Financial Advisor Marketing & Technology

Marketing & Technology For Independent Financial Advisors

Flower

Archive for July, 2012

How Is Advisor Products Different?

I was on the phone with an advisor today who asked me why he should not choose a less expensive advisor website vendor or hosting service.

I showed him AdvisorVault and how he could easily and securely provide clients information about their portfolios, financial plans, and estate plans — information about their future and the future of their families.

Then, I showed him an article that we posted to advisor websites and social content stream a day ago or two entitled, “Is Media Biased Toward Bad Financial News.” Here’s a snippet:

Headlines about the economy in July sounded dire. “IMF Says Doubt Weighs On Economy,” reported The Wall Street Journal. “Economy Looks Weaker As Retail Sales Slump,” said The Boston Globe. “Fiscal Cliff Could Trigger U.S. Recession: IMF Economist,” according to a CNBC story.

“‎While the U.S. economy indeed was not growing briskly this summer, it was growing, and gloomy headlines belied reasons for optimism. Here are counterpoints to bad news and recession-mongering, reasons to expect that a slow-growth recovery will continue.”

The article, like all the stories we provide on advisor websites and for use on social media by advisors, reflects the perspective of an advisor. When you link to articles in the press, they don’t have your perspective. They want to sell papers and get eyeballs.

In addition, the article was submitted for expedited FINRA review, a process we go through every month so that we can post timely news for use on advisor websites and newsletters. Even if you’re an RIA with no BD, FINRA’s review helps ensure nothing promissory, unsubstantiated, or outlandish goes to clients.

The article, which provides details on seven pieces of good economic news, is based on authoritative sources, in this case, ideas from economist Fritz Meyer. The story presents a well-reasoned analysis based on data.

The Web has created an information explosion so loud that rising above the din is extremely difficult. The only way you can hope to get through is by providing real knowledge and valuable ideas. Imparting valuable information about your clients’ wealth is the kind of marketing to which advisors should aspire, and that’s what makes Advisor Products different.

 

 

Batch Upload Invoices And Other Documents And Deliver Them Securely To Each Of Your Clients

RIAs can now batch process invoices and other documents using a new feature in AdvisorVault. The “batch upload” feature lets you process documents created in just about any application and deliver them securely to each individual client’s vault.

RIAs usually produce some documents and reports en masse for all clients. Billing statements, tax analysis, and portfolio reports are often produced in a batch of 50, 100 or 500, for example. Being able to securely deliver such documents in a single upload streamlines your operations, saves time, and increases communication with clients about their personal financial data.

The new batch upload feature in AdvisorVault allows you to upload for all your clients in a single upload, and yet each document is automatically be posted to each client’s vault. In addition, AdvisorVault can automatically notify each client about the upload in a personalized email from you that also also sent en masse.

The batch upload feature works with Microsoft Word, PowerPoint, Excel and other documents, including Adobe PDFs,and it also works with any professional software you use for performance reporting, financial planning, billing or other internal tasks.

The batch upload feature parses client files based on a unique identification number. AdvisorVault uses that unique identification number to drop each document into the corresponding client’s vault. After a batch upload is set up one time, you can upload use the batch process for that file again anytime. An AdvisorVault technician helps you set up your upload the first time.

You can batch upload to any folder in AdvisorVault that you designate and can set a deletion date for each batch.  For example, you can set invoices posted in batch today to be deleted on January 1, 2014.

While the batch upload feature allows an advisor to batch process reports from any application, this is not the same as using AdvisorVault’s XML batch process. AdvisorVault’s integration with Advent Axys, AssetBook, and PortfolioCenter batch processes client performance reports to create dynamic HTML reports, which provide a more interactive user experience in your performance reports.

With some RIAs telling us their state regulator is now requiring them to show proof that their clients have viewed their quarterly invoices, the batch uploading to  AdvisorVault could become more important. Please let us know if you would like us to develop a report allowing your firm to see which clients did not view their quarterly invoices. If there is heavy demand for this report, we’ll accelerate development of this feature.

AdvsorVault’s batch upload software costs $1,000 a year and setting up each batch process costs $300. Call us at 516-333-0066 ext. 224 for a demonstration.

 

Social Media Content Stream For Advisors Doubled Unique Visitors To RIA’s Website

Charles D. Jones Capital Management, an RIA in Waco, Texas, says Social Media Content Stream For Advisors from Advisor Products is doubling unique visitors to its website.

“The data is pretty compelling,” Jones said in an email to me last week. “It explains itself better than I can.” Jones sent data from his Google Analytics account showing that unique visitors to his website doubles on days when he uses the wealth management content stream provided by Advisor Products.

Advisor Products released Social Media Content Stream For Advisors to beta testers eight weeks ago. It automatically posts status updates (also called “tweets”) to an advisor’s social networks. The 140-character updates link to wealth management articles and videos created by Advisor Products and posted to an advisor’s website. When your social connections see a status update in which they’re interested, they can click on a link embedded in the status update and it takes them to your website to read the full article.

Social Media Content Stream For Advisors is administered using a social media dashboard. The dashboard lets you schedule your tweets. So you can long in once a week or once a month and schedule all your tweets to be posted once a day. You can also rewrite the tweets and target them to your local market or niches, which will help with search engine optimization. Alternatively, you can your dashboard settings can automatically post your status updates and run on “autopilot.”

If you are an Advisor Products Platinum client, Social Media Content Stream For Advisors is free. Please email us to turn on your social media dashboard. You can add archiving of all your social media content for $348 annually by taking advantage of our partnership with Erado.

 

 

You are currently browsing the Financial Advisor Marketing & Technology blog archives for July, 2012.