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We Have The Receipts

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Battle Camp: Final 5 Episodes with Dana Moon + Interview with the Winner! 1:03:29

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Finally, we find out who is unbeatable, unhateable, and unbreakable in the final five episodes of Battle Camp Season One. Host Chris Burns is joined by the multi-talented comedian Dana Moon to relive the cockroach mac & cheese, Trey’s drag debut, and the final wheel spin. The Season One Winner joins Chris to debrief on strategy and dish on game play. Leave us a voice message at www.speakpipe.com/WeHaveTheReceipts Text us at (929) 487-3621 DM Chris @FatCarrieBradshaw on Instagram Follow We Have The Receipts wherever you listen, so you never miss an episode. Listen to more from Netflix Podcasts.…

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Financial advisor technology news and information

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FinaMetrica merges with PlanPlus: Fintech updates for August 8, 2017 2:51

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Here is your FPPad Bits and Bytes update for August 8, 2017. FinaMetrica merges with PlanPlus FinaMetrica announced its merger with PlanPlus , a Toronto-based financial planning software provider. Founded in 1998, FinaMetrica is one of the first companies to gain significant traction for its risk tolerance assessment software, though the company has seen its market share decline over the last few years due to increased competition from Riskalyze, Pocket Risk, RiXtrema, and others. The combined company will be called PlanPlus Global, and will offer solutions for comprehensive financial planning, goals-based automated investing, and psychometric risk profiling to its 12,000 current users in over 30 countries worldwide. Terms of the deal were not disclosed. Advicent adds integration with Envestnet Advicent announced a new integration this week with Envestnet , which allows advisors to extract client demographic, investment account, and investment portfolio data from Envestnet and populate the data into the company’s NaviPlan financial planning software. Advicent is a leading provider of financial planning software in the enterprise space, with over 100,000 financial professionals across 4,000 clients worldwide using at least one of the company’s solutions. The integration also demonstrates Envestnet’s continued expansion of its Open ENV initiative announced last year. Here’s Envestnet President Bill Crager with more information: So as the platform began to take on a bit of a one-size-fits-all, we realized we had to open that up. So the core engine will fire into these user interfaces that will really speak to the adviser, will speak to the home office. And not only that, we’re building APIs to integrate with the full ecosystem of an adviser’s practice, whether that’s CRM or other applications that they’re using. How do you get information into the system to, again, provide really profound and comprehensive advice for that client that is not a moment in time, but is ongoing. And that’s really our goal, and Open ENV, I think, is a strategic breakthrough and I’m very excited about it. PreciseFP adds iOS and Android Mobile Apps For your client data gathering needs, PreciseFP announced new mobile apps for iOS and Android , giving advisors more convenient access to client information. The new app lets advisors add new information about prospect to their PreciseFP database, send data gathering forms to clients and prospects on the spot, and review any existing client data or forms right from their phone. And finally, if you’re looking for ways you can leverage technology to enhance your client engagement, save the date for Wednesday, August 16 at 4pm Eastern, 1pm Pacific, as I’m hosting a webinar with two advisors who’ve doubled down on technology and seen a huge increase in their client satisfaction. Head over to fppad.com/webinar to register today, that’s FPPad.com/webinar to secure your spot Those are the headlines for today, I’m Bill Winterberg, be sure check back in for more FPPad Bits and Bytes Updates.…

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FPPad Bits and Bytes for January 27, 2017 6:31

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CFPB Requests for Information: Consumer Access to Financial Records: https://www.regulations.gov/document?D=CFPB-2016-0048-0001 This week’s update starts with a quiet, yet noteworthy escalation in the battle for access to consumer financial data collected by many of the account aggregation companies, as eight of them announced a new coalition called the Consumer Financial Data Rights industry group . Who’s part of this group? Names that should be familiar are Envestnet | Yodlee, Betterment, and Personal Capital, with less-familiar B2C startups Affirm, Digit, Kabbage, Ripple, and Varo Money rounding out the list. See, back in November 2015, large banks like JPMorgan Chase, Wells Fargo, and Bank of America “throttled” access to customer account data by account aggregation services that ultimately ended up on sites like Mint.com, Personal Capital and others, causing users of those services to have inaccurate information on their account transactions and investment holdings. The banks acknowledged the throttling, saying they did it out of concerns for account security and to protecting customer data. Oh really? Because by my research, account aggregation has been around for the better part of 28 years. How many known security breaches have been reported by the account aggregators? Zero. So now all of a sudden the banks are concerned about security? Obviously, there is some tension here, and I’m sympathetic to both sides. And the tension is significant enough that even the Consumer Financial Protection Bureau has taken interest in the issue. So here’s what I want you do to. When you’re done listening to, or reading, this week’s update, go to fppad.com/204 where I have links for this week’s stories, and at the top I’m going to link to the CFPB’s request for information about the use of account aggregation services. If you’re using account aggregation to enhance the advice you give to your clients, or even just to see a comprehensive picture of their net worth, consider adding your comments on the rights you feel consumers should have to give permission to third-party aggregators in order to access their data. Because if you don’t take the opportunity add your two cents, you can’t complain about what happens with the future of account aggregation. I’m going to stay on the topic of account aggregation with the next story, because I find it interesting that this week JPMorgan Chase just announced its own agreement with Intuit to offer client account data access through an API. So what’s different about this API? With most of the existing aggregators, a Chase customer would have to enter their username and password into account aggregation which would then go out and log in to the Chase servers, usually overnight when it’s not very busy, and pull in the account transactions. This new API, however, allows Chase customers to grant access to Intuit right within their Chase account. They don’t need to give their username and password to Intuit. That’s great if customers who want aggregation operate within the Chase and Intuit ecosystem, but where I live in the real world, accounts are held all over the place. I’m concerned that Chase will start reducing account access to aggregators like Envestnet|Yodlee, Fiserv’s CashEdge, and maybe even eMoney and force them to program to this new API. Now if the new API doesn’t cost anything, it’s probably a good thing, and certainly helps protect the security of a customer’s username and password, but if Chase starts charging a fee for access to this new API, well, that starts to get a bit political. And another unknown is how Finicity may or may not be affected by this, because if you recall, Intuit said it was shutting down support for its account aggregation APIs and transitioned sales and support entirely over to Finicity. If a Chase client enables the API for Intuit, does that mean the Chase account data will be available through the Finicity relationship as well? If *you* happen know the answer, let me know, and I’ll post a follow up and keep you in the loop. So why spend all this time on account aggregation? I’m glad you asked! It’s because I continue to see strong demand for account aggregation services, with one example just this week where Wealth Access, operating out of Nashville, TN, announced that it now has $41 billion in assets tracked on its platform from 130 wealth management organizations , with both figures up over 50% from this time last year. And in an email I received from Personal Capital, they’ve now crossed over $300 billion in assets that are tracked with their digital tools, of course, all powered by account aggregation. And with the Department of Labor’s fiduciary rule, even with it’s fate in jeopardy, the momentum is already growing where advisors may need to use account aggregation to get the full picture of how a client’s existing portfolio is allocated BEFORE making a recommendation on how to make changes in a new portfolio. How can you do that? Unless you want to gather reams of paper statements from clients, the answer is account aggregation. I’ve linked to all of the stories mentioned in this week’s broadcast over on my website, so be sure to check them out over at fppad.com/204 And next week I’ll be attending the TD Ameritrade Institutional National LINC conference along with my executive producer Steve Biermann, so if you’ll be at that event, be sure to stop me in the hallways and say hello. And that wraps up this week’s broadcast on the best in advisor technology and more. If you have something to say, or have a story you think should be featured in a future episode, please send me a tweet on Twitter, I’m @billwinterberg, or if you’re not already receiving my email newsletter, you can sign up at fppad.com/subscribe Thank you so much for listening, I’m Bill Winterberg, see you next time.…

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FPPad Bits and Bytes for January 20, 2017 7:58

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In this week’s top advisor technology stories: Starburst Labs, the creators of Wealthbox CRM, raised $6.25 million in new capital The XY Planning Network inks an enterprise pricing deal with eMoney Advisor Morgan Stanley pays a $13 million settlement for billing mistakes across 149,000 customer accounts, and Document management provider Cabinet Paperless gets acquired by PSIGEN Software Starburst Labs raises $6.25 million in new capital This week, Starburst Labs, which is the New York City-based company (formerly known as Gotham Tech Labs) that makes Wealthbox CRM, announced it raised $6.25 million in Series A funding . Back in December when the Financial Planning Magazine technology survey came out, Wealthbox CRM was one of the few movers and shakers in that survey who rose up the ranks in overall adoption. Most of the other companies basically stayed in the same positions as in previous surveys. So Wealthbox CRM basically launched from zero on February 11th 2014 (which I remember because February 11th is my birthday) and in under three years has ascended to the level of industry adoption to compete with well-known CRMs like Redtail, Salesforce, and Junxure. What’s interesting, though, is that Starburst has three other products in addition to Wealthbox CRM which are InvestorSay, an online community centered around investing ideas, PaperTrade.io, a plugin for simulated stock trading contests, and Wealthbase, a question and answer website that reminds me a lot of Quora. So the Series A funding won’t exclusively support Wealthbox CRM, because I’m sure it’ll be allocated across all four products, but at least the new investment will do more than just keep the lights on at Starburst’s SoHo offices. Now, they don’t have a personal chef on site, but the offices are more than adequate to support the work the team needs to get done. And don’t forget, Wealthbox CRM is included in the technology package for anyone who is a member of the XY Planning Network, which is growing at its own eye-opening pace, so I’m not at all concerned that the product might go away anytime soon. An acquisition is a whole other story, but that’s a risk you take with any independent technology provider you use in your business, and isn’t a risk that’s exclusive to Wealthbox CRM. So with that, let me just say that I believe Wealthbox CRM deserves a little more respect and recognition in the industry for the adoption it has already earned among advisors in just a few years. The XY Planning Network inks pricing deal with eMoney Advisor Speaking of XY Planning Network, they’re also in the news this week after announcing a partnership with eMoney Advisor, where members of the network will receive enterprise pricing to emX Pro . emX pro is the top of the line package that offers planning modules for cash flow, estate, investment, and retirement illustrations above and beyond the client portal and account aggregation in the less expensive tiers. Retail pricing for emX pro is around $3800 a year, so enterprise pricing probably knocks off 10 to 20 percent, but it doesn’t bring the price down to the $1000 a year range for planning software like MoneyGuidePro and inStream that offer pricing discounts to XYPN members. Morgan Stanley pays a $13 million settlement for billing mistakes I have two more quick stories worth mentioning: First, I saw that Morgan Stanley was ordered to pay $13 million to settle civil charges brought by the SEC after the Commission found that more than 149,000 clients were charged excess fees of more than $16 million between 2002 and 2016 as the result of billing errors. The firm also failed to comply with custody rules by not conducting surprise audits on client accounts for which the firm had custody. So accurate billing is one of those things than often goes under appreciated inside your advisory business. If you have robust portfolio accounting systems like Orion, Envestnet | Tamarac, Advent, AssetBook, and others, it’s probably built in and pretty seamless. But I know some firms still calculate fees using custom Excel spreadsheets, and if that’s you, this action against Morgan Stanley should be a reminder for you that it’s probably time to replace your Excel spreadsheets with a more robust and less error-prone accounting system. Cabinet Paperless gets acquired by PSIGEN Software And to wrap up advisor technology news, I saw that Cabinet Paperless, a document management company based in Huntsville, Alabama, was acquired by PSIGEN Software for an undisclosed amount. PSIGEN offers document scanning and capture technology, and it’s safe to say that once you capture a document electronically, you’ll need a good solution to index, store, and archive all that information, hence the acquisition of Cabinet. Someone challenged me last week about why I think advisers are behind on technology adoption, and when I think of document management, this one of the solutions where I think I’m correct in that a minority of advisors have purchased and implemented a robust solution here. Your top contenders here are Laserfiche, Cabinet, NetDocuments, and possibly Sharepoint if you can justify the cost and customization required to make it work right in your firm. Soapbox: Incremental Care > Acute Care So moving on, I didn’t come across any cool or disconcerting apps this week to share, so i’ll get right to the soapbox to wrap up this week’s update. Sometime in the next few days, I hope you’ll take about 20 to 25 minutes to read an essay in the New Yorker by Dr. Atul Gawande about incremental care , or primary care, and the differences and tradeoffs of that kind of physician interaction compared to acute care, or the interaction one might receive from a specialist. Yes, there are some connections with health insurance and health insurance , but this essay helped me set aside my own political believes and consider what I want from my long-term healthcare interactions. I’m one of the fortunate ones; my wife works for a big employer that offers a high deductible plan with subsidized premiums and very good coverage. I try not to loose sight of how much of a privilege it is not to have to worry each year about our family’s coverage. But that’s not true for millions of americans nationwide. And I’m sure many of your clients, especially your small business owners, spend a lot of time each year evaluating some very difficult choices around the coverage for their employees, as well as coverage for their own household. Many of you, as owners of independent RIAs, are in the same boat. So that’s why this essay was a compelling read for me. It was worth 25 minutes of my time, and I hope you’ll find it’s worth your time, too. I’ve linked to all of this week’s featured stories over on my website, so be sure to check them out over at fppad.com/203 And that wraps up this week’s broadcast on the best in advisor technology and more. If you have something to say, or have a story you think should be featured in a future episode, please send me a tweet on Twitter, I’m @billwinterberg, or if you’re not already receiving my email newsletter, you can sign up at fppad.com/subscribe Thank you so much for *reading*, I’m Bill Winterberg, see you next time.…

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Tour the LPL Financial campus in Fort Mill, SC with Victor Fetter 6:34

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In a follow up to our first stop on FPPad Tech Tour , we reconnected with LPL CIO Victor Fetter to tour the finished Carolinas campus complex in Fort Mill, SC. Fetter gives us an overview of the spaces created to encourage collaboration and innovation, all in support of the tens of thousands of financial advisors who work with LPL Financial. (Click here to watch the tour on YouTube)…

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FPPad Bits and Bytes for December 16, 2016 7:27

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On today’s broadcast, Schwab announces its Schwab Intelligent Advisory services, Finicity raises $42 million for account aggregation, Envestnet|Tamarac rolls out Yodlee, and more. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by eMoney Advisor , featuring a new Client Onboarding process as a part of their leading client experience. Onboarding replaces printed fact-finding documents with an automated, digital workflow, allowing clients to populate their own personal financial information online from anywhere — adding an extra layer of convenience and efficiency to your service. For more information on eMoney’s Client Onboarding tool, visit fppad.com/emoneyonboarding today. Here are the links to this week’s top stories: Schwab Announces Schwab Intelligent Advisory from Charles Schwab [Now the big story this week is news from Charles Schwab, as the largest custodian for RIAs announced plans to introduce Schwab Intelligent Advisory in the first half of 2017. In the press release, Schwab’s Neesha Hathi said that Schwab Intelligent Advisory is designed for emerging or mass affluent investors who don’t have complex financial situations, features access to CFP® professionals who are available by phone and videoconference, and charges fees of just 28 basis points (disclaimer!) with a maximum of $3,600 a year. Now this isn’t as much of a technology story as it is a marketing story, because the technology for Schwab Intelligent Advisory portfolio management is that same that powers Schwab Intelligent Portfolios for retail investors and Institutional Intelligent Portfolios that you can use in your own RIA if you custody assets with Schwab. But, how does that make you feel knowing you’re using the same technology that your custodian will use to offer its own human-assisted advisory services to mass affluent clients? So I was asked if I thought RIAs should be concerned about this announcement, and I said yes, RIAs should absolutely be concerned. Look, when it comes to getting a prospect to buy what you do, most of the time it’s not what you say, it’s what people hear, and I’ve gotta admit, prospects are hearing comprehensive plans by CFP® professionals with 24/7 access, all for 28 basis points (disclaimer!)? Unless your prospects hear something far more different and compelling from you, I just can’t believe they’ll be willing to pay more than three times the price of Schwab Intelligent Advisory for your services. And I’m not ignoring Vanguard’s Personal Advisor Services, which also employs hundreds of CFP® professionals and charges 30 basis points (thank you!), with more than $40 billion on the platform and growing. A few of you have told me that you’ve lost clients to Vanguard’s service, which is also likely going to happen with Schwab Intelligent Advisory, but the difference with Vanguard is that they’re not also soliciting your custody business while simultaneously soliciting mass affluent clients. But the executives at Schwab surely know what they’re doing, and I think they know their target RIA client pretty well, which I suspect largely enforces client account minimums of a million dollars or more, so Schwab Intelligent Advisory really isn’t a competitive threat, because it’s not intended for the high-net worth clientele targeted by the largest RIAs that generally choose to custody with Schwab.] Charles Schwab today announced plans to expand its suite of wealth management and advisory services with the launch of Schwab Intelligent Advisory, a hybrid advisory service that combines live credentialed professionals and algorithm driven technology to make financial and investment planning more accessible to consumers. Finicity Secures $42 Million in Funding to Accelerate New Solution Development from Finicity [Now one of the things not mentioned about Schwab Intelligent Advisory is account aggregation, which is the focus of my next two stories, starting with Finicity, as the company announced it secured $42 million in a new funding round led by Experian. This is the first time I’ve mentioned Finicity in my broadcast, but I have a popular post on FPPad from March of this year when Intuit announced it was shutting down their Financial Data API and selected Finicity to offer façade APIs to developers who needed to transition off of Intuit’s aggregation. In the wake of that change, Guide Financial, which was acquired by John Hancock in the summer of 2015, shut down back in October, but other than that I haven’t heard of other significant disruptions among other tech providers. What remains to be seen is whether or not Finicity makes an attempt to offer aggregation services to advisers, either directly or by partnering with existing technology providers, so if you have some intel you can share with me, I’d appreciate the heads up, otherwise advisers can continue to engage aggregation providers such as Morningstar ByAllAccounts, Aqumulate, eMoney, Quovo Wealth Access, and Envestnet|Yodlee.] Finicity, a leading provider of real-time financial data aggregation and insights, has secured $42 million in new funding. Experian, a global innovator in consumer and business credit reporting, led Finicity’s Series B round, along with a venture debt facility provided by Bridge Bank and participation from existing investors. Tamarac Incorporates Yodlee’s Data Aggregation into Advisor Xi® from PRNewswire [And speaking of Envestnet|Yodlee, my last story highlights the rollout of Envestnet|Yodlee to the Envestnet|Tamarac platform. While at the Schwab IMPACT conference in October, I had a chance to connect with Brandon Rembe to get a quick update on what this new feature means for advisors. I’ve linked the full interview over here and in the description below, but let me just finish by saying that technology like account aggregation is still a bit of a differentiator for you, since it helps you know as much as you can about your client’s total financial picture, and not just what clients have at one custodian, such as, ohhh, Charles Schwab, which is a complete coincidence.] Envestnet | Tamarac now enables advisors to add assets and liabilities to households in Advisor View , helping them expand their focus and deliver more holistic advice to clients. A few parting words: Before I sign off, you need to know that I have some big plans in the works for FPPad content in 2017. I’m not going to go into the details right now, but what you will notice is that this broadcast, the almost-weekly videos, will be taking a bit of a hiatus for a few months. But don’t worry, I’ll still be providing my independent insight on financial technology that thousands of you count on as you navigate what I feel is an exciting, unprecedented opportunity in the business of financial advice. So connect with me anytime on Twitter, I’m @billwinterberg , or sign up for my email newsletter at fppad.com/subscribe Here are the stories that didn’t make this week’s broadcast: Scottrade® Advisor Services Clearing Paths for Advisors with New Tech Agreements from Scottrade Scottrade® Advisor Services now has agreements with two leading industry solutions providers to help RIAs run their day-to-day routines. Scottrade signed agreements with Morningstar, Inc. and Orion Advisor Services, LLC to offer their services at a discount. Yahoo Says 1 Billion User Accounts Were Hacked from NY Times Yahoo, already reeling from its September disclosure that 500 million user accounts had been hacked in 2014, disclosed Wednesday that a different attack in 2013 compromised more than 1 billion accounts. A Note From Chris O’Neill about Evernote’s Privacy Policy from Evernote We recently announced an update to Evernote’s privacy policy that we communicated poorly, and it resulted in some understandable confusion. We’ve heard your concerns, and we apologize for any angst we may have caused. Introducing Asset Classes from Riskalyze Advisors have been asking for better ways to visualize portfolio allocations, and we’re excited to announce today that we’re rolling out Asset Class coverage for all portfolios in Riskalyze! Personal Capital Adds $1.5 Billion in AUM and Closes $100 Million in Financing in 2016 from PRNewswire Personal Capital, the leading digital and professional advisor based wealth management firm, today announced that IGM Financial Inc. has completed the firm’s Series E round. Additionally, Silicon Valley Bank has extended $25 million in credit to the firm. Watch FPPad Bits and Bytes for December 16, 2016…

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FPPad Bits and Bytes for December 2, 2016 5:48

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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…

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FPPad Bits and Bytes for November 18, 2016 6:56

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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) 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: 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…

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FPPad Bits and Bytes for November 4, 2016 6:06

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On today’s broadcast, Brian Shenson updates Schwab’s technology roadmap, Riskalyze raises $20 million in capital, SS&C acquires Salentica, and more. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by eMoney Advisor , who just announced their Fiduciary Framework initiative to help advisors and firms comply with the recent DOL Fiduciary Rule. The framework weaves DOL-friendly solutions into each stage of the advisor-client lifecycle—like client acknowledgments, event logs, best interest workflows, and more—all within the existing integrated wealth management platform. For more information on Fiduciary Framework, visit fppad.com/emoneyadvisor Here are the links to this week’s top stories: Riskalyze Raises $20 Million Growth Equity Investment to Accelerate Risk Number® and Robo Platforms for Independent Financial Advisors from PRNewswire [Now first up, I attended Schwab IMPACT 2016 in San Diego last week and posted a few videos about Schwab’s technology updates, including a detailed discussion with Brian Shenson about the phase out of Integrated Office, new providers in OpenView Gateway, and the much anticipated timeline of Portfolio Connect. It’s an informative interview, and stick around for the tour of OpenView MarketSquare where I Brian and I practiced our sprints in the massive exhibit hall. And then on Monday this week, Riskalyze announced that the company secured $20 million in capital from FTV Capital to fuel its future growth. Here’s CEO Aaron Klein on how this additional capital will help Riskalyze execute on its mission. Aaron Klein: “Our mission every day is making sure that we’re empowering those advisors to really build fearless investors, to align the world’s investments with each investor’s Risk Number, and you know, for us finding the right partner to allow us to continue the incredible growth we’ve seen so far was the right move.”] SS&C to Acquire Leading Advisor CRM Solution, Salentica from PRNewswire [Next up is news from SS&C Technologies, which you should recognize as the company that acquired Advent Software for $2.7 billion earlier this year. Last week, SS&C announced it acquired Salentica, a professional services firm known for customizing Salesforce and Microsoft Dynamics CRM for institutions and large RIAs. Terms of the deal were not disclosed. So this acquisition is important for its vertical integration, as thousands of advisors who already use Advent or Black Diamond for portfolio management today should soon benefit from better integrations of Salesforce and Dynamics CRM all from the same provider. This also helps SS&C close the gap with a competitor like Envestnet | Tamarac, who has offered an all-in-one technology solution to advisors for several years. But on the other hand, not all advisors want to be captive to an all-in-one provider, and prefer the best-of-breed approach to their technology, so with Salentica now under the ownership of SS&C, we’ll have to see how the political aspects of this relationship play out in the near future. Nevertheless, I’m optimistic that SS&C will support Salentica’s integrations with a variety of portfolio management providers, but I definitely would proceed with a little more caution if my business used a solution other than Advent and Black Diamond.] SS&C Technologies Holdings, Inc., a global provider of financial services software and software-enabled services, today announced its acquisition of leading CRM solution Salentica. TD Ameritrade to Buy Scottrade in $4 Billion Deal from the New York Times, and TD Ameritrade Announces Essential Portfolios Robo-Advisor from BusinessWire [And finally, I’m wrapping up with two updates involving TD Ameritrade, starting with the announcement of the acquisition of Scottrade for $4 billion dollars, then followed up by the soft launch of Essential Portfolios, the company’s own automated investment service for retail investors. First, the Scottrade acquisition is likely to affect advisors with under $10 million in assets under management, as Scottrade has historically been welcoming of advisors with smaller accounts. So over the next year or two, I’d expect smaller advisors to be under pressure to grow their assets under management, or find another custodian altogether like Shareholders Service Group, or join a membership group like the XY Planning Network that leverages the size of its network to facilitate business with TD Ameritrade Institutional. Either way, I think it means structural changes are on the horizon for dozens of smaller advisory firms. And the second story about Essential Portfolios adds yet another retail-facing automated investment solution to the crowded marketplace. It features a $5,000 account minimum, fees of 30 basis points, and offers just five model portfolios, each made up of five ETFs, with allocations recommended by Morningstar Investment Management that are automatically rebalanced. Look, clients are getting bombarded with all this marketing about low-cost, automated, intelligent investing services from nearly every provider in the business. So unless your marketing pockets are as deep as theirs, you’re going to have to craft a message that your technology rivals that of the automated services, and that you offer advice and services that go way beyond what the low-cost solutions provide. Not only do you have to say it, but you have to do it.] TD Ameritrade announced on Monday that it would acquire Scottrade Financial Services, a rival discount brokerage, for $4 billion, in a bid for scale at a time when small investors are losing their taste for stock trading. Here are the stories that didn’t make this week’s broadcast: Web Design Pros Enter the Financial Advisory Industry with the Public Launch of Twenty Over Ten from MarketWired Twenty Over Ten, an unparalleled, compliant website-builder, today announced its formal public launch. Cofounded by Penn State Associate Professor of Graphic Design Ryan Russell and Designer and Developer Nick Dimatteo, Twenty Over Ten helps financial advisors create beautiful and compliant websites tailored to their unique brands. PIEtech℠, Inc. to Complete Deep Integration With Riskalyze Creating the Most Powerful Client Risk Analysis Experience from PRWeb PIEtech℠, Inc., creator of the leading financial planning software, MoneyGuidePro®, announced today that it is building a multi-faceted, deep integration with Riskalyze, the risk alignment platform founded upon the Risk Number®. Junxure Cloud, Riskalyze Announce Integration from PRNewswire Junxure, the industry leading CRM solution and technology company for financial advisors, this week announced new enhancements to its cloud-based CRM platform, Junxure Cloud®. As part of its ongoing work to integrate with leading platforms serving advisors, Junxure Cloud has partnered with Riskalyze, the industry-leading risk alignment platform and inventor of the Risk Number®, to integrate the two popular systems. Get LastPass Everywhere: Multi-Device Access Is Now Free! from LastPass I’m thrilled to announce that, starting today, you can use LastPass on any device, anywhere, for free. No matter where you need your passwords – on your desktop, laptop, tablet, or phone – you can rely on LastPass to sync them for you, for free. Passing the Baton, Again from Wealthfront After an amazing tour of duty, Adam Nash is handing the baton back to me [Andy Rachleff]. While Nash will be transitioning out of an operating role at the company, he will continue to play a strategic role as a member of our Board of Directors. FOLIOfn, Inc. Acquires Leading Responsible Investing RIA, First Affirmative Financial Network from PRNewswire FOLIOfn, Inc. announced today that it has acquired First Affirmative Financial Network, one of the nation’s most prominent registered investment advisor firms specializing in sustainable, responsible, impact (SRI) investing. Invessence and PrairieSmarts Partner to Arm Advisors with Better Risk Assessment Tools for Easier DOL Compliance from PRWeb.com Digital wealth management technology provider Invessence announced today that it has partnered with PrairieSmarts, an innovative risk analytics firm, to provide risk assessment tools for financial advisors and their clients. Enhancing Invessence’s comprehensive digital wealth platform, the robust risk tools from PrairieSmarts will assist advisors in calculating, documenting and managing the alignment of a client’s risk profile with a compliant portfolio recommendation. Watch FPPad Bits and Bytes for November 4, 2016…

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FPPad Bits and Bytes for October 14, 2016 6:07

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On today’s broadcast, one Wells Fargo broker loses her job after a client spoofing attack, Envestnet acquires Wheelhouse Analytics, and another day, another new robo advisor. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by Envestnet | Tamarac , providers of Advisor Xi, an industry-leading fully integrated web-based suite for RIAs. Tamarac’s Advisor Xi unifies portfolio management, modeling, rebalancing, trading, billing, and reporting with a fully customizable client portal and enterprise-grade CRM. On October 20th, two innovative and rapidly growing firms will share how they leveraged the Advisor Xi Suite in their business during an interactive webinar. Space is limited, so secure your spot today by visiting http://fppad.com/tamarac Here are the links to this week’s top stories: FINRA Disciplinary Action for Kathleen Kincade (enter Kathleen Kincade in the Individual Name search field) [Now October is National Cyber Security Awareness Month, so my first story is about an unfortunate cybersecurity incident involving a broker from Wells Fargo. According to a FINRA letter released this month, Kathleen Kincade was targeted by attackers who used spoofed client emails to submit three wire transfer requests for nearly $350,000, two of which were processed before Wells Fargo became aware of fraudulent activity. One wire transfer for $99,000 was reversed, but the company ultimately had to make the client whole for the remaining $250,000 that was transferred. The letter goes on to say that Kincade used Wells Fargo’s forms to falsely report that she verbally confirmed the wire disbursement instructions with the client, which was not the case. Now I know you’ve heard me say time and time again that attackers are impersonating clients and are targeting you to get you to send money where it shouldn’t go. So take this as a reminder that you need to continue to be vigilant and suspicious with respect to sporadic requests for client withdrawals, and always, ALWAYS follow a process to authenticate the identity of your client, usually with a phone call, or else you won’t allow any fund transfers to be processed.] Envestnet Acquires Wheelhouse Analytics from PRNewswire [Next up is news from Envestnet, as the company announced the acquisition of Wheelhouse Analytics in a move executives said will provide more insight on key performance indicators for asset managers, enterprises, and financial advisors. Terms of the deal were not disclosed, and I have to admit, Wheelhouse Analytics was not on my radar at all until this announcement, so I checked out their website and learned about their solutions for data analytics, online education, and document management for sales and business development. This is more business intelligence than it is financial technology, but I can see how Wheelhouse Analytics can connect to the data stored in the Envestnet platform and ultimately deliver timely insight to financial advisors. Also, think back to Envestnet’s acquisition of Yodlee last summer, and consider how data on client spending and consumption can generate key indicators on which clients might warrant a follow up phone call, versus those who are on a steady path to meet their goals. I think this is worth watching in the near future.] Envestnet, Inc. announced today that it has acquired Wheelhouse Analytics LLC, a technology company that provides data analytics, mobile sales solutions, and online education tools to financial advisors, asset managers and enterprises Zacks Advantage Form ADV Merrill Egde Guided Investing Form ADV [And I think it’s safe to say that my broadcast wouldn’t be complete without a little robo news, so up first, Zacks Investment Management announced the launch of Zacks Advantage, an automated investment service built on the Schwab Intelligent Portfolios platform that adds a bit of active management to balanced portfolio investing. The minimum account size is $5,000, and fees are 50 basis points for accounts up to $100,000, which drops to 35 basis points for accounts greater than $100,000 according to the Form ADV. And Bank of America offered more information about Merrill Edge Guided Investing, the company’s automated service that also has a $5,000 account minimum, but charges 45 basis points no matter how much money is invested in the account. So, I want to ask two questions about all this robo stuff. First, if all the other financial firms have a low-cost automated investing solution, why don’t you? If the solutions are so commonplace, prospects might think that your firm is behind the times because you’re not leveraging a solution that is offered pretty much everywhere else. But second, assuming you DO provide an automated investing solution, the next question you’ll face is why should a prospect choose your business over all the others, when they appear to do the same thing? And THAT is your opportunity to communicate why your business is different, identify your value proposition, and describe all the things you do that go far beyond portfolio asset allocation and frequent rebalancing. No robo solution can compete with that!] Watch FPPad Bits and Bytes for October 14, 2016…

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eMoney Advisor Summit 2016: Hack-a-thon Winner 7:56

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eMoney hosted its first-ever Hack-a-thon at this year’s Advisor Summit in Dana Point, CA. At the conclusion of the conference, four teams presented their solutions to a room full of judges and advisor attendees, where one team was ultimately selected as the winner of the hack-a-thon. Get my summary of each team’s hack-a-thon creation in the video above, and then see how the winner was revealed on stage to close out the event. (Watch the eMoney Hack-a-thon winner presentation video on YouTube)…

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eMoney Advisor Summit 2016: Hack-a-thon Day One 6:25

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eMoney is hosting its first-ever Hack-a-thon at this year’s Advisor Summit in Dana Point, CA. Four teams were assembled, made up of four eMoney product managers, developers, and engineers combined with a diverse group of nearly a dozen advisers to explore ways to push the eMoney roadmap. Witness the energy and activity of this event in the vlog embedded above, plus get a few tips on how to apply the design thinking process to your next brainstorming session. (Watch the recap of the eMoney Hack-a-thon Day One video on YouTube)…

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FPPad Bits and Bytes for August 26, 2016 6:03

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On today’s broadcast, get an update on LPL Financial’s technology roadmap, FutureAdvisor signs up the fifth largest bank in the US, Betterment forms a partnership with Uber, and more. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by Nest Egg Guru , a stress testing app for your clients’ retirement planning. Designed as an alternative to Monte Carlo simulations and calculating probabilities of success, Nest Egg Guru helps you tangibly quantify how client portfolios may hold up if future investment returns don’t pan out as expected. Sign up for a no obligation free trial at fppad.com/nesteggguru to see how this low-cost solution can complement the planning software you already use today. Here are the links to this week’s top stories: LPL placing heavy focus on technology improvements from InvestmentNews, and U.S. Bank Wealth Management Announces Partnership with FutureAdvisor to Offer Automated Investing Capabilities to Clients from BusinessWire [Now on to this week’s top story that comes from LPL Financial, as this week the nation’s largest broker-dealer held its annual LPL Focus conference in San Diego. I wasn’t able to attend the conference, but LPL CIO Victor Fetter kindly connected with me by phone to cover several of the key technology announcements made at the event. First, ClientWorks, the replacement for the existing BranchNet platform, is now available to roughly 11,000 advisors, up significantly from the 500 beta testers this time last year. Next, an updated account opening solution is anticipated soon which will streamline the creation of LPL account forms, pre-populate forms for clients with existing LPL accounts, and automatically fire off an electronic signature workflow. Fetter also highlighted a new Adoption Index score that advisors can use to gauge their own adoption of particular technologies and then identify areas where efficiency can be improved. And finally, lots of attention was given to Guided Wealth Portfolios, LPL’s automated investment solution powered by BlackRock’s FutureAdvisor platform expected to be available in early 2017. Fetter told me that advisors can choose to add their brand to Guided Wealth Portfolios as an extension of their existing business, or they can create a new brand as a separate, but complementary, platform for certain clients. Guided Wealth Portfolios will consist of ETF allocations managed by LPL Research and they will be visible in the ClientWorks dashboard. Clients can view their information using a mobile responsive website, but Fetter said a native app for iPhone or Android is not anticipated at this time. Oh, and I think fees for the service are still up in the air, so we’ll have to check back as the service gets closer to its official rollout. And speaking of FutureAdvisor, this week, US Bank, the fifth largest commercial bank in the United States, announced that it, too, will be using FutureAdvisor to power an automated solution for its clients with portfolios designed by, you guessed it, US Bancorp Investments. Like LPL’s Guided Wealth Portfolios, US Bank said the service is expected to be available in 2017, and fees for the service were not yet disclosed.] To stay up to date with technological innovations, the independent broker-dealer LPL Financial is developing more tools for its new adviser dashboard and implementing smarter automation. Uber Lets Drivers Hail an IRA with Betterment from the Wall Street Journal [Next up is news on Betterment, as this week the company announced a partnership with Uber, the multi-billion dollar global ride-sharing network, which allows drivers to open and fund a Betterment IRA account directly within the Uber app. Drivers get special fees, too, with their first year of Betterment completely free, and after that it’s 25 basis points per year on accounts below $100,000. So guess what? The stakes for client acquisition just went up, in fact, way up. Millions of people recognize Uber, and when they see a partnership like this, they have to be thinking, “Hey, if Betterment’s good enough for a huge company like Uber, it’s gotta be good enough for me.” And for Uber, they could have chosen anybody for this partnership. They could have teamed up with Vanguard, Schwab Intelligent Portfolios, or even *cough* FutureAdvisor, but no, they chose Betterment. So the way I see it, this is about distribution and decreasing client acquisition costs. Look, for years, industry commentators, myself included, have beat the drum about the high acquisition costs of automated investment services and how tough it is for robo advisors to actually make a profit. Well, if an automated service can immediately get exposure to hundreds of thousands of potential customers by getting embedded in another app, what’s to stop Betterment from getting embedded in the eBay app to invest your extra cash, or even into SnapChat right along side the SnapCash feature? That’s a pretty inexpensive, yet clever way, to acquire new customers. So welcome to the new front line in the battle for asset management, I hope your marketing team is up for the challenge.] Uber Technologies Inc. is partnering with robo advice provider Betterment Inc. to offer thousands of its drivers access to retirement accounts. Here are links to stories that didn’t make this week’s broadcast: In a world of software overabundance, Siftery offers clarity from Medium Siftery helps you discover the right software product for your business. Great software is a force multiplier for your job. And picking the right solution for your company will make you look like a rockstar. Guide Financial set to close operations on October 11 from FPPad Guide Financial, the financial planning startup acquired by John Hancock in June 2015, told its users via email this week that the company plans to discontinue operations on October 11. Integration Update: RiXtrema + Black Diamond Now Available from Advent SS&C Advent’s Black Diamond wealth platform is now integrated with Portfolio Crash Testing by RiXtrema, one of the advisory industry’s leading Portfolio Analytics/Risk Management solutions. Watch FPPad Bits and Bytes for August 26, 2016…

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FPPad Bits and Bytes for August 19, 2016 5:52

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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 . Top Stories Here are the links to this week’s top stories: Vanare, Redtail Streamline Account Opening for Financial Advisors and Their Clients via Marketwired, and Apex Clearing to Offer Vanare’s Digital Advice Platform from PRNewswire List of financial services CRMs with Zapier support: https://zapier.com/zapbook/redtailcrm/ https://zapier.com/zapbook/wealthbox/ https://zapier.com/zapbook/salesforce/ https://zapier.com/zapbook/microsoft-dynamics/ [Now on to this week’s top story that comes from Vanare, taking advantage of the slow summer to announce a new integration with Redtail Technology. Phase one of the integration is available today, which allows Vanare users to automatically create a new client record in Redtail CRM anytime a client completes the on boarding process in Vanare. Subsequent phases, being rolled out later this Fall, promise to support two-way data sharing between the applications to better synchronize data on client activity and status reports. But wait! You don’t have to be a Vanare customer to automatically populate new client records in Redtail. If you remember back in episode 185, Redtail announced its integration with Zapier, allowing you to use triggers in any application supported by Zapier to fire off an action in Redtail. Then in episode 186, I mentioned Wealthbox CRM’s Zapier integration. And if you subscribe to Zapier’s premium plan, you get support to automate actions in Salesforce and Microsoft Dynamics. So maybe it’s time to check the application you use for Zapier compatibility, and if they’re not supported, maybe you need to ask for it. Now, back to Vanare, I want to also point out an announcement from a few weeks ago about Vanare’s support for Apex Clearing. This is first time I’ve heard of while-labeled robo advisor solution for advisors that supports Apex, which is the same clearing firm used by many of the larger direct-to-consumer investment services like Betterment, Wealthfront, and Robinhood. Why is this important? Because other turnkey robo services for advisors use custody services from Folio Institutional, TD Ameritrade Institutional, and other, and when you look at their all-in custodial fees, I don’t think they are as competitive as Apex. Now you could elect to work with Apex directly on your own proprietary investment solution, but that takes time, expertise, development, and other resources that you probably don’t have, so that’s why Vanare’s offering that sits on top of Apex is worth taking notice.] Vanare, an innovative wealth management technology platform, and Redtail Technology, a leading provider of client relationship management (CRM) solutions for financial services firms, have launched an integration that will allow Vanare users to sync client contact information directly from their Redtail CRM. Salesforce Inbox gains calendar from Tempo acquisition from TechCrunch, and Salesforce acquires smart calendar app Tempo AI, will shut it down on June 30 from VentureBeat [Next up, I want to talk a little more about CRMs by talking about Salesforce, as this week the company announced an update to the Salesforce Inbox app . After last year’s acquisition of the calendar app called Tempo, Salesforce Inbox now has an enhanced calendar with one-click conference dialing, Sales Cloud data synchronization, and CRM record integration. Still absent, though, is the contextually relevant info about clients and prospects invited to a meeting that Tempo used to provide, which could include Facebook updates or changes to the LinkedIn profile of meeting participants. If this automated dossier concept sounds familiar, that’s because it’s similar to an app called Refresh that I told you about back in episode 159, which was subsequently acquired by LinkedIn, which is now part of Microsoft. Also, Salesforce acquired RelateIQ a while ago which powers the SalesforceIQ product with its trademarked Relationship Intelligence technology. So here’s my important takeaway: There are just some things you can’t remember or keep up to date with about each and every client you have. Solutions powered by Microsoft and Salesforce and others, which arguably resemble CRM software, do a lot of the heavy lifting in the background, so you can focus on relationship development and not mundane data gathering. Again, if you see how your business can be better with automated tools like these, you might want to mention it to your provider and be sure it’s on their road map.] Salesforce’s efforts to turn its Inbox app into a central resource for salespeople has a new trick: An integrated calendar built from its acquisition of Tempo that pulls in contact data from your Salesforce database, giving you a way to quickly find out more about the people you’re meeting with. Here are the stories that didn’t make this week’s broadcast: How Advicent’s new portal product stacks up from Financial Planning Portals are a hot topic in the adviser and fintech communities. Hearsay Launches New Social Media Tool for Advisors from ThinkAdvisor Hearsay Social says it is rolling out a client engagement platform that helps advisors reach clients and prospects more easily and more quickly via social media, their websites, email and text messages. Watch FPPad Bits and Bytes for August 19, 2016…

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FPPad Bits and Bytes for May 13, 2016 5:54

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On today’s broadcast, learn about top advisor technology from the Finovate Spring 2016, two lessons you should learn from a Salesforce database outage, hear top technology tips from industry experts, and more. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by Riskalyze , the company that invented the Risk Number and twice named as one of the world’s 10 most innovative companies in finance by Fast Company Magazine. Advisors use Riskalyze to show prospects they’re invested wrong and prove to clients they’re invested right. See how Riskalyze creates fearless investors by visiting riskalyze.com/fppad to book a guided tour. Here are the links to this week’s top stories: Client Insight for Wealth Management from IBM, and IBM Watson-infused robo wants to help advisers, not beat them from Financial Planning Envestnet Advisor Now demo from Finovate Europe 2016 [This week’s top story covers the Finovate Spring 2016 event held earlier this week in San Jose, California. With over 70 demos spread across two days, here are my picks for the most promising solutions for financial advisors. First is IBM, as the company demoed its Client Insight for Wealth Management solution, designed to deliver better insights about your clients powered by, you guessed it, IBM Analytics. The Client Insight dashboard segments your clients by their behavioral profiles, predicts the likelihood of clients experiencing a significant life event, and automatically generates a list of top actions clients should take to make progress on their financial goals. The analytics-powered insight is great, but it’s not yet clear to me if the solution is something you can buy today or if it requires an integration with the technology providers that you use, particularly with your CRM software. One third-party example I can think of is the automated investment service from Marstone, which to me, still seems to be evolving and appears to be rolling out at a very measured pace. So, if you want to start seeing some of these cognitive-powered insights in the tools you use, I think you need to prepare to spend a little bit more on your technology to make these benefits a reality. The second demo of note came from Envestnet, as the company highlighted Advisor Now, which is now being positioned as an online financial planning tool that can be white-labeled by financial institutions or you, the independent financial advisor. Advisor Now’s capabilities are quite a bit different than this time last year when the solution was first announced, as Envestnet is further leveraging its technology acquisitions of Upside, Yodlee, and Finance Logix. Next week I’m headed to the Envestnet Advisor Summit in Chicago where I plan to get more details on Advisor New, but in the meantime you can watch a recent Advisor Now demo from Finovate Europe] IBM offers you a whole new level of insight to serve your customers with the most relevant offerings that helps you drive new revenue. It enables you to segment your customers quickly and analyze their behavior to deliver cross sell/ up sell offers which helps increase loyalty, retention and customer satisfaction. Salesforce outage persists across US, CEO wades in from ZDNet, and The Burning Irony of Salesforce’s #NA14 Social Media Nightmare from Medium [Next up is news on Salesforce, as the company unfortunately suffered a failure in one of its critical databases this week affecting several thousand of its customers in North America. The outage of the NA14 database lasted for about a day and a half, causing many users to publicly vent their frustrations on Twitter. Closer to home, I didn’t hear from any advisors who were affected by the downtime, which is good, but there are still two lessons I want you to take away from this incident. First, when you use any cloud-based system, especially a CRM, be absolutely certain that you have an offline backup of the critical information you need to take care of clients. Make it part of your process now to export data like names, phone numbers, and email addresses so you can stay in touch with clients if and when your online systems have extended downtime. And second, make plans now for what you’re going to do when your firm experiences a crisis. How will you contact clients? Will you post information on your website, or provide updates on Twitter? Whatever you do, identify your process in your disaster recovery and business continuity plan, and if it’s been a while since you tested your communication in a crisis, well, you might want to do something about that.] A Salesforce database failure has left some clients unable to access their services across the United States, prompting the firm’s chief executive to step in. 2016 SSG Conference Technology Panel from YouTube [And finally, wrapping up this week’s broadcast is news from Shareholders Service Group, as I attended their annual conference in San Diego a few weeks ago. One of the general sessions I attended was a panel discussion on technology opportunities that lie ahead for independent financial advisors, so I caught up with each of the panelists, Greg Friedman of Private Ocean, Dave Welling of SS&C Advisory Market Group, Tim Welsh of Nexus Strategy, and Joel Bruckenstein of Technology Tools for Today, to get their main takeaways from the session and hear best advice for advisors from a technology perspective. The full video from the event is embedded over on website along with a few additional stories that didn’t make this week’s broadcast.] Here are stories that didn’t make this week’s broadcast: Docupace Closes on Management Buyback Transaction from BusinessWire Docupace Technologies LLC, a premier digital compliance and cyber security company in the financial services industry, completed its planned repurchase of the majority interest in the company previously held by RCS Capital Corporation. New Marketing Materials from Hidden Levers HiddenLevers now provides pre-made marketing materials that can be used with clients. These include printable brochures, embeddable videos, website and signature plugins. Watch FPPad Bits and Bytes for May 13, 2016…

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FPPad Bits and Bytes for May 6, 2016 4:53

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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…

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FPPad Bits and Bytes for April 29, 2016 5:06

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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…

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FPPad Bits and Bytes for April 15, 2016 5:47

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On today’s broadcast, LPL Financial hooks up with BlackRock’s FutureAdvisor, Riskalyze and Advizr integrate their platforms, and bots might be the future of financial technology. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Today’s episode is brought to you by Twenty Over Ten , providers of beautiful, tailored, mobile responsive websites specifically for Financial Advisors. Easily manage your brand while automatically archiving your website changes for compliance. Sign up for a 45 day free trial today by visiting twentyoverten.com/fppad . Oh, and be sure to watch the YouTube channel for videos from next week’s NAB Show, which are also brought to you by Twenty Over Ten. Here are the links to this week’s top stories: LPL Financial to Leverage BlackRock Solutions’ FutureAdvisor to Offer Robo Solution to Advisors and Their Clients from LPL Financial [Now on to this week’s top story which comes from LPL Financial, as the nation’s largest independent broker-dealer announced it will use BlackRock’s recently-acquired FutureAdvisor platform to power an online automated investment offering. LPL first hinted at its plans for a “robo advisor” back in the summer of 2015 at its annual Focus conference, which was roughly one month before BlackRock made its FutureAdvisor acquisition. While the announcement sure generated some buzz, no details on specific pricing or availability were provided. What the press release did say is that the model portfolios will be provided by LPL’s research department, so at least initially, advisors and reps will not be able to create their own custom allocations. The press release also said the automated solution will be integrated with LPL’s custodial platform, but it didn’t say if that was the existing BranchNet platform or the much-anticipated ClientWorks, which as far as I know, has still not been officially released. So at least we now know what LPL’s robo strategy will be, but with so many forward-looking statements, we don’t know when that strategy will be ready for use by LPL’s financial advisors.] Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today announced it will use BlackRock Solutions’ (BRS) FutureAdvisor platform to support a digital advice platform for use by LPL’s financial advisors and institutions and their clients. A Match Made in Heaven: Advizr and Riskalyze Integrate from Businesswire [Next up is news from Riskalyze and Advizr, as the two companies announced a new integration to streamline financial advisor workflows. The new integration will import Riskalyze model portfolio sets into the Advizr financial planning software, allowing advisors to recommend the most appropriate asset allocation according to their client’s personal Risk Number. Not only that, both companies offer effective lead generation tools for advisors, with Riskalyze offering prospects the opportunity to determine their own Risk Number, and Advizr offering a quick financial plan illustration with Advizr Express. The combination of the two will help advisors gain more information about prospects’ risk tolerance and the building blocks of a complete financial plan. The companies called the integration “a match made in heaven” because both of them are winners of the Best Client Facing Technology award announced right here on FPPad. So as a result, and I am now officially accepting endorsements for matchmaking on my LinkedIn profile.] Advizr, the financial planning software recognized as the Best Client Facing Technology of 2015 by Bill Winterberg’s FPPad, and Riskalyze, the world’s first Risk Alignment Platform recognized for the same award in 2014, are integrating their award-winning products to provide an elegant, intuitive and seamless solution to financial advisers. Messenger Platform at F8 from Facebook.com [And finally, this week’s top story comes from the future, oh wait, “THE FUTURE!” as Facebook CEO Mark Zuckerberg took the stage at this week at F8 conference and detailed the company’s roadmap for the next 10 years. My best takeaway for you is the launch of the Messenger Platform that includes automated messaging powered by bots, no, not that bot, these are automated messenger bots. With bots in messenger, you can make online clothing purchases, receive weather forecasts, view top headlines and more. I can totally see bots making their way into your technology. Imagine if you could ask your Redtail bot when you next client meeting is scheduled, or your Orion bot how your AUM has grown over the past year, or even allow clients to ask the MoneyGuide Pro bot for their updated retirement confidence meter. How cool is that?!? And if vendors eventually integrate bot into existing services, I bet that they’ll also include message archiving and retention so you can confidently use bots without violating your compliance requirements. Oh, did I just give those vendors a little more work to do? I’m sorry! Unfortunately there’s no word yet from FINRA or the SEC whether your bot has to be fingerprinted and subject to a background check. Thank you, I do two shows a night!] We’re excited to introduce bots for the Messenger Platform. Bots can provide anything from automated subscription content like weather and traffic updates, to customized communications like receipts, shipping notifications, and live automated messages all by interacting directly with the people who want to get them. Here are stories that didn’t make this week’s broadcast: Former Top Schwab Executive Joins Betterment Board from New York Times Less than one month after an investment round that doubled its private valuation to around $700 million, the robo-adviser Betterment is adding a former top executive from Charles Schwab, John S. Clendening, to its board. Find time for your goals with Google Calendar from Google That’s why starting today, we’re introducing Goals in Google Calendar. Just add a personal goal—like “run 3 times a week”—and Calendar will help you find the time and stick to it. Orion’s Integration of FactSet’s Robust Research and Analytics Allows Advisors to Better Serve Their HNW and Institutional Clients from Marketwired Orion Advisor Services, LLC (“Orion”), a premier portfolio accounting service provider for financial advisors, has announced it is now integrated with FactSet, a leading provider of financial data, analytics, and service, to offer its advisor clients easy access to portfolio research and analytics. Watch FPPad Bits and Bytes for April 15, 2016…

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FPPad Tech Tour: inStream Solutions 15:51

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Our second stop in Washington DC is a visit with Alex Murguia and John Wotowicz of inStream Solutions. Hear how the need for a different approach to financial planning inside McLean Asset Management expanded to a dedicated wealth management solution for all financial advisors. (Watch FPPad Tech Tour with Alex Murguia and John Wotowicz of inStream Solutions on YouTube) Donate to the Foundation for Financial Planning and view more FPPad Tech Tour content online at http://www.fppadtechtour.com/ FPPad Tech Tour is brought to you by the following Back Stage Sponsors: Envestnet|Tamarac: http://www.tamaracinc.com Orion Advisor Services: http://www.orionadvisor.com Redtail Technology: http://corporate.redtailtechnology.com CHAPTER MARKERS: 0:10 FPPad Tech Tour Intro 0:43 inStream introduction 4:27 What prompted the move to make inStream a product for all financial advisors? 6:28 What are the important personal attributes of Alex Murguia? 7:20 Introducing John Wotowicz 9:38 How John applies his passion to the growth of inStream 11:20 How will inStream push the envelope of financial planning software in the future? 13:14 inStream announces match for contributions to the Foundation for Financial Planning…

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On today’s broadcast, Betterment launches 401k plans for business, Morningstar updates its iPad app for advisors, Vestorly raises a new venture capital, and more. So get ready, FPPad Bits and Bytes begins now! (Watch FPPad Bits and Bytes on YouTube) Betterment for Business Officially Launches and Announces Advisory Board from PRNewswire.com [This week’s top story features Betterment, as the automated investment service announced the official launch of Betterment for Business, the company’s 401(k) plan for employers. Earlier this month, Betterment for Business received a very strong endorsement from the founder of a start-up called Estimize, saying the plan was so easy to set up that it could potentially crush the 401(k) industry. With plan fees ranging from 60 basis points all the way down to 10 basis points for billion-dollar plans, and an interface built for ease of use, Betterment’s offering might actually be one that you recommend to your small business-owner clients, and you might even consider it for your own company’s 401(k) needs. Among large 401(k) plans, established providers like Vanguard, Fidelity, and Financial Engines have a sizable advantage, but underserved companies establishing their first 401(k) plan should see Betterment as a very attractive solution. This reminds me of how Betterment targeted young underserved investors back in 2010… huh.] Betterment, the largest automated investing service, today announced the official launch of Betterment for Business. The new 401(k) platform, which uses smarter technology and includes personalized investment advice for all plan participants, is now live for a charter group of plan sponsors and participants. Started our 401K plan for @Estimize with @betterment today, was so easy to set up, amazing product, gonna crush that industry — Leigh Drogen (@LDrogen) January 4, 2016 Preview Morningstar’s new iPad app dashboard for advisors from Morningstar Sigma Prime leads Series A round for Vestorly from PEHub.com Vestorly, Inc. the leading content marketing platform in financial services headquartered in New York City, today announced a Series A round of funding of $4.1 million. New cloud storage options for Office mobile and Office Online from Office.com Today, we’re making Office even easier for customers to use with cloud storage providers by adding real-time co-authoring with Office Online for documents stored in partner cloud services, extending our Office for iOS integration to all partners in the CSPP, and enabling integration between Outlook.com and cloud storage providers Dropbox and Box. Watch FPPad Bits and Bytes for January 29, 2016…

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