Technology Tools for Todays High–Margin Practice: How Client–Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours

Praise for Technology Tools for Today′s High–Margin Practice

"Drucker and Bruckenstein have brought together the industry′s top tech minds to create a road map for advisors looking to achieve scale and profitability through better use of technology. Dave and Joel have the exceptional ability to see the ′bigger picture′ and provide a fresh perspective on how advisors can maximize their technology investments."
Tom Nally, President, TD Ameritrade Institutional Board of Trustees, Foundation for Financial Planning

"Backed by their years of experience, David Drucker, Joel Bruckenstein ′and friends′ share their valuable hard–learned lessons and unique insights in this great book for financial advisors who want to use proven technology solutions for doing well by their clients so that they, as advisors, do exceptionally well. This book is an excellent resource for any advisor focused on running an efficient and profitable business."
John J. Bowen, founder and CEO, CEG Worldwide, LLC; columnist, Financial Planning magazine

"Technology Tools is an invaluable addition to your practice. Buy it! Read it! Implement it! Profit!!"
Harold Evensky, CFP®, AIF®, President, Evensky & Katz Wealth Management

"Like many others, for years I have relied upon Dave and Joel for timely, relevant and practical advice on the ever–changing world of useful technology for financial planners. The 2013 edition of Virtual–Office Tools for a High–Margin Practice delivers like no other before it by assembling the perspectives of several experts. I became more productive almost instantly just from reading Bill Winterberg′s chapter on collaboration tools. Any practitioner contemplating their next technology choices would be well served by getting a copy of this book."
Dan Moisand, CFP®, Principal and Senior Financial Advisor, Moisand Fitzgerald Tamayo, LLC and former Chairman, Financial Planning Association (FPA)

"Technology Tools for Today′s High–Margin Practice is an excellent reference book for any firm looking to improve its operations and margins. David and Joel have assembled some of the most knowledgeable people in our industry on a broad range of technology and operational topics. The format of the book is easy to read and the coverage of each topic is extensive. This book is a must–have reference for firms of all sizes."
Charles Goldman, CFP®, cofounder, Advizent; board member, CFP® Board of Standards; board member, Personal Capital

Introduction 1
David Drucker

CHAPTER 1 Selecting the Right CRM System 5
Davis D. Janowski

CHAPTER 2 The Future of Financial Planning Software 17
Robert D. Curtis

CHAPTER 3 The Future of Financial Planning Software and the New Client–Advisor Relationship 27
Linda Strachan, Kory Wells

CHAPTER 4 Portfolio Management Software 37
Mike Kelly

CHAPTER 5 Achieving Growth and Profitability with Technology Integration 47
Jon Patullo

CHAPTER 6 How the World Wide Web Impacts the Financial Advisor 61
Bart Wisniowski, Jason Lindstrom

CHAPTER 7 Managing Your Online Presence 73
Marie Swift

CHAPTER 8 Client Portals and Collaboration 93
Bill Winterberg

CHAPTER 9 The Cloud 107
J. D. Bruce

CHAPTER 10 Digital Signature Technology 129
Dan Skiles

CHAPTER 11 Innovative Software and Technologies Implemented at One of the United States Leading Advisory Firms 139
Louis P. Stanasolovich, Christopher J. Kail, Sherri M. Slafka, Daniel D. Kleck

CHAPTER 12 Virtual Staff Sparks Growth, Profitability, and Scalability 159
Jennifer Goldman

CHAPTER 13 ROI The Holy Grail of the Technology Purchase Decision 173
Timothy D. Welsh

CHAPTER 14 Building an Efficient Workflow Management System 187
David L. Lawrence

EPILOGUE

Advisor Technology: Yesterday, Today, and Tomorrow 197
Joel P. Bruckenstein

About the Authors 205

About the Contributors 207

Index 219

David J. Drucker, MBA, CFP®, has more than thirty years of experience in the financial services industry. He is the coauthor of Tools and Techniques of Practice Management and Virtual–Office Tools for a High–Margin Practice: How Client–Centered Financial Advisers Can Cut Paperwork, Overhead, and Wasted Hours (Bloomberg Press, 2002). He is also editor of the monthly newsletter Technology Tools for Today (T3) and cofounder of the Annual T3 Technology Conference for financial advisors. David started his own advisory firm in the Washington, DC area in 1981 and continues to manage the financial affairs of a limited number of high–net worth clients.

Joel P. Bruckenstein, CFP®, is an internationally renowned expert in the field of applied technology for financial service professionals. In addition to serving as the publisher of the Technology Tools for Today (T3) newsletter, Joel is a technology columnist for Financial Planning magazine and Financial Advisor magazine. Joel is the coauthor of Tools and Techniques of Practice Management and Virtual–Office Tools for a High–Margin Practice: How Client–Centered Financial Advisers Can Cut Paperwork, Overhead, and Wasted Hours (Bloomberg Press, 2002). He is also the cofounder of the Annual T3 Technology Conference for financial advisors. Further information about Joel and T3 can be found at www.technologytoolsfortoday.com.