FPPad Bits and Bytes for November 8, 2013: The week’s best financial planning technology news

Go get your flu shot, now! On this week’s broadcast, get up to speed
on all the developments from the T3 Enterprise Conference, find out which portfolio rebalancing
company just acquired a portfolio management software provider, and another CRM with a
long history with advisors gets a fresh start in the cloud. So get ready, FPPad Bits and Bytes begins
now! Hey everyone, I’m Bill Winterberg and thank
you for spending the next few minutes with me to get your update on the week’s best
technology news. This week’s episode of Bits and Bytes is brought
to you by Mimic Technologies, providers of complete outsourced technology support, security,
infrastructure and IT solutions exclusively for RIAs. To learn how you can keep your data
safe from attackers, download a free copy of their latest white paper on social engineering
attacks by visiting fppad.com/mimic. First up this week is a recap of the first-ever
T3 Enterprise Conference for broker-dealers and financial enterprises. T3 Enterprise is
modeled after the T3 Conference for financial advisors, now in its 9th year, and in full
disclosure, I co-produced T3 Enterprise along with Joel Bruckenstein and David Drucker. If you weren’t able to attend or follow
the conference hashtag on Twitter, here’s what you need to know: Redtail, the leading provider of cloud-based
CRM to advisors, unveiled a new platform called Redtail Data Cloud. Redtail Data Cloud aims
to tackle the challenge of making sense of “big data” present in disparate or poorly
integrated technology solutions, and generate valuable, meaningful insight that was generally
only possible after pouring over custom spreadsheets for hours upon hours. Redtail Data Cloud collects over 500 unique
data points across its CRM, email, and document imaging products, and also collects data via
integrations with Riskalyze, Advisor Websites, Advisor Deck, ActiFi, and MoneyGuidePro. Look
for the platform to debut for both advisors and broker-dealers this January. Also, two companies exited stealth mode at
the conference by introducing new promising products. The first is CleverDome, is a Scottsdale,
Arizona-based startup born from the back-office of United Planners Financial Services. Their
two new solutions, SOAR, or Source of Accurate Record, and miVu, or Media Integrated View
Unification, are best described as document management tools that are invisible to the
user, so if that doesn’t make you at least a little curious about what they do, I don’t
know what will. And second to emerge is Gotham Tech Labs,
led by John Rourke, who introduced two new stand-alone products, WealthBox CRM and WealthBase.
WealthBox CRM is intended to be a simple CRM with a streamlined interface, but with powerful
social and collaborative workflows. WealthBase is an inbound marketing network intended to
connect financial advisors with consumers seeking feedback and engagement on their financial
needs. There’s a lot to learn about all these new
products and announcements, so head over to fppad.com/111 to get links to all the articles
covering the T3 Enterprise Conference. The next story is news hot off the presses
from Total Rebalance Expert, the San Diego-based portfolio rebalancing software provider. In
a press release issued just today, TRX announced that it acquired the PowerAdvisor portfolio
management software solution from Portland, Oregon-based Cornerstone Revolutions. PowerAdvisor
will be rebranded as TPX, or Total Portfolio Expert, and TRX will continue to support over
100 firms that use portfolio management software every day in their business. Financial details of the acquisition were
not disclosed, but this deal will likely offer advisors with a tightly integrated portfolio
management and rebalancing software package, a single resource for customer service and
back office support, and a very capable solution offered at a very compelling price point. And finally, this week’s broadcast wraps
up with an update on ProTracker software, providers of desktop-based CRM to advisors
for over 16 years. In his technology column for Financial Planning magazine, Joel Bruckenstein
reviewed ProTracker Cloud, the latest CRM to introduce a cloud-based solution, which
is built on top of the SugarCRM platform. This is similar to the concept of overlays
from XLR8 and AppCrown, which both customize the out-of-the-box Salesforce platform and
tailor it for the wealth management environment. Warren Mackensen, president of ProTracker
Software and also an active fee-only financial planner, certainly has the experience of knowing
what it takes to run a successful advisory business, so I’m optimistic that he’ll
be able to introduce SugarCRM, which hasn’t yet gained much traction among advisors, as
a viable contender among cloud-based CRMs. To read Bruckenstein’s full review of ProTracker
Cloud, as well as all of this week’s top stories, visit fppad.com/111 for all of the
links. And remember, Bits and Bytes wouldn’t exist
without the support of our partners, so visit Mimic Technologies to learn more about their
outsourced technology and IT solutions for RIAs. Download their latest free white paper
on social engineering attacks by visiting fppad.com/mimic. I’ll be busy attending the Schwab IMPACT
conference next week, so look for the next Bits and Bits episode in two weeks. Sign up
at fppad.com/subscribe right now to make sure it gets delivered right to your email inbox. Thank you for your support and well wishes
as I’ve slowly recovered from the flu, so remember to get your flu shot, and keep the
dialog going on Twitter using @billwinterberg or search for me on Google+ For FPPad.com, I’m Bill Winterberg, see you
next time.

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