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By John McCrank
TORONTO (Reuters) - They're sleek, sexy and fun. They're also revolutionizing the way financial advisers do business.
A host of adviser-specific apps have taken iPads and other tablets from nifty playthings to seductive business...
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South Carolina Governor Nikki Haley types on her iPad as U.S. President Barack Obama speaks during a meeting with a bipartisan group of governors in the State Dining Room at the White House in Washington February 28, 2011.
Credit: Reuters/Kevin Lamarque
By John McCrank
TORONTO |
Fri Apr 8, 2011 11:30am EDT
TORONTO (Reuters) - They're sleek, sexy and fun. They're also revolutionizing the way financial advisers do business.
A host of adviser-specific apps have taken iPads and other tablets from nifty playthings to seductive business tools that can dazzle and truly educate clients, advocates say.
"It's really a new paradigm," said David Wisehaupt, managing director and senior portfolio manager at Wisehaupt Bray Asset Management, a unit of Chicago-based independent brokerage HighTower.
"I'm with a client, be they young or old, and ... they sort of can't help themselves -- before the meeting is over, they're manipulating the images on the screen."
Wisehaupt, a 29-year financial services industry veteran who works with high-net-worth clients, said the charts, research and portfolio analytics he displays on his tablet screen connect with clients more than one-sided dissertations or lectures.
The interactive experience helps clients retain more information and feel more secure about his stewardship of their assets, he said.
DISRUPTIVE TECHNOLOGY
Bill Winterberg, whose technology consulting firm FP Pad in Dallas, Texas, specializes in working with independent advisers, calls tablets a "disruptive technology" that improves productivity and mobility.
He pointed to apps that enable advisers to access customer relationship management and portfolio management tools.
For instance, there's Orion Advisor Services' MobileAdvisor app, which displays portfolios, performance information and contact information.
It also allows advisers using Orion's platform to rebrand the app, so clients download it, log in, track their portfolios, and view videos that the adviser provides.
For security purposes, the data is kept on the Omaha-based company's servers rather than directly on the tablet.
Security is the primary compliance concern for advisers using iPads, Winterberg said. At a minimum, he recommends pass code locks and password protection for the tablets.
Users also can use a service from Apple called MobileMe that homes in on lost iPads and allows all data to be erased remotely if the tablet is online.
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Comments (1)
JJKIII wrote:
Take a look at “StockPop” at the App store. It’s a tool that give you a “picture of Preformance”, a real time radar screen for your portfolio.
Apr 08, 2011 11:44am EDT -- Report as abuse
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