodial platform have been fully integrated with one another. Workflow, according to MoneyGuidePro’s Kevin Hughes, is a hot topic. After all, who among us doesn’t want to improve operational efficiency and spend more time on the higher-value-add activities?..Read More »

5 Ways Robo-advisors Will Change the Way Advisors Work

By Raef Lee, Managing Director, SEI Advisor Network on Wednesday, April 2nd, 2014

Raef Lee, Managing Director, SEI Advisor Network

Even the name robo-advisor is derisive. It creates an image of uncaring, lack of humanity and inflexibility. It is the term that is now being broadly used by advisors to describe the new breed of technical startups (upstarts) that directly connect a technical-savvy investor with a suite of analytic tools that allow them to create their own financial plan or investment portfolio. A name this disparaging shows that advisors have some fear of this new model of financial advice...Read More »

The surprising hidden value of automation

By Sheryl Rowling, CEO, Total Rebalance Expert on Wednesday, March 5th, 2014

Sheryl Rowling, CEO, Total Rebalance Expert

Software can add efficiency and reduce personnel hours. Everyone knows that. But there are other significant savings to be gained from automation. In fact, these hidden savings may very well outweigh the obvious benefits...Read More »

What data sources information do you need to get started with account aggregation?

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Thursday, February 27th, 2014

Cynthia Stephens, VP of Marketing, ByAllAccounts

As I speak with advisors, I find many who have made the business decision to begin using account aggregation to gather and report on outside assets. I would guess that most are already familiar with the benefits of aggregation. Some of these advisors, however, are hesitant to get started because they don’t know what information is going to be needed and don’t want to ask their clients for it. Today I’m going to lay out what you’ll need to know and how to gather it...Read More »

Want to learn more about ByAllAccounts? Visit us this week at the TD Ameritrade National Conference

By Lindsey Starr, Marketing Coordinator, ByAllAccounts on Tuesday, January 28th, 2014

In a recent Investment News article Sheryl Rowling, Principal of Rowling & Associates, said “ByAllAccounts helps capture 401(k) and other similar assets without banging the door down." Want to learn more about how we help advisors like Sheryl? Visit us in the VEO Integration area at this year’s TD Ameritrade National Conference...Read More »

Information Needs to be More Than Intelligent

By Susan Glover, President, Susan Glover & Associates, LLC on Wednesday, January 15th, 2014

Susan Glover, President, Susan Glover & Associates, LLC

When it comes to technology, advisors seem to thrive on the latest trend and buzzwords. In 2013, vendors loved to talk about their products delivering integration and ROI. This year, vendors will be talking about Big Data and Intelligent Information...Read More »

Monitoring and measuring your website performance: From Google Analytics to A/B Testing

In my experience at ByAllAccounts, many advisors have asked how they can better understand website activities, and improve their website performance. It’s an important question, because as Jonathan Bentley, Executive Vice President of InvestCloud, stated in a previous blog, “We are now well into the time when a firm’s website is the single most cost effective marketing and client service tool available...Read More »

Technology to boost customer service and lift AUM? It exists.

By Sheryl Rowling, CEO, Total Rebalance Expert on Tuesday, December 10th, 2013

Sheryl Rowling, CEO, Total Rebalance Expert

If I told you that an affordable technology could help you provide better service to your clients and increase your assets under management effortlessly, would you be interested? There is such a product, yet most advisers are not utilizing it. I'm referring to ByAllAccounts...Read More »

Fear of Conversions is a Good Thing

Susan Glover, President, Susan Glover & Associates, LLC

Is this your firm? Unhappiness with the legacy software, interest in new technology, excitement during the evaluation, contract ready to sign…...Read More »

Aim for Successful Integration, Not Just a Successful Implementation

By Susan Glover, President, Susan Glover & Associates, LLC on Tuesday, September 24th, 2013

Susan Glover, President, Susan Glover & Associates, LLC

Implementing technology is an overwhelming process. In the end, you may be relieved if it comes in only four weeks late and just 10% over budget...Read More »

Learn About the Latest in Disaster Recovery Solutions

By David Gemma, Chief Marketing Officer, UNAPEN, Inc. on Thursday, September 12th, 2013

David Gemma, Chief Marketing Officer, UNAPEN, Inc.

As network environments, regulatory mandates and external threats all increase in scope and complexity, the need for layered IT solutions has never been more urgent. Without comprehensive, integrated and proactive approaches to security, efficiency and compliance, managers are leaving their systems virtually unguarded and increasingly subject to plunder...Read More »

What You Should Know About Cloud-Based Solutions

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Wednesday, September 11th, 2013

Cynthia Stephens, VP of Marketing, ByAllAccounts

“Ideally, a client should never have any need of consulting or IT or infrastructure, but instead can just select what services they want from a menu and pay a proportionate price for that service based on their need and usage (just like you buy electricity or telecoms)”, says StatPro’s group chief executive Justin Wheatley...Read More »

Have Your Excel Based Applications Overstayed Their Welcome?

Susan Glover, President, Susan Glover & Associates, LLC

As a consultant who developed many Excel based applications, I understand why firms love Excel and won’t consider other software. I also understand when Excel is no longer the right solution for an application...Read More »

How Advisors Can Mine Big CRM Data for AUM Gold

In recent years, ‘big data’ has become such a buzzword: across industries, everyone is hoping to take advantage of data analysis to identify their most profitable business activities or ideal client types for growth. While the concept of big data is nothing mysterious or complicated, knowing how to approach it to benefit your business can be overwhelming. The data is there, and most financial advisors naturally have the statistical mind to analyze it...Read More »

The Cost of Financial Peace of Mind for Aging Americans

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Thursday, April 25th, 2013

Cynthia Stephens, VP of Marketing, ByAllAccounts

It should come as no surprise that the next 10 years will bring significant and rapid change for financial advisors and their clients, many of whom are Baby Boomers. Longer life expectancies, savings for health expenses estimated to be as high as $250,000 per person during retirement, historically low interest rates and ongoing volatility, have converged to bring unprecedented challenges to this generation and their financial quarterbacks...Read More »

Business Intelligence – Having the Right Information, Making Good Decisions

Susan Glover, President, Susan Glover & Associates, LLC

Advisors understandably question what vendors mean when they advertise products as “Business Intelligence” tools. Search on-line for business intelligence and you get a process used by companies with a lot of buzzwords such as SQL, data analytics, and data mining for large volumes of data. Does the same process that large financial services organizations use apply to advisory firms? The answer is yes...Read More »

Two must-have client communication elements you might be missing

By John Prendergast, CEO, Blueleaf on Thursday, February 28th, 2013

Client reporting is tricky. Reporting tools, client portals, your own presentation formats – they all present information in different ways and spur different reactions from clients. Some good, some not so much...Read More »

Show (Don’t Tell) Your Clients Your New Technology Tools

Susan Glover, President, Susan Glover & Associates, LLC

Congratulations! You just implemented a new ______________ (insert CRM, portfolio reporting, re-balancer, client portal, etc.) and you see an immediate improvement in the efficiency of your back-office. These sophisticated tools can store more client data, automate the consolidation of client assets, and streamline the reporting process to shorten the delivery time...Read More »

Don’t Accept the Inefficiencies of Manual Data Entry

By James Carney, CEO, ByAllAccounts on Monday, January 14th, 2013

James Carney, CEO, ByAllAccounts

Does this scenario sound familiar? There are particular asset classes you think could benefit your clients and firm—different types of alternative investments, for example—but the harsh reality is that you’re simply not prepared for the torrent of unstructured data that the custodians, asset managers or other keepers of the data for the funds in these categories are about to throw at you...Read More »

Get Your Platform Ready as Alternatives Go Mainstream

By Stephen Van de Wetering, Founder and CEO, Empaxis on Wednesday, January 2nd, 2013

Modern portfolios need to incorporate more vanilla stocks and bonds to keep high-net-worth clients happy and liquid. Does your firm have the technical muscle it needs? According to one recent survey, about half of all advisors expect to expand their clients’ exposure to alternative assets by at least 15% this year, while most of the rest are boosting their allocations by smaller amounts...Read More »

Don’t Let Your Data Limit Your Investment Universe

By Martin Dickau, CTO, ByAllAccounts on Thursday, December 27th, 2012

Working with structured data feeds is a dream. But in an industry that needs to be increasingly open to alternative asset classes and retail-level accounts, turning unstructured data into a structured back-office-friendly format is the Holy Grail...Read More »

Eliminating Manual Processing in Alts: Millennium Trust’s McCartan

By James Carney, CEO, ByAllAccounts on Tuesday, December 18th, 2012

The use of alternative investments is increasing—big time. But as usage increases, so, too, do the hours that advisors find themselves devoting to the manual processing and reporting of data related to these investments...Read More »

Alternative Investments: A Custodian Speaks

By Amy McIIwain, President, Financial Social Media on Monday, November 26th, 2012

Amy McIIwain, President, Financial Social Media

Alternative investments are hot enough that RIAs, broker dealers, family offices and others are feeling the pressure when it comes to picking the right vehicle and incorporating it into their reporting systems...Read More »

Solving the Alt Investing Reporting Problem

By Amy McIIwain, President, Financial Social Media on Monday, November 19th, 2012

Amy McIIwain, President, Financial Social Media

When you look at alternative investments, you can’t help but see how significantly their use has increased. In the past 12 months alone, there has been a double-digit increase in the use of alternative investments, including hedge funds, private equity, REITS, managed futures and the assorted other types of investments that comprise the category...Read More »

Reconciliation Comes Into Focus Again

By Amy McIIwain, President, Financial Social Media on Thursday, November 8th, 2012

Amy McIIwain, President, Financial Social Media

Asset safety means more than simply an independent reputable custodian holding the assets under management. High profile frauds exposed during the financial downturn have highlighted the need for processes that ensure timely and accurate recording of assets plus an effective reconciliation between the books of the investment manager, custodian or other fiduciary (e.g. prime broker)...Read More »

The Cloud is the Clear Outsourcing Choice for RIAs

One of the advisors I work with recently started looking for a new outsourcing solution, only to realize that a lot of factors need to be considered before choosing a vendor. Thinking through all the parameters up front will help drive the selection process. Otherwise, juggling each factor along the way only makes the process very confusing...Read More »

The Data is the Client Experience

By Scott R. Graflund, Partner, FallLine Strategic Advisors on Wednesday, October 24th, 2012

In today’s new era of wealth management, where choice, independence and objectivity are the new value proposition, the ability for firms to control the client experience can be daunting. An unprecedented amount of advisor transitions are being enabled through new business models and advances in data accessibility and transferability. This new landscape consists of multiple custodians and platforms that create an even more disruptive challenge for controlling and managing data, much less the client experience. The impact is challenging traditional models of how applications and data work together. Market forces that are driving independence and open architecture are taking a data challenge once unique to sophisticated clients downstream to less sophisticated clients now operating in a more complex environment...Read More »

Alternative Investments Still Need Traditional Reporting

By Cynthia Stephens, VP of Marketing, ByAllAccounts on Tuesday, October 23rd, 2012

Stocks and bonds are simply no longer enough to give your clients the diversification and performance they demand, and as “alternative” assets go mainstream, commodities — especially gold — are leading the way. Unfortunately, while advisors and investors alike are begging for alternative assets, the data management challenges of monitoring and reporting their impact on client portfolios can be very burdensome...Read More »

The Best Way to Run Your Reconciliation Desk

Asset managers must turn reconciliation into a value driver. Here’s how. Often brushed aside as a tedious chore, the reconciliation system occupies a unique and privileged position in the back office in terms of the revelations it can open up to firms that are paying attention...Read More »

Up Your Game with an Automated Reconciliation Process

By John Maronich, Business Analyst, IntegriDATA on Friday, October 12th, 2012

It’s playoffs time in basketball. This is the time of year when people focus on the star of a team to propel them to the championship by scoring points and making game winning shots. Usually it is the star player who receives all the credit for leading their respective teams to the championship. Though they are important, they are only one piece to the puzzle. A team still needs role players, who are hard working players that dive for balls in the crowd, grab rebounds and defend the best players on the other team. Role players do all the little things that go underappreciated, but in the grand scheme of things they may have been the reason why you won the championship in the first place...Read More »

This Is the Year To Get Your Big Data Under Control

Mid-market asset managers drowning in compliance costs are reaching for better reconciliation systems in order to expand their AUM without collapsing their margins. For many investment management firms, new channels of product distribution bring additional back-office operational burdens: new systems to learn, different ways to retrieve data and additional headaches...Read More »

To Build an Advisory Dynasty, Educate the Heirs

By Amy McIIwain, President, Financial Social Media on Monday, September 17th, 2012

Amy McIIwain, President, Financial Social Media

Keeping wealthy families as multi-generational clients requires a window into the household’s financial arrangements as well as a human touch. The parents will appreciate your efforts and the kids will learn to rely on your expertise when Mom and Dad are gone. Wealth managers work hard to protect their high-net-worth clients’ wealth for generations to come, but too many get a cold reward when the heirs take the fruits of their labor to competitors...Read More »

Want More From Your Technology? Don’t Stop at the Screen

By Scott Martin, Senior Editor, thetrustadvisor.com on Tuesday, July 17th, 2012

New survey shows that getting all the systems to work together is the top technological challenge advisors face. But simply bolting the passwords together won’t cut it. From all the buzz I’m hearing, systems integration is a hot topic among advisors right now. Let’s get ahead of the curve and talk about what exactly it means for your office...Read More »

Bring Big Data Power to Your Client Accounts

By Martin Dickau, CTO, ByAllAccounts on Tuesday, July 10th, 2012

What does Big Data have to do with the asset harvesting opportunities financial account aggregation provides? Should independent advisors be listening to the buzz?..Read More »

Developing New Strategies for More Sophisticated Customers – How Advisors Can Leverage the Cloud

In the wake of the recent financial crisis, wealth management clients are more focused than ever on the value financial advisors deliver. While portfolio performance has always been an important element in the calculation of value, customer service remains the most critical factor in retaining customer assets. And a fundamental component of customer service is developing highly customized investment strategies that better fit the needs increasingly skeptical, and often increasingly sophisticated clients...Read More »

Clients and Prospects Love Their Tablets Too

Mobile computing is a lot more than taking the back office on the road. Advisors who get their brand on other people’s iPads have a lot to gain...Read More »

Search and Selection for New Advisor Technology – Three Steps to Get you Started on the Right Foot

Advisors should apply same planning skills they use with their clients to purchasing new technology The process of selecting of new technology is similar to the process of selecting a new investment for your client. Before you would plug the trigger on a trade, you spend time of upfront to ensure that the investment is sound and appropriate for your client’s portfolio. The same holds true for new technology upgrades and purchases. Before making your next technology decision, spend some time upfront developing a plan and understanding the gaps in your portfolio. In my last couple of blogs I discussed how understanding your technology personality and your investment portfolio complexity will help streamline the search process when it comes to upgrading your portfolio accounting capabilities. In this blog I will like to discuss three key preparation tasks you should perform when starting a vendor search and selection process...Read More »

Staying Connected with Customers 24/7 – How Wealth Managers Can Improve Engagement

A key consideration driving financial advisors’ data management strategies is how to leverage data and technology to forge stronger client relationships. There’s been considerable buzz recently about emerging new technologies that have improved wealth management systems such as CRM and account aggregation. However, an area that’s still very much unexploited and rife with opportunity is the development of advisory-branded mobile applications...Read More »

Data Portability Breaks Advisors’ High-Tech Chains

By James Carney, CEO, ByAllAccounts on Thursday, April 12th, 2012

Between the credit crunch and the relentless pace of technological innovation, the last few years have taught us that advisors are only as captive to their circumstances as they choose to be—and everyone needs to be able to roll with the punches. At this point, advisors have almost complete control over every aspect of their business. They can replace the investment platform, switch custodians or broker-dealer affiliations, or swap out all their technology from the ground up...Read More »

ROI Means Making Every Minute Count More

By Cynthia Stephens, VP of Marketing on Tuesday, April 10th, 2012

Was Benjamin Franklin right in saying that time is money? Some advisors try to evaluate technology in terms of the labor it promises to save them, but the distractions and other hidden costs can overwhelm even the biggest theoretical efficiencies...Read More »

10 Mobile Apps to Keep Financial Advisors Ahead of the Game

By Amy McIIwain, President, Financial Social Media on Wednesday, April 4th, 2012

Amy McIIwain, President, Financial Social Media

Whether it’s an iPad, Blackberry, Macbook, iPhone, or Android, just about everyone owns a digital device to maintain global connectedness and communicate with co-workers, family, and friends with the mere touch of a screen. “Having the world in the palm of your hand” used to be a metaphor; today it’s a reality. Technology has not only changed the way we experience and interact with the world, it has also changed the way we do business...Read More »

Monitoring A Financial Plan in the Digital Age

By Michael E. Kitces, Nerd's Eye View Blog on Friday, March 30th, 2012

Historically, the update of a financial plan has been a somewhat arduous process, as new data is gathered manually from the client, entered into financial planning software, analyzed for problems or opportunities, and then finally delivered to the client. Perhaps even more challenging is the fact that it's never quite clear when or how often to do the plan update; annual updates are proactive but often produce a lot of work when nothing has actually changed, yet waiting for the client to request an update can be too reactive. In the digital age, though, monitoring a financial plan will be very different. As integrated technology allows plan details to updated automatically and continuously, we will reach the point where you don't notify the client that it's time for a plan update; the planning software will notify you!..Read More »

Buying an iPad Just the First Step for Advisors on the Go

By Amy McIIwain, President, Financial Social Media on Tuesday, March 27th, 2012

Amy McIIwain, President, Financial Social Media

While tablet-based versions of popular wealth management programs are finally coming out, low reported deployment rates indicate that advisors are still relying on makeshift solutions for integrating their mobile computers into their business routine. At this point, the iPad in particular is almost ubiquitous in some corners of the industry. You see advisors pull out their tablets the way they used to pull out a Blackberry or Palm Pilot. Accounting and custody platform providers have bent over backward to create dedicated mobile apps, but uptake rates from giant vendors like Pershing are reportedly under 10%. What’s going on here?..Read More »

Don’t Let the Tail Wag the Dog: Put Your Portfolio First When Selecting a Portfolio Accounting System

When I was a technology consultant I would, from time to time, receive inquiries such as “I am considering Advent, Archway Technology or Investran, for portfolio accounting”. I would wonder how the person identified such a random short list of vendors for consideration. I have used a similar example in discussing how to better understand your “technology personality”. By understanding your preferences you can streamline the search and selection process. The same holds true in understanding your investment portfolio makeup. The better you understand how your investment portfolio drives requirements, the better your search process will become...Read More »

Simplifying Market Data Management – How Wealth Managers Can Better Handle the Market Data Explosion

Market data is an integral component to critical wealth management systems across the front-, middle- and back-offices. From investment research to portfolio reporting, compliance and risk management to online customer portals, market data drives decision-making and provides enhanced transparency. Managing market data across all of these disparate systems has always been a challenge, but has become increasingly complex in recent years due to the explosive increase in the volume of market data. The daily flood of market data shows no sign of slowing down—in fact, experts project it to accelerate in the coming years. This means that market data management solutions must easily scale to meet the needs of tomorrow...Read More »

14 Reasons Why Start-Up Advisor Technology May or May Not Be Worth the Risk

By Amy McIIwain, President, Financial Social Media on Tuesday, February 28th, 2012

Amy McIIwain, President, Financial Social Media

When buying new technology, advisors have the option of buying straight from entrepreneurial start-ups and bypassing what the mature tech conglomerates have to offer. Some advisors love the innovation and the ability to challenge the status quo. Do you?..Read More »

Top 5 Wealth Management Technology Challenges Addressed by the Cloud

By John Neff, Senior Product Marketing Manager, Xignite on Thursday, February 16th, 2012

As market data volumes continue to grow exponentially, so too does the burden on wealth managers and financial advisors to identify ways to harness the power of market data and transform it into a meaningful competitive advantage. What’s required is a cohesive market data management strategy that not only simplifies internal operations, but also lays the groundwork for tools that enhance engagement with customers...Read More »

Every Advisory Firm Should Know What Technology They Need, Not What They Want

Understanding your “technology personality” will help streamline the decision process when it’s time to make changes to your office systems. From time to time people ask me which technology vendors they should consider when upgrading their portfolio accounting capabilities: Advent, Black Diamond, Asset Book, Morningstar, someone else? I often wonder what process was used to develop this short list because often times it appears to me that they are comparing apples and oranges. In trying to answer this question, I like to take a step back and look at the advisor’s real preferences...Read More »

2012 Market Data Industry Outlook - 4 Major Trends all Leading to the Cloud

By Peter Curley, Director of Product Marketing, Xignite on Wednesday, January 25th, 2012

In 2011 the cloud finally went from an unproven curiosity to an accepted mainstream technology solution. In 2012 we will witness the deepening penetration of the cloud into the consciousness of multiple industries. The market data industry is an interesting case in point because the major industry trends are all pointing to the rapid adoption of an on-demand cloud-based market data solution. Let’s review each of these trends individually to understand how important the cloud will be for the market data industry in 2012:..Read More »

Three Ways Technology has Revolutionized Marketing and How Financial Professionals can Benefit from Them

By Amy McIlwain, President, Financial Social Media on Friday, January 20th, 2012

Can you remember back in the day, when you dialed in to get your “electronic” mail from AOL? Patiently waiting and trying to dial multiple numbers before finally making the connection? Personally, the sound of the computer buzzing away like it was making a cup of coffee heightened the anticipation of what awaited in my inbox. Back then there were not as many uses for a home computer than there are today, and some people struggled to understand why they needed to have this big bulky contraption on their desk. The idea of social media wasn’t even a glimmer on the horizon. Back then…a mere 15 years ago. Wow, does time fly!..Read More »

Efficiency-Starved Advisors Are Embracing “Single Dashboard” Approach

By Scott Martin, Senior Editor, thetrustadvisor.com on Wednesday, January 18th, 2012

Far from liberating the industry from time-wasting distractions, technology is actually getting in the way of the real business of working with clients and generating revenue. But some see the pendulum swinging back. It looks like the high-tech revolution has finally hit a pain point in the financial industry. Advisors are grumbling about too much switching between too many programs, none of which talk to each other. Their desktops are too crowded and their resources, they feel, are stretched too thin...Read More »

How to Boost Managed Assets Using Clients’ Financial Data

By Martin Dickau, CTO, ByAllAccounts on Wednesday, December 28th, 2011

Connecting all the data points in your clients' financial lives is key to unlocking new assets. Getting all those data points in the first place doesn’t have to be a grueling task...Read More »

7 Advisor Tech Trends for 2012

By Gary DeAsi, Marketing Coordinator, ByAllAccounts on Tuesday, December 27th, 2011

Next year will go down in history as one of the best ever for wealth management technology. From the continuing rise of iPads and tablet devices to the advent of “cloud” computing, new technology will change the face of the advisor world. Given the pace of change, predicting what will happen in 2012 may be even harder than ever. But considering where the digital world is going, I can guess what will happen just by looking at what’s already on the horizon...Read More »

Fixed Income Electronic Trading – Let There Be Light

By Peter Curley, Director of Product Marketing, Xignite on Thursday, December 15th, 2011

The fixed income trading world has been the last hold-out in the broad shift towards electronic trading and more transparent centralized trading venues. We’ve already witnessed the other popular financial instruments including equities, options, futures, and currencies, succumb to the inevitable, but fixed income is still dominated by the murky business of OTC trading. There are signs, however, that even this asset class has finally reached a tipping-point, and that we are now on the verge of a new world where the buy-side’s demands for transparency will finally be realized...Read More »

Must-Have Advisor Technology for 2012

By Cynthia Stephens, VP of Marketing on Tuesday, December 13th, 2011

Just about every advisor wants to sign new clients, bring on more assets and, in general, grow the business. But sooner or later, serving those added relationships requires either added investment in capacity — recruiting more talented people — or a more creative approach to technology. With practically every firm in the industry competing for fresh talent, the recruiting approach can’t work for everyone. As advisor Risley Sams has discovered since breaking away from the wirehouse in early 2009, technology is the key to exponential growth. Let’s find out how he’s expanded his book of business by 65% over the last 2-1/2 years...Read More »

The 3 Phase Evolution of Buy-Side Mobile Apps

By Peter Curley, Director of Product Marketing, Xignite on Thursday, December 1st, 2011

There is little doubt that we are in the midst of a technological sea change as the world moves from an Internet that was tethered to PCs, to a world where the Internet can be accessed from anywhere, through a wide array of always-on smartphones and tablets. We’ve all heard the impressive statistics that support this trend with just over 400 million smartphones expected to be sold globally in 2011, and Gartner forecasting that the mobile web will grow to 1 billion smartphones and 320 million tablets sold in 2015...Read More »

Schwab IMPACT 2011: An Interview with ByAllAccounts CEO, James Carney

By Gary DeAsi, Marketing Coordinator, ByAllAccounts on Thursday, November 10th, 2011

See the video blog where James Carney, CEO of ByAllAccounts, is interviewed at the Schwab Impact 2011 Conference on how advisors can improve their practices with data aggregation technology. Just click the video link below, and in 3+ minutes, hear James explain how data aggregation enables advisory firms to:..Read More »

Are You Prepared to Deal With Your Client of Tomorrow?

By Alex Wingert, Advisor Websites on Friday, September 23rd, 2011

Those who have grown up with Web 2.0 at their fingertips will soon be getting to the age where they are starting families and talking about getting financial advice. Do you know how you’re going to react when they show up to your doorstep or website?..Read More »

Advisors and the Cloud: Welcome to the New World of Computing

By Brian Gannon, Technical Relationship Manager on Friday, August 26th, 2011

It's official...the Cloud is here, and it's not new anymore. The other week, I embarked on an ambitious project, one which I have tried every now and again over the past ten years and which has invariably proved to be a fool’s errand: create the elusive “unified calendar”. By that I mean a calendaring system that is correct no matter where it is viewed, and no matter where appointments are created or modified, whether it be in Outlook, a phone, the Internet, etc. I’ve tried and failed so many times, and scoffed at the promise of the Internet as a result. There was always a snag. I had to sync my phone to my laptop at least once a day, or my workplace’s Exchange server was locked down, or appointments could be viewed but not made on my personal laptop. If it didn’t include everything, and/or relied on some manual step, it didn’t count. Well guess what. This time, the result was different. This time, IT WORKED! I was as excited as Doc Brown when the DeLorean hit 88 miles per hour. iCal + Google Calendar + Outlook + Google Calendar Sync = Unified Calendar. And that can only mean one thing: the Internet, or the Cloud I should say, is finally, positively, without a doubt, here...Read More »

Advisors and CRM Technology: How Does your Firm Stack Up?

By Amy McIIwain, President, Financial Social Media on Thursday, August 18th, 2011

Amy McIIwain, President, Financial Social Media

Frankly, I’m a tough grader when it comes to measuring the value of my technology at the office. After all, I make tradeoffs in how to spend the marketing budget. That said, I would give my customer relationship management system (CRM) a B+ grade. It is critical to our success to have a CRM system that enables us to communicate effectively with clients and potential clients, integrates with the other software that we use, and supports us as we grow. But what about the financial advisors whom we serve (and those who don’t yet use ByAllAccounts’ services)? We were curious about their adoption and use of CRM technology, so we made that the topic of our Q3 ByAllAccounts survey. Our survey covered topics that include: Do the respective advisors use CRM? Why or why not? How do they use such a system? How much do they pay? Would they recommend their CRM system to a colleague?..Read More »

The Top 10 Ways Advisors Use an Outsourcer (And Why You May Want to Consider It, Too)

By Amy McIIwain, President, Financial Social Media on Friday, August 5th, 2011

Amy McIIwain, President, Financial Social Media

Deciding what activities are “core” and what are “non-core” is one of the most crucial business decisions you’ll make, regardless of whether you are a sole proprietor or a financial advisor in a small RIA. If you are the “rainmaker,” you’ve probably thought about how to maximize the core time you spend with customers and potential customers and ways to minimize the time spent on some back-office functions......Read More »

Choosing the Right Software: 3 Tools for Getting it Right the First Time

By Brian Gannon, Technical Relationship Manager on Thursday, July 28th, 2011

Way back when, in the early 2000’s, my roommate Joe and I would often find ourselves watching “Leave it to Beaver” on Saturday mornings. One of our favorite scenes was one where Beaver was choosing a book for his book report from Ward’s library. Beaver pulls out a book and hands it to Ward for the requisite parental approval. Ward is puzzled by his choice and says to Beaver, “’A History of Mexico… why did you choose this book Beaver?” Beaver responds enthusiastically, “I chose it on account of its neat green cover!” And then Ward, in his perfectly sardonic father-knows -best tone: “No Beaver, no. That book is not for you.” You can almost hear him saying “No Beaver, that is a terrible idea”, which is why we found it so humorous. Ward then chooses The Three Musketeers for Beaver, and yet another Cleaver household catastrophe is narrowly averted. (Well, not really, because then Beaver watches the Three Musketeers movie instead and gets in big trouble...)..Read More »

Mind Maps: Reinventing the Client Value Proposition

By Amy McIIwain, President, Financial Social Media on Tuesday, July 26th, 2011

Amy McIIwain, President, Financial Social Media

We live in puzzling times. The speed of the microchip and the expansion of the Internet have opened many doors for the delivery of financial services. So much so that many advisors are confused as to which door to open, or what service to provide, or how to be paid for these new services. For advisors who are prepared, the opportunities are there for the taking. The recent financial crisis has made taking action even more important. Advisors who depend entirely on providing Assets-Under-Management (AUM) services for a fee are being questioned about the relevance of their services. Are advisors presenting a clear client value proposition? Are AUM fees being commoditized? Now that the veil has been lifted on Wall Street, don't all investment advisors look the same?..Read More »

Get Going With a CRM, or Get Left Behind: An Interview with Tim Minert, Redtail Technology

By Cynthia Stephens, VP of Marketing on Wednesday, June 22nd, 2011

Last week I attended Cloudforce Boston 2011 and heard Salesforce.com Chairman and CEO, Marc Benioff, deliver the keynote address. From his remarks, it’s clear that sales and marketing professionals have embraced customer relationship management systems. But are financial advisors embracing them? I reached out to Tim Minert from Redtail Technology - a leading CRM for financial advisors - to get his perspective.....Read More »

Data Security: Q&A with our CTO

Amy McIIwain, President, Financial Social Media

ByAllAccounts deals with sensitive account information every day, so it comes as no surprise that we get a lot of questions regarding how we keep that information secure and ensure your clients’ privacy. I had an opportunity to sit down with our Chief Technology Officer, Martin Dickau, to discuss some of the questions he hears most frequently. Here are the top 4 questions that Martin is asked, and the answers he provides.....Read More »

Google Analytics 102: Mapping a Path from Prospect to Client

Amy McIIwain, President, Financial Social Media

In my last post, we discussed some basic features of Google Analytics and how advisors can utilize these SEO capabilities to your advantage. This time around, I would like to focus on how you can use some of these analytics tools to track the common paths prospects/visitors take through your website, and to identify the most effective combination and sequence of content that leads to a conversion. Also known as a "Buyer’s Journey," by tracing the steps past prospects have taken through your site from first visit to point-of-purchase, you will know which paths should be lit for future prospects to follow, and where to position the right content along those paths to lead them in the direction you want them to go (i.e a call-to-action or contact page.)..Read More »

How are Advisors Using the iPad for Business? (Survey Results)

By Cynthia Stephens, VP of Marketing on Wednesday, May 18th, 2011

I can't attend an event without noticing someone using an iPad. Case in point: an opening where a fellow photographer used her iPad to take pictures at the gallery. And, an executive round-table I attended the next day where I spotted marketers taking notes with their iPads. It's no secret that many financial advisors have also jumped on the iPad bandwagon. So, what's all the fuss about? To find out, we surveyed more than 250 financial advisors during the past few weeks to get their opinions about how and why advisors are using iPads...Read More »

How 500+ Financial Advisors are Using Technology

By Josh Meyer, CFP®, Advisor Tech Tools on Friday, May 13th, 2011

How do you compare to other advisors technology wise? On May 4th, Advisor Tech Tools released technology usage statistics for our 500 registered users in various categories such as: Portfolio Management Software, CRM Systems, Account Aggregation Software, Rebalancing Software, Client Portals, Document Management Systems, and others. Many of the market leaders held the top spots, including; PortfolioCenter, Junxure, ByAllAccounts, Tamarac, Charles Schwab, and MoneyGuidePro. While you can head to our site to see the complete usage statistics, we wanted to share a few of the more interesting pieces of data:..Read More »

Google Analytics 101: Man Your Battle Ship

By Amy McIIwain, President, Financial Social Media on Thursday, April 21st, 2011

Amy McIIwain, President, Financial Social Media

If you have a website, you probably understand the advantages of search engine optimization and are already using a SEO tool such as Google Analytics on a regular basis. If not, you aren't leveraging the power of your website to its full advantage. Your website is your firm's online flagship, and Google Analytics is its command center—a free and simple tool that arms you with the intelligence to position your brand, track your targets and deploy your most effective marketing weapons in concentrated places where they'll have the greatest impact. Here are some basic features, metrics and website traffic insights that Google Analytics equips you with, and the advantages of having this intelligence:..Read More »

How Financial Advisors Can Use Video to Grow Business & Client Relationships

Amy McIIwain, President, Financial Social Media

As you know, the marketing team at ByAllAccounts uses videos to communicate with clients and prospects. We asked Joe Eldridge, Founder/VP of Marketing & Delivery at VisibleGains, an online marketing video service provider, to give some tips on how financial advisors can use video too...Read More »

No More Games, Let's Just Talk: How Timetrade Doubled My Productivity

By Amy McIIwain, President, Financial Social Media on Thursday, April 7th, 2011

Amy McIIwain, President, Financial Social Media

This is not an advertisement for Timetrade. Nobody put me up to this, nor am I being held at fake finger-in-coat-pocket gunpoint by some over-eccentric staff member demanding a testimonial for ransom (not to suggest that anyone at Timetrade would ever do such a thing, but I want my point to be made clear.) This is not a marketing ploy, but rather an honest reflection of the ways in which appointment scheduling software has impacted my performance as a sales development professional. I'm sure there are other products out there similar to Timetrade that work great. Having said that, Timetrade works wonders for me. I began using the product in October of last year, and my productivity has doubled ever since. By "productivity has doubled", what I mean is that the number of opportunities that I create per day is twice as high with the software as it was before I started using it. Why is that? With Timetrade I can spend more time talking to prospects, and less time playing games...Read More »

Bill Winterberg Talks Technology

By Amy McIIwain, President, Financial Social Media on Thursday, March 31st, 2011

Amy McIIwain, President, Financial Social Media

On Tuesday, March 22, 2011, Advisor Websites had the opportunity to speak at length with one of the industry's thought leaders, Bill Winterberg. The interview addressed current issues that Financial Advisors are facing with technology...Read More »

Are you an iPad(visor)?

By Gary DeAsi, ByAllAccounts on Wednesday, March 16th, 2011

As the Marketing Coordinator at ByAllAccounts, I spend an almost unhealthy amount of time frisking trade publications and social media sites for fresh perspectives and opinions to feed the discussion of trending topics in the financial services industry (not to say that I don't enjoy it). However, one such topic I never seem to have trouble digging up chatter about is the usefulness of the Apple iPad as a business tool for financial advisors. The popularity of this thing among financial professionals is unbelievable...But what, exactly, is it about the iPad that seems to resonate so well in the world of financial advisors?..Read More »

Messes You Can Avoid by Reconciling Your Account Data Daily

By Brian Gannon, Technical Relationship Manager on Thursday, March 3rd, 2011

Rare is the advisory firm that doesn't understand the importance of reconciling account data. For most, it's about as much a given as meeting with clients. Surprisingly though, far more common is the firm that doesn't see the need to reconcile data on a day-to-day basis. If I were to ask an RIA how often their firm reconciles their custodial data, they might say every couple days, weekly, maybe even bi-weekly--and I might think that they're not crazy. But I doubt it. To me, reconciling your accounts once-a-week is like washing your dishes once-a-week--checking your oil once-a-year or going for a physical once-a-decade--you just don't let it go that long. And the longer you do, the greater the mess and harder it is to clean...Read More »

What to consider when hiring an outsourcer

Hiring an outsourcing firm is not a decision to be taken lightly. Finding the right vendor to help manage your business makes all the difference for a growing firm, which is why a diligent appraisal is vital. Here are some suggestions on how to make sure you're getting a good fit and a reliable partner...Read More »

WebPortfolio Tips: Running Report

By Jim Miesel on Thursday, November 18th, 2010

WebPortfolio includes several built-in reports that allow you to see the data for a specific client in an easy-to-read format. To run a report, you first select a client from the main advisor screen in WebPortfolio, and then press the "Client's Financial Info" button...Read More »

Survey Snapshot: Majority of advisors loyal with current PMS

By Amy McIIwain, President, Financial Social Media on Monday, November 1st, 2010

Amy McIIwain, President, Financial Social Media

If you are a fan of ByAllAccounts you know that we frequently survey financial advisors to snapshot current trends, advisor sentiment and the impact of regulatory/legislative developments. In our October survey we asked advisors about potential changes to their portfolio management system (PMS) to highlight technology trends in 2011...Read More »

Exciting Times Ahead

By Joel P. Bruckenstein, CFP on Monday, October 11th, 2010

In my ten plus years of covering advisor technology, I've never been more enthusiastic about the prospect of innovation and productivity gains in the years ahead. As I write this, virtually every sector of advisor technology is experiencing advances that will improve the lives of advisors and clients soon...Read More »

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