Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with a recap of the recent Technology Tools for Today (T3) Advisor technology conference, which includes many notable announcements, from a new Orion rebalancing software solution, to major new Riskalyze features, and the news that eMoney Advisor will be integrating into Schwab OpenView Gateway, putting to rest the ongoing concerns about whether eMoney Advisor would remain open and cross-custodian after Fidelity acquired it two years ago.
From there, we have several more articles on advisor technology, including: a deeper look at the latest Riskalyze features, from the new Premier solution, to its new Autopilot Partner Store (a former of TAMP supermarket delivered through rebalancing software); how Wealthbox CRM got $6M in venture capital to scale up its CRM solution for financial advisors (which is already ranked 4th in market share amongst independent RIAs); a review of EverPlans, a software solution that advisors can provide to clients to help them organize their estate plan (or give to prospects as a way to reach them to potentially do business together); a look at how the IBM Watson artificial intelligence solution is going to be used by H&R Block this tax season to facilitate tax planning strategies and advice; and a review of some robo-advisor “competition” to financial advisors, including E*Trade Adaptive Portfolio and Fidelity Go.
There are also a couple of marketing-related practice management articles this week, from a look at which types of financial advisor niches are currently most popular (hint: those that focus on baby boomers and their retirement dollars) and which might become more popular in the future, when it makes sense to hire an outside marketing expert, and an interesting question you can ask prospective clients in an approach meeting to engage them and better understand what their needs are and how you can help.
We wrap up with three interesting articles: the first is a review of the recent family memoir of Frances Stroh (of Stroh beer), which details how the family’s $9 billion fortune wasted away in a catastrophic failure of internal family succession planning (even after having already survived to the third generation from the original founder in the 1850s); the second is a look at check-cashing and payday lending services, which have a reputation for being expensive or downright predatory, but a new analysis finds that in reality the services may be succeeding because they’re actually superior on cost, transparency, and service, to traditional banking (at least for those they seek to serve); and the last article is a look at one personal finance blogger’s “financial philosophy core tenets”, which is notable not just for the tenets themselves (which are quite good!), but as an example of an exercise that financial advisors might consider going through to create and share with their own clients and prospects!
Enjoy the “light” reading!