Data & Research July 12, 2010

Survey Reveals "Must-Have" Technologies

The results of a recent survey of financial advisers reveal the "must-have" technologies for running a more efficient and profitable advisory business.  
Reported by

According to the ByAllAccounts survey, the top five technology solutions deployed in-house or through an application service provider are: 

  • Portfolio management/performance reporting (83.6%);  
  • CRM tools/client reporting (71.2%);  
  • Trading (57.4%);  
  • Financial/estate planning (56.8%); and 
  • Rebalancing/asset allocation (51.4%). 

ByAllAccounts asked advisers about the importance of bringing financial account-level data into the five technology solutions above. Three out of four respondents claimed to be actively bringing account-level data into their portfolio management/performance reporting systems; of that number, 68% are doing so daily. Forty-five percent say they are using account aggregation technology to bring the account-level data into portfolio management/performance reporting systems. 

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According to the survey report, the results suggest that account aggregation technologies are becoming an increasingly important part of the overall technology mix for many RIAs. Many advisers rely on new technologies to help their firms run smoothly, streamlining operations as they advise existing clients and pursue prospectives. Some firms are even integrating technology solutions to open entirely new revenue streams, going beyond simply viewing client’s held-away assets to advise on those and bill for that service. 

For more information on the survey, visit http://discover.byallaccounts.com/executivesummaryreg.html. 

 

Deals & People July 12, 2010

Morgan Stanley Smith Barney Hires New Advisers

Morgan Stanley Smith Barney has hired two adviser teams from UBS AG and one adviser from Charles Schwab Corp, representing over half a billion dollars in client assets combined. 
Reported by

According to the report, one team from UBS will be joining the firm’s office in Canton, Ohio. Robert Seaman, Brian Lippert, Mark Morena, and Kent Beal spent over 10 years at UBS and McDonald Investments, where they oversaw $292 million in client assets and generated almost $2 million in annual fees and commissions.  

Also from UBS, Constantine Kallenekos and John Marino joined Morgan Stanley Smith Barney’s office in New York. According to a recent press release, the pair spent four years at UBS, and oversaw $127 million in client assets, generating $1.5 million in annual fees and commissions.  

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Benjamin Woo joined the company’s San Francisco office from Charles Schwab, where he oversaw $140 million in client assets and generated $1.4 million in annual fees and commissions over a period of almost nine years.  

More information is available at www.morganstanleysmithbarney.com.   

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