Save the date! T3 Technology Conference for Financial Advisors - Feb 10-12, 2016 - Florida

Visit now: www.TechnologyToolsForToday.com

When Portfolio "Crash Testing" and Goals-Based Financial Planning Merge

This interview with Bill Winterberg, founder of fpPad, and Daniel Satchkov, CFA, president of RiXtrema, a portfolio crash testing system for financial advisors and financial institutions, while at the T3 Enterprise conference in Atlanta last week reminds me of ...

A Reese's Peanut Butter Cup: The marriage of portfolio crash testing with financial planning goals is a perfect combination. Totally delicious!

Satchkov gives a shout out to Robert M. Wyrick, Jr., managing member of MFA Capital Advisors in Houston; Wyrick's suggestion for the marriage created the initial development spark.

Watch this 2 minute video now:

Why Financial Advisors Need Digital Documentation

I've been learning more about mobile dictation - both the benefits and the risks.

This article published November 13, 2013, by Financial-Planning.com "Why Advisors Need Digital Documentation" focuses mostly on the benefits ... but there are also risks.

If you missed the webinar I hosted earlier this week in partnership with Dr. David Lawrence, founder of The Efficient Practice, you might be interested in accessing the following:

Mobile Dictation Risks - Webinar recording
http://tinyurl.com/mobiledictationriskshttp://tinyurl.com/mobiledictationrisks

Mobile Dictation Risks - Slides as PDF
http://www.4shared.com/office/hY4Xyu1i/Mobile_Dictation_Services_Webi.html

Mobile Dictation Risks - Research Paper written by Dr. Lawrence
http://download.copytalk.com/technicalbrief/dl_whitepaper.pdf

Interesting analysis from "the efficiency doctor".

See also these posts with comments from industry thought leaders JoAnn Day of Trumpet, Inc. (a workflow expert) and also Ron Carson of Peak Advisor Alliance (a Barron's top advisor and advisor coach):

Day's comments in Journal of Financial Planning article - Your fairy godmother is here to grand you 3 productivity wishes: http://ow.ly/qT5iC

Read Carson related post: http://ow.ly/qT55q
Listen to audio w/ Ron Carson at live event: http://ow.ly/qT55r

Finally, here's another interesting / related post on the T3 Enterprise Conference blog: http://blog.financelogix.com/conference/?p=62

See you in Denver September 13-15, 2012!

First - Register for the Business & Wealth Management Forum

produced by Bob Veres and T3. Go to www.SignUpForConference.com and 

enter "ImpactVIP" to save $100 off the prevailing rate. 

Then - Sign up for your video time slot below. 
 Space is limited to the first 16 people who sign up. 

You tell me. Which makes the best impression? 

[   ]  Video A? (taken with iPhone, no lights, no microphone) - http://ow.ly/cE6bd 

[   ]  Video B? (shot with high-def camera, with lights, with microphone) - http://ow.ly/cE6Ce

In preparation for your video interview:

1. Consider what to wear. Prepare to look your best.

2. Consider what to say. Marie Swift can work out a few questions with you when you arrive or you can bring them to her (or you can do your own solo speech directly to the camera - Marie will be smiling and nodding silently on the other side of the camera).

Ideas:

- What makes you unique? How is your firm different?

- Why should people work with you?

- What key issues should your prospective clients keep in mind going into the next 1-3 years or x period of time?

- What are the biggest challenges your prospective clients face and how do you help them address those problems?

 - What keeps you up at night?

- Why did you get into the business? What motivates you to get up every morning?

- How did you get started in the business. Tell your story of then and now.

3. Consider who you are "being." Your confidence and composure will reassure the viewer and build rapport. If you are nervous about being on-camera this is a great opportunity for you to get some experience. Marie Swift will provide quick coaching for doing a better job with your stance, delivery, facial expressions, etc.

4. Consider having fun. Be excited! Video is something we all need to master. This is a very affordable way to get a professionally produced video clip that you can actually use in your marketing communications plan.

Click the "play button" below to:

-  Listen to 3 minutes of coaching and advice from Marie Swift.
-  Download a tips sheet: How to be "On" When the Camera is On.

-  Learn about special offers from Impact Communications for BWMF participants.

Download a flyer that contains all the information you need about the Interactive Media Center and the Video Recording opportunities at BWMF 2012:

Click the "Book Now" button to schedule your Video Interview while in Denver for the Business & Wealth Management Forum, September 13-15, 2012.

T3 Technology Conference to Provide Practical Wisdom, Expert Advice

Session Topics will Address Real-Life Productivity Issues

David Drucker and Joel Bruckenstein, two of the financial planning industry's best known leading lights and producers of the 6th Annual "T3" Technology Tools for Today™ Conference, today announced details of conference breakout sessions to be held at the Grand Hyatt Bonaventure Hotel in Weston, FL February 16-19th, 2011.

"We are introducing several new and exciting sessions that reflect changes in the marketplace," said David Drucker. "They will provide participants with guidance and advice for utilizing the latest products and services available. For example, the iPad was an instant hit for entertainment purposes, but it can also be used just as effectively in business. Advisors who are using it productively will share their insights and experiences about how this tool has transformed client meetings and presentations."

"Virtual Work Partners: Outsourcing Done Successfully" will offer practical information about this modern solution for administrative support. Jennifer Goldman with MyVirtualCOO, Stephanie Platt with Financial Services Outsourcing Solutions Inc., and Jessica Riner with Consider it Done! will teach participants about virtual assistants: what they do, best practices for working with them and how they can be used to reduce onsite administrative employee costs.

Oren Chaplin of Norris, McLaughlin & Marcus, P.A. will lead a session on "Practical and Legal Issues Surrounding Technology Service Providers," in which he will discuss some of the legal issues that advisors face when using technology service providers. It will be different from the standard compliance discussion in that he will address real issues that advisors face in their relationships with technology service providers such as ownership of information, protecting against third party claims of infringement and indemnification.

Another session, "Workflow and Process: How to Identify and Incorporate It Into Your CRM," will be a discussion with Ken Golding of Junxure and Deborah Fox of Fox College Funding. "Advisors are hearing more and more that they need to use a robust CRM," Bruckenstein said. "This session will help them assess different ones in the marketplace so that they can choose the right one for them."

In addition to 25 or more breakout sessions, general sessions include presentations by TD AMERITRADE Institutional, Laserfiche and Asset Dedication. For conference registration, sponsorship application and additional details, visit T3's newly revamped website, www.TechnologyToolsForToday.com.

Standard price of $ 375.00 starts on 12/16/2010 and ends on 2/15/2011 at 11:59 p.m. Late/Onsite price of $ 400.00 starts on 2/16/2011 at 12:00 a.m.

Follow the T3 Community at www.Twitter.com/t3fan. Watch a series of short videos from past T3 Conferences and read other important information at www.T3Conference.blogspot.com.

Read full news release: T3 Technology Conference to Provide Practical Wisdom, Expert Advice

You'll get by with a little help from your (advisor) friends ...

What a month for industry trade publication content - and for great conferences, too!

David Drucker writes in the May issue of Financial Advisor magazine:

"What advisor networks do for the industry is to train advisors in the one thing they don’t get from CFP and other credentialing programs: Business savvy and processes. If this is what you’re lacking, think about joining an advisor network."

He profiles 3 advisor networks and mentions a couple others. I'm very proud that my firm, Impact Communications, has worked with and is happy to cheer lead for 3 of the networks named in the article - The Garrett Planning Network (www.garrettplanningnetwork.com - that's Sheryl Garrett pictured above), Fox Financial Planning (www.foxfinancialplanningnetwork.com) and Hanson McClain Retirement Network (www.hmrn.com).

By the way, Rick Epple of Epple Financial Advisors LLC in Wayzata, Minn (www.epplefinancial.com), who is mentioned in Drucker's article on advisor networks, will be one of 4 panelists who will share the top 3 marketing strategies that buoyed them through the dark days in 2008/09 during a presentation that I'll be leading at NAPFA's national conference in Chicago later this month. I hope to see all my NAPFA member friends and colleagues there - old and new!

If you're wondering "where in the world is Marie Swift" you can find a pretty accurate run down on my website, under Advisor Resources / Event Calendar. I just got back from speaking at 4 wonderful events - the Investment Adviser Association's national conference in Chicago, the National Association of Active Investment Managers national conference in Orlando, the fi360 national conference in Orlando, and the FPA Dallas Fort Worth regional financial planning symposium in Dallas - all in the span of 9 days - whew! I am happy to say I spent today shopping and doing girl-stuff at the mall with my favorite tweener, who ended up buying more stuff for herself than she did for me for Mother's Day (and that's a-okay by me!).

Also, by way of updates, a hearty congratulations goes out to Sheryl Garrett, who after many years of discussion with the Motley Fool finally inked an agreement with this well respected consumer information source. In addition to finalizing the Motley Fool agreement, which should be a real boon for Garrett Planning Network Members, Sheryl was in the May issue included in Investment Advisor magazine's list of the top 30 people in the financial planning profession over the past 30 years - wow!

And speaking of tops ... what a nice surprise to receive the May issue of Financial Planning magazine and see Jim Nagengast, President of Securities America, Inc. on the cover. The cover photo perfectly captures Jim's optimistic personality and the interior content by staff writer Paul Mencheca - The Road Ahead - provides a fair and balance look into the inner workings and executive team at Securities America, one of the big-5 IBDs in the nation and, I am proud to say, a tenured client with Impact Communications. And the companion video, published via Sourcemedia's new AdvisorTV channel, in which Nagengast shares his thoughts on the future not only for Securities America but for the industry as a whole, is a perfect compliment to Menchaca's article.

You'd think that things just couldn't get any better, content-wise this month, but then you'd be wrong (and so would I). Don't miss this month's column in Financial Planning magazine by Bob Veres. In his cover story, A Profession Comes of Age, Veres shares excerpts from his new white paper, The Future of Advice - which should be posted on his Inside Information website and available as a FREE download at www.bobveres.com by May 15th. I've just read an advance copy and was duly impressed by numerous insights from dozens of industry thought leaders (who Bob interviewed for the paper) and, of course, Veres himself. Until Bob gets the final version of The Future of Advice white paper done and onto his site, I highly recommend you read his article in Financial Planning magazine - and if you are not already subscribing to Inside Information or his Client Articles service, you owe it to yourself to look at those information sources as well.

So, back on the topic of advisor networks and "getting by with a little help from your (advisor) friends"...

Below is an excerpt from the article, which profiles Hanson McClain, one of Drucker's 3 profiled advisor networks. Scott Hanson and Pat McClain are incredibly sharp guys, with 1.2 billion in AUM. The PR Team at Impact Communications is pleased to be working with such a high caliber group! And thanks, Dave, for chosing 3 really good advisor networks to profile in your piece - I'm a big fan of your writing and am proud to be associated with the T3 Technology Tools for Today newsletter and annual conference (www.technologytoolsfortoday.com).

FROM THE MAY ISSUE OF FINANCIAL ADVISOR MAGAZINE

Hanson McClain Retirement Network
If you haven’t heard of the Hanson McClain Retirement Network (www.hmrn.com), which has been around since 1998, perhaps that’s because it’s somewhat more specialized than either the Sestina or Fox networks. The Hanson McClain Retirement Network is a nationwide network of financial advisors specializing in retirement planning that provides marketing and practice management tools for advisors who want to work with retirees from the telecommunications and utilities industries.

Hanson McClain, an advisory firm with three offices in the Sacramento area, began to work with Pac Bell personnel in 1991 and developed a program that brought a stream of qualified clients through the door. “We built our business off of that,” says Scott Hanson, a senior partner and founding principal at the firm.

In doing so, Hanson McClain developed a model for other advisors to follow. “Part of what makes our model unique, says Hanson, “is that we first become experts at specific companies’ retirement plans. So, if we’re working with Florida Gas & Power, we become experts at that employer’s pension plans, learning all the options their employees have at retirement time.”

Hanson says what differentiates their offering from competitors at larger institutions is that his firm gets involved with the client three to five years prior to retirement. “We help them make financial choices today so they’ll be better prepared for retirement tomorrow. Then we capture their rollover dollars.”

Training with the Hanson McClain network takes the form of a partnership, Hanson says. Training starts with a one-day seminar, followed by a nine-week business plan to get advisors off the ground. The firm formulates the best approach for each partner and customizes the plan from there. Some get weekly calls and some might get onsite visits.

“With 40 employees, we have relationship managers who travel across the U.S. and work with partners in their offices,” Hanson says. “We help our partners market through our relationships with trade unions and other gate-keepers, and we put on marketing events for partners. As their practices grow, we help them in every area they need help.”

Examples can include choosing a CRM, hiring employees, or legal issues they’re dealing with. “We’re not successful unless our partners are successful,” Hanson says.

Partners pay nothing up front. “We invest time and resources on the front end, and we get paid through a revenue share of 20%, which applies to clients they work for who came through our connections,” Hanson says. “If they form new relationships with employers we don’t serve, then they keep all of that income.”

READ THE ENTIRE ARTICLE HERE:
http://www.fa-mag.com/component/content/article/1-features/5484-help-from-your-friends.html

Conquer Market Woes with Technology

This year's Technology Tools for Today (“T3”) Conference, put on by Virtual Office News in February, offered advisors guidance on how to use technology to deal with the economic crisis.

Since I attended the conference, I decided to write about it and share the high points. Here's my first article, published by Financial Advisor magazine on March 12, 2009:

http://www.fa-mag.com/online-extras/3952-conquering-your-market-woes-with-technolog.html

You can watch Video Interviews and glean other great information at www.t3Conference.blogspot.com.

David Drucker on Trends in the Financial Services Industry

David Drucker, CFP, is an expert on technology and other aspects of the financial-services industry. He spoke with me recently about important changes in the industry. Our discussion touches on practice management, the role of broker-dealers and the future of RIAs .

If you are interested in learning more about best practices and the use of technology in a financial advisory business, join me at the fourth annual T3 Technology Tools for Today conference in Dallas, Texas Feb. 26-28, 2009. Learn about the conference here: www.VirtualOfficeNews.com.

David Drucker and Marie Swift on Advisor Trends Listen to podcast now.

Proclaim your independence!

Navigating today’s financial markets and economic situation is difficult for any advisor. But it’s especially complex for financial consultants at the big-brand sales institutions.

Talk about uncertainty. Turmoil. Stress.

The truth of the matter is that there has never been a better time to be an independent advisor. The Wall Street Melt Down and Economic Mess was not created by Main Street Advisors. And now is a really good time to help the general public understand just that.

So, if you are currently an independent advisor, get out and spread the word!

A recently published article in the Wall Street Journal states that a whopping 83% of clients of the large Wall Street firms are considering changing advisors. Independent advisors who have planned and implemented a solid publicity campaign are in a good position to attract new clients.

“Disenchanted clients and big-brand reps are heading for the door,” says Mitch Vigeveno, President of Turning Point, Inc. (www.tpisearch.com), an executive recruiting and industry consulting firm that helps disgruntled (or, on the flip side, visionary) executives and advisors find a new home in the independent broker/dealer world. But according to Vigeveno, evaluating all the choices can be overwhelming. “Without good information and guidance, too many people end up hopping from the frying pan into the fire,” he says.

John Napolitano, CFP®, CPA, PFS, MST, RLP®, a long-time financial advisor who is also President of independent broker/dealer U.S. Wealth Management LLC (member FINRA/SIPC, www.uswealthcompanies.com) adds his advice for the big-brand brokers:

“I’ve been talking to a lot of people – people just like your clients and you know what they are saying? They are telling me that their advisor isn’t as smart as they once thought. ‘Doesn’t he read the headlines? Doesn’t she know that his firm is going down, or has gone down? Doesn’t he know that under new ownership everything will be different?’”

“Clients are really concerned that their advisor really doesn’t care about them,” Napolitano adds. “They think the most important thing to their advisor right now is the advisor’s trailing income – and, frankly, they might be right.”

So here’s the deal:

If you are thinking about going independent, now is a golden time. But, if you’ve been at a wirehouse or other big-name firm, going pure RIA is probably not the right choice.

“Most of the advisors who join us after having left a big firm appreciate the fact that my firm, which functions as a Securities America branch office (one of the nation’s largest, independent broker/dealers, member FINRA/SIPC, www.securitiesamerica.com), can provide more freedom and flexibility than they’ve had in the past along with a collaborative team environment and all of the big firm services they’ve grown to love,” says Bill Glubiak, managing principal of Cedar Brook Financial Partners LLC (www.cedarbrookfinancial.com).

Cedar Brook is a Private Wealth Management Firm established in July 2005 by 13 people with over 100 years of combined industry experience. With more than 50 financial professionals, Cedar Brook differs dramatically from other independent firms composed of only a few individuals.

“Hybrid advisors – those who are affiliated with an independent broker/dealer yet still licensed to offer fee-based services as either an RIA or an IAR – are going to come out ahead in the long run,” says David Drucker, CFP®, founder of Drucker Knowledge Systems (www.daviddrucker.com). Drucker is one of the most visible and best respected speaker/writers in the financial planning industry.

“Whatever your thinking may be, there has NEVER been a better time to change firms. When else do you think that your clients will welcome a stack of paper with ‘sign here’ sticky notes? The time is NOW,” Napolitano says.

So...What's "Going Independent" All About? According to Vigeveno:

• It's about CHOICE
• It's about FREEDOM
• It's about FLEXIBILTY
• It's about BUILDING EQUITY
• It's about LIFESTYLE

I'll "second" Vigeveno's list above and add:

• It's about TRANSPARENCY
• It's about PROFESSIONALISM
• It's about a BETTER BUSINESS MODEL
• It's about putting CLIENTS' NEEDS FIRST

LISTEN TO THIS PODCAST NOW

John Napolitano wrote the book The Complete Idiots Guide to Success as a Personal Financial Planner (Penguin, December 2007). A sought after speaker in financial planning circles, he delivers dozens of speeches to attentive financial advisor and CPA groups each and every year.

You can sign up for his free newsletter here www.theparagonadvisor.com and access his blog here www.theparagonadvisorblog.com.

I asked John to share some additional insights via a telephone interview I conducted September 26, 2008. John was once a fee-only (no commission) advisor, but returned to an independent broker/dealer model in due time.

Curious to know why?

Click the “play” button to hear our conversation now.