Financial Advisor Marketing & Technology

Marketing & Technology For Independent Financial Advisors

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Archive for November, 2011

PortfolioCenter And Advent Reporting Integration With AdvisorVault Is Improved

AdvisorVault Desktop Connector makes it much easier for RIAs to post documents to client vaults and streamlines batch uploading of performance reports from Schwab PortfolioCenter or Advent Axys.

With AdvisorVault Desktop Connector, sharing documents securely with clients has never been so easy. There’s no need to open a browser, log in to a vault application, browse to a client’s vault, and browse to the file you want to upload. The drag and drop capability means advisors can routinely share documents with clients and outside professionals throughout the business day as part of their routine workflow.

In addition to enabling drag and drop, Desktop Connector makes it much easier to upload a batch of client performance reports generated in Schwab PortfolioCenter or Advent Axys.

Till now, now advisory firms using AdvisorVault’s integration of Schwab PortfolioCenter and Advent Axys could use an FTP process to upload a batch of client reports. Now, advisors can simply drag and drop the batch of reports and they will automatically be placed in the correct client folders.

Desktop connector is a desktop application that displays all of your client vaults on your desktop, and it is similar to accessing folders on your computer using Windows Explorer. Desktop Explorer comes free with AdvisorVault.

This two-minute video shows you how it works.

Albridge Custom Portfolio Performance Reports Now Integrated Into AdvisorVault

Custom portfolio reports in Abridge Solutions, the performance reporting system used by most independent broker/dealers and advisors, are now integrated into AdvisorVault.

Albridge custom reports are used by advisors for “householding” client accounts. Several individuals can be grouped and all their accounts displayed in a single report.

For example, an advisor managing the assets of parents as well as their three children and 10 grandchildren can create a custom report in Albridge to consolidate reporting on the family’s holdings, asset allocation, and portfolio performance into one statement.

AdvisorVault now enables 24/7 Albridge custom reports to clients of advisors.

Until now, AdvisorVault was able to pull in Albridge reports on individual clients but custom reports were unavailable.

AdvisorVault’s integration enables advisors to send clients to their firm’s website to view performance reports. That’s better for an advisor than sending clients to Albridge’s website because AdvisorVault brands the reports to your firm.

More important, however, is that in addition to Albridge portfolio reports, advisor clients can view their financial plans, tax returns, insurance policies, and other documents in AdvisorVault. Clients get a holistic view of their financial situation, reminding them that investment management is just one aspect of the services they receive from their advisor.

AdvisorVault gets rave reviews for its collaboration features. Advisors can easily share client folders with accountants and lawyers, which helps an advisor quarterback a team of professionals for a client and builds a financial advisor’s professional network.

 

AdvisorVault is used by about 700 private wealth RIAs. A growing number of independent broker/dealers, including American Portfolios, Cambridge Investment Research, and Raymond James Financial allow advisors they supervise to use AdvisorVault and it is becoming popular with top-tier of advisors at independent broker/dealers.

AdvisorVault comes as a standalone application that can be added to any advisor website for $1000 a year, or it comes free with a Platinum advisor website, which also content, service, and compliance tools for $2,337 annually.

Content Based On Fritz Meyer’s Research Now Comes With Advisor Websites

Articles and videos based on research from financial economist Fritz Meyer will soon come with an Advisor Products Platinum website.

Meyer’s monthly analysis of the economy and investment markets is popular with advisors using strategic asset allocation and broad diversification.  Every month, Meyer produces a 70-slide PowerPoint presentation that examines key fundamental economic factors driving investment markets. Hundreds of independent financial advisors view his monthly webinars and give Fritz rave reviews.

Now, Advisor Products, a leading website platform for investment advisors, is using Meyer’s research to create content for advisor clients.

Advisor Products is integrating Meyer’s ideas into websites we host for investment advisors. We’ll create articles and videos monthly that can be posted to an advisor website automatically. The additional content will be available on all “Platinum” advisor websites hosted by Advisor Products. (See a sample of a video for clients below.)

Fritz Meyer’s valuable research is the latest improvement to be offered as part of the $2,100 annual Platinum license from Advisor Products. Additional Platinum website benefits include:

  • 256-bit encrypted AdvisorVault for secure document-sharing with clients and COIs
  • content management system for editing your website
  • automated website archiving
  • FINRA-reviewed personal finance article database
  • FINRA-reviewed video library branded to you
  • eight hours of support
  • 10 email accounts
  • stock market data streamed throughout the day
  • redundant infrastructure
  • SAS 70 Type II hosting facility
  • Social media content stream
  • Fritz Meyer content

Beginning January 1, 2012, the annual fee for Advisor Products Platinum will increase from $2,100 to $2,337. In the seven years since our last price increase, Advisor Products added the following to Platinum advisor websites:

  • AdvisorVault 2.0 secure document sharing
  • AdvisorVault Desktop Connector
  • Branded videos
  • Monthly Fritz Meyer content
  • Automated website archiving
  • Social media content stream
  • Event calendar
  • Five additional email accounts

For advisors who want to create their own blogs, articles, and slide shows, the full monthly PowerPoint Fritz Meyer Slide Show continues to be available monthly for $50.

 

For BDs, Compliance Is Only A Start In Advisor Use Of Social Media

Erado, makers of social media compliance platform for independent BDs and investment advisors, today announced it has been tapped by Investacorp, Inc., an independent broker-dealer subsidiary of Ladenburg Thalmann Financial Services Inc.

Erado looks like it’s a fine compliance app and I hope to get to work with Erado, but compliance apps do not get an advisor to change his behavior and suddenly become active on social media.

Maybe 1% of an independent broker/dealer’s advisors will actually figure out how to parlay a new social media compliance platform into client acquisition.

To it credit, Investacorp has now made it possible for its affiliated advisors to communicate and engage in business development using LinkedIn, Facebook, and Twitter. Erado’s platform allows Investacorp to track and archive its advisors’ social media activity. It’s a good thing for sure.

FINRA regulatory notice 11-39 requires diligent record-keeping and supervision of social media content from mobile and other devices, and I’m sure Erado has a solution addressing that.

However, working with an app that ensures compliance when an advisor uses social media is totally different from getting an advisor to create his own engaging social media content that is consistent with a strategic marketing plan.

My guess is that the vast majority of advisors—probably 80%—will not in the next 12 months change their behavior enough to benefit from social media marketing. Maybe 20% of advisors will put in enough effort to benefit from social media in 2012, with an emphasis on “maybe.”

Advisor Products, which has been focused on helping advisors use social media for several years, is  launching an automated and integrated social media content stream for financial advisors in 2012. Details will be announced shortly. (If you’re responsible for helping groups of successful advisors market their services, give me a call to talk about this.)

Point is, for BDs, social media compliance is only part of the equation in helping advisors use social media for business development. I’m not sure BDs appreciate what’s needed beyond compliance.

Advisors Can Share Any Document Securely With Clients With AdvisorVault Desktop Connector

Financial advisors can now drag and drop any file on their desktop to a client’s vault.

With the launch this week of AdvisorVault Desktop Connector, Sharing documents securely with clients has never been so easy.

There’s no need to open a browser, log in to a vault application, browse to a client’s vault, and browse to the file you want to upload.

The drag and drop capability means advisors can routinely share documents with clients and outside professionals throughout the business day as part of their routine workflow.

DesktopConnector is the latest enhancement to AdvisorVault, which is a fully encrypted web-based system enabling secure sharing of personal financial documents with clients, estate planning attorneys, and accountants.

AdvisorVault Desktop Connector lets advisors view all of their clients’ vaults and drill down in each vault’s folders right on their desktop without opening a browser.

Compatible with Windows operating systems, is available at no additional charge to AdvisorVault users.

AdvisorVault integrations with Schwab PortfolioCenter, Advent Axys, Albridge Solutions, AssetBook, CabinetNG, MoneyGuide Pro, and other leading professional applications imports client reports in batches.

AdvisorVault is used by more than 400 advisory firms and offers features and workflows that make advisory firms more efficient and better able to communicate personal information to clients.

For more information, please contact us.

Intermittent, Random Bug Affecting Some Sites; Testing And Maintenance Overnight

A recent upgrade of hardware and software is causing a random intermittent problem with websites.

We will be doing maintenance and testing overnight and your site may experience some down time.

Please email service@advisorproducts.com if your site’s loading slowly tomorrow.

We apologize for the inconvenience and are working hard to fix the problem.

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