Products January 19, 2010

ProTracker Releases Cloud CRM Software for Financial Advisers

ProTracker Software, Inc., announced the launch of ProTracker Cloud, a hosted remote client relationship management (CRM) solution.
Reported by

ProTracker Cloud builds on the firm’s ProTracker Advantage product, a practice management program, by providing a hosted solution including the ProTracker Advantage CRM, Microsoft Office 2007 (MS Word, MS Excel, MS PowerPoint), and Microsoft Outlook. The solution is accessible through a Web browser, according to the firm.

The solution uses a two-factor authentication for security purposes. Advisers will be asked for a username and strong password, as well as a physical security key similar to a car door clicker. The firm said the offering provides maintenance and updates with nightly data backups and technical support.

With the hosted Microsoft Exchange Server option, ProTracker Cloud supports personal digital assistants (PDAs) and smart phones, such as a Blackberry, iPhone, Palm Treo, or Windows mobile device.

Products January 19, 2010

BrightScope Unveils 401(k) Fee Reports for Participants

BrightScope said its new Personal 401k Fee Report product allows 401(k) plan participants to figure out what they pay in fees.
Reported by

It might interest financial advisers to know that the fee results participants receive are compared to the fees in an IRA. Participants are told whether their fees are higher than average compared to a low-cost IRA and given projected savings of opening an IRA account.

The tool, available for free to registered participants at www.BrightScope.com, asks participants for their age and salary. It then asks participants to select a plan they contribute to and enter how much they contribute. If the plan is in the BrightScope database, it will list funds for participants to enter amounts next to.

The database then collects the data and presents the percentage fee the participant pays—as well as a comparison of those fees to an IRA. Participants can also view a more detailed report telling them the dollar and percentage cost of each fund in their lineup.

The service provides “unprecedented transparency,” said Mike Alfred, CEO and founder of BrightScope, a provider of independent retirement plan ratings and investment research, in a news  release. “With a comprehensive database of more than 30,000 401(k) plans, we’re uniquely positioned to deliver a vital resource to millions of Americans unaware of how much of their retirement savings is going to fees each year.”

«