5 Problems and 5 Tech Solutions learned at the T3 Tech Tools Conference

Share: Numerous advisory firms are struggling with: reducing the workload climbing out of the “weeds” of operations managing costs finding more time to nurture relationships managing staff Although we know that best-used tech can be a very affordable solution to many of these issues, less than .10% of RIA firms attended T3, which is the most tech-heavy … read more

Defining how healthy your business is and tech solutions to measure health

Share: Here is COO’s summary to measuring health. This is a compilation our discussion on the FPA Knowledge call and contributions from advisor owners. Qualitative Metrics matter We agree with Jeff, and other advisors, that qualitative measurements are a sign of business health or lack thereof. Here are 4 metrics that can be used: are the … read more

Avoiding the collapse of independent wealth advisory businesses

Share: We have spent years working with hundreds of advisory businesses and talking to thousands more. It is time to share the honest truth. The fee-only independent advisory industry is changing rapidly with consolidation and closure of firms due to a lack of sustainability. This is occurring because most advisor owners don’t have the passion, experience, or … read more

A constantly evolving list of Roll Up RIAs or Equity Partners to consider

  We can’t keep up with the list of firms that you can join, have become an equity partner, or be acquired by. So we are posting this list below and will continue to update the blog post with new names. We also are privately documenting the arrangements offered by each firm. Some of the … read more

A few worksheets to help improve your business profitability and operational excellence

We had a great time building out tech plans and identifying capacity gaps at T3 Tech Tools this year! The take away worksheets are shown below. As always, we are here to help if you would like help navigating as you strive for operational excellence. Click HERE to do a Boost Call to accelerate your research on … read more

The quick way to decide if you should join a roll-up RIA or go completely independent

There are so much research to answer the question of going: Independent OR join a larger RIA However, we found there is one simple question to ask as the answer will allow you to eliminate a ton of research and sleepless nights Do you WANT to manage your staff and the business OR do you WANT to service … read more

Simple explanation of Document systems and the different levels of functionality

We realize that the jargon for document systems is confusing. To save you time, we have created the cliff notes version of document systems and functionality below. We hope this helps you decide which type of document system you need to implement. Imaging:  Scans & converts paper to a digital file (ie. PDF). When I … read more


  You have probably seen the hit HGTV show ‘Love it or List it’™ in which a designer and a real estate agent use their expertise to try and convince a  home owner to ‘stay or leave’.  The designer renovates the current home with efficient & gorgeous newness in hopes that the home owner will stay in … read more

What Are the Benefits of Video Marketing?

Today, I wanted to talk about adding another tool to your virtual COO that you’re building out.  This tool is video and video marketing. We’ve known for years at our own company that we should put ourselves in front of the camera, but I actually found this experience much more difficult than going out to … read more

DIY Offerings to boost your research

      We are always here to help and continue to provide DIY solutions.  Click HERE to subscribe to our monthly solutions newsletter Click HERE to schedule a quick 15 minute call to talk with us Click HERE to email us

Integrating Forms Into Your Virtual COO

Welcome back to my virtual COO channel, where I’m going over how to build your own virtual COO, a set of integrated workflow processes that enhance the client and staff experience. Today I’ll go over putting a form into play and building it into your workflow to use for prospects. A prospect is a warm … read more

Advisory firms are bleeding money – Part 3

If something takes longer to do than it should, you: Won’t do it Will spend more $$$ on labor Will be LESS responsive to clients Will under utilize your staff and they will quit, either mentally or physically This is why contact segmentation, business servicing modeling, and tech integrations are the 3 must-have’s. We guarantee … read more

Building an enduring business… the how-to guide

Mark Tibergien and Kim Dellarocca of Pershing Advisor Solutions are donating ALL of the proceeds from the sale of their newest book, The Enduring Advisory Firm, to the Center for Financial Planning. The mission of the Center is to promote the profession as a career choice and to encourage greater diversity in the business.  Fewer than 25% … read more

Training your staff and why the effort directly impacts growth and sanity

I finally found them!! Priority cards I used when I started as a financial planner at the age of 23. Priority Cards Why did I spend 3 weeks digging through everything in my office to find these cards? We watch advisory firm owners struggle to train younger staff and we take it for granted that … read more

Building Your Own Virtual COO: Step 2

Today we’re here with step two of how to build your own virtual COO. Last time we talked about web-to-lead, a contact form on your website that will send a lead’s information to your CRM. After that happens, you need an automated workflow to start. I don’t know of any CRMs at this point in … read more

Great books to SKIM read – for ‘newbie’ Operations managers at wealth management firms

We keep being asked how to train operation managers that come from other segments of the general financial industry or outside the investment/planning industry. And we know that reading is only part of the answer. We do have our favorites that we recommend for SKIM reading or just reading a few pages of each section … read more

How to simplify the business to stay lean and keep it manageable

We love the annual act of simplifying our business. The warm fuzzies permeate our team’s morale as we aim for a lean and more manageable business each new year. So how do we shed and simplify?  We list all our software and shut down anything not actively used We ask each provider what costs or … read more

The First Step in Building Your Virtual COO

A virtual COO is a set of integrated systems and workflows designed to maximize the client and staff experience. Each piece of technology, workflow, process, and staff member is all part of building a virtual COO. Today, we’ll go over the first step of building your own. The virtual COO is an underlying foundational system … read more

Five Must-Have’s to Improve your Business

We are raving fans of independent wealth advisory businesses. We celebrate the independence and acknowledge the fiduciary responsibilities that weigh on your shoulders as business owners. To help you persevere, here are the top 5 must-have’s that successful advisory business owners already possess. The only question for you is – do you have what it … read more

Complex vs. Simple Risk Tolerance Questionnaire – how to choose?

We are big fans of advisors using a risk tolerance questionnaire. However, there are so many to choose from so how do you decide WHICH questionnaire to use? We did a Google search for more simple questionnaires and choose the top 5 widely used risk questionnaires. We compiled the questions into one master list document. … read more

How to use Redtail for project management

Redtail workflows are great for project management of more simple and small team projects. Here is how to use Redtail workflows for PM (project management). CREATING THE PROJECT STEPS! Start a new workflow that is linked to your firm’s contact record. Do not use a template. Name the workflow “PROJECT: (and the name of the … read more

Integration among Fidelity, eMoney and outside reporting systems

    FYI: If you custody with Fidelity and are using eMoney, it is time to take out paper and pencil and draft the data flows again as they improved their integration. Fidelity and Streetscape users can turn on contact and AUM data feed flows into eMoney. Once this is done, you can allow the … read more

Integration among Laser App and LPL’s Salesforce

FYI: Laser App Anywhere does not work with LPL’s version of Salesforce as you can NOT link the Laser App fields with LPL’s version of Salesforce.      

Business divorce or Breakaway tips

A few tips to follow when breaking away or going through a business divorce Reporting to your clients ends on your LAST day at the old firm: If you are moving your portfolio data to a new license of the same software you used in the past, do not cut off the current software’s data feed … read more

What Is a Virtual COO?

I am very excited that we are about to kick off a new series about how to build your own virtual COO. The following posts will pick apart each of the operations of the business and we will talk about the tools, the people, and the integration of each. Today, we want to explain what … read more

4 Features to Consider When Researching a Client Portal

Today I wanted to talk about choosing the right client portal and the four top features that you might like to have in it. “ When choosing a client portal, there are four main features to look for. ”   When choosing a client portal, there are four main features you should consider whether or … read more

Top 10 Tips to Successfully Implement a CRM

Everyone would like to maximize the use of their CRM to reduce the workload, track the progress on servicing and sales, and ensure staff is productive. The BEST way to maximize the use of any CRM is to implement it properly from Day 1. Here is our Top Ten list of recommendations to successfully implement … read more

3 Tips for Using Technology to Increase Productivity

Let’s be honest—technology dominates most of our day-to-day business lives. How can you use it wisely and use it to be more productive? Today I want to talk about my three tips to accomplish this. The first tip is shutting down all of your systems that aren’t being used. Ask your staff what technology they’re … read more

Why businesses are implementing their own Virtual COO™

Businesses recognize the need to expand the client base and hire great people while staying profitable. They also realize that the value to clients is the personal interactions and not the back office work. By building their own VirtualCOO™, they are eliminating back office work to boost profits and allow staff to rise within their … read more

Stop the bleeding of money into tech – Part 2

I think it’s ironic that hackathons are happening with NO client participation. The sad truth is most wealth advisory firms don’t know what online experience their clients want because they aren’t asking. I remember the days when wealth advisory firms invested in qualified objective surveys administered by professional firms like Littlechild’s. These surveys asked the proper questions and guided the advisors to … read more

How to Adopt and Maximize Technology

There are four key steps to follow if you want to adopt technology and maximize its use for your business: “ Sell, sell, and sell again. ”   Sell: You need to sell the benefits of the technology to your staff before you implement it. You need to turn on those selling skills and explain … read more

3 Ways to Work Effectively with an Outsourced Provider (video)

How do you work with an outsourced provider effectively? There are three main ways to do so. The first is to confirm with them how you’re going to communicate tasks and questions. No matter what media you use, you want to clarify how that’s going to happen going forward. The second way is to do … read more

Bleeding money on tech because your business model is broken?

Financial advisory firms continue to bleed money on tech with failed adoption rates. So we asked why and here is the answer. You can NOT adopt tech without first deciding your business model. This may seem like common sense but humor us and read below so you don’t make the same mistake as your peers. … read more

Are you willing to pay and manage more to be TRULY independent?

The strive to be an independent financial advisory firm comes riddled with ironies in the wealth management industry. I question what “independence” means when advisory firms are required to use their institution’s technology to enter tasks assigned the institution’s staff, have documents e-signed, or respond to alerts and notices. And how much labor (money) is … read more

Why businesses are implementing their own Virtual COO

Businesses recognize the need to expand the client base and hire great people while staying profitable. They also realize that the value to clients is the personal interactions and not the back office work. Eliminating back office work will boost profits as well as allow the staff to rise within their career paths. It will … read more

How to STOP wasting money and time on technology

Want to know the secret to cutting costs and aggravation with technology? Decide your value to your clients. If you value your firm’s complex tax reduction strategies, drop the tax return software and labor costs by outsourcing or eliminating it. Then strip your website to only tout the message about the benefits of your tax reduction … read more

Oliver’s easy explanations on Fiduciary and finance that should be shared with ALL consumers

Thank goodness for John Oliver. His latest broadcasts are easy to understand and cover the complex issues of fiduciary, DOL, and finance. Here is the list of videos and they are a MUST SHARE with all consumers. Enjoy! Fiduciary and the Retirement Challenge Debt Buyers Wealth Gap Student Debt  

Wealth Management posts Advisory Firm Performance results Highlights are the net profit margins and % of expenses paid to staff. We have no comment on the net profit numbers as they may not account for the compensation that owners are receiving. If the net profit of a firm is 35% and this is AFTER the owner’s compensation is deducted from the … read more

DOL Ruling and 6 Questions companies will ask their Retirement Plan Advisor

If you are advising a company on their retirement plan, look for your company client to seek these answers from you, their accountant, or most likely their DOL-required auditor before April 2007. Keep in mind that retirement plans with 100+ employees are required, by the DOL, to hire a qualified auditor to audit their plan … read more


PROBLEM TO SOLVE: No online client portal New, remote clients with no process to service effectively Frequent technology setbacks Staff overloaded Marketing non-existent No effective processes in place Stagnant AUM and client growth Ineffective IT, Admin staff and bookkeeper SOLUTIONS RECOMMENDED & IMPLEMENTED by COO: CRM: Redtail CRM CRM EMAIL: Redtail CRM and Redtail Email … read more

Managing the Project

“I have a project for you.” These might be the most terrifying 6 words in the workplace. Regardless of the size or complexity of a project, there is always the risk of time lost, money ill spent, and poor results. These problems arise because the people involved may not use a conventional method of project … read more


PROBLEM TO SOLVE: Stunted revenue growth Undocumented processes not followed as specified Failed to address the fact that two different types of clients existed and each should be serviced differently to provide appropriate quality service while maintaining profitability SOLUTIONS RECOMMENDED & IMPLEMENTED by COO DOC MGMT: established client segmentation and servicing that included a cloud … read more

The W’s of Outsourcing -When do I outsource, What do I outsource, and How is it done compliantly and effectively?

There was a time when the word “outsourcing” was barely mentioned. Today, outsourcing is as common in the office as a laptop or smart phone. Outsourcing has allowed companies of all sizes to grow quickly, while reducing costs – which only add to the bottom line. Professional outsourcers can handle virtually every type of task, … read more

A quick primer on file formats and use

Eye Catching Creative provides a simple explanation to the file formats that includes information on extensions (ie. .png, .gif and .tif.), when they are used and needed and more.   Click HERE to read the quick primer  

15-50 employee RIA firms are struggling – the WHAT, WHY and Solutions

We continue to struggle with implementing new technology and processes at firms with 15-50 employees. We are sharing the WHAT and WHY this is happening so other firms can learn and avoid the hurdles that growth brings to a firm. Many CEO’s are blinded by increasing revenues and client base. They are also very busy … read more

Optimize your tech and staff

We all want the silver bullet solution to maximizing the use of tech and staff to achieve higher growth, more time, better profitability. However we don’t have the energy nor time to devote to this cause. Below are 3 My Virtual COO™ solutions that have a great impact on firms that embrace change and are truly … read more

Man UP! Why Billion’s CEO has it right

  It just dawned on me why I like the show Billions and the tormented CEO of hedge fund Axe Capital, Bobby Axelrod. He made the smartest hire that most CEO’s seem to be avoiding – he hired Wendy. For those of you that don’t watch the show, Wendy’s title is “performance coach” and she … read more

The Client’s Journey with your Firm – How to Make it Memorable

The client is always right. The client is king. The client comes first. There are probably a thousand other sayings tied to client service that we use every day. However, as the saying goes, talk is cheap – and losing clients is an expensive proposition. So how can you ensure that a client’s journey is … read more

How Outsourcing Enables Growth, Profitability & Scalability

Whether starting your financial advisory business or managing a growing client list and workload, outsourcing to virtual staff allows you to quickly and flexibly scale your business without sacrificing profit margins or work-life balance. Advantages and Benefits of Outsourcing Immediate Expertise: As subject matter specialists, virtual staff members bring a high level of expertise and … read more

The Art of Working Smarter: Delegation and Improving your Business and Day

Many advisory owners have confidence in their staff and know they could save time and money if they would delegate. Yet all too often, owners seem unable to let go of projects or daily tasks. Mike Lover, certified black belt in Lean Six Sigma, says, “Firms are inundated with sometimes needless and repetitious back-office activities … read more

Integrations → Productivity → Profits

The most successful and innovative financial firms are those that best utilize IT systems and integrations to maximize their staff’s potential and provide quality service to their clients. This top tier of financial firms earns an average of 17% more revenue per staff and 42% more profit per staff.  The same research studies also state … read more

The Process of Elimination: 4 Steps to Free Time and Space for What Matters

A critical and often overlooked step in transforming your business and work environment is elimination. With finite time and resources, we can best focus on what adds value to our business by eliminating the items that no longer do. In an operational business context, elimination refers to: Removing duplicate or unnecessary steps in your operations … read more

Staffing: Attracting the Right People to the Right Roles

After streamlining the functional side of your business, the next step is to focus on the very heart of your company – your staff. You put processes and technology to work to reduce human labor on time-consuming and unnecessary tasks, so now is the perfect time to reassess the remaining workload and redefine your team’s … read more

The Lean Solution to Becoming a More Profitable, High Growth Advisory Firm

The cool and trendy hot topic five years ago was technology, which then turned to integrations just a few years back. Today’s hot topic isn’t sexy but worth discussing in length: lean operations planning. Operations Planning and Lean Six Sigma are the keys to succession planning, profitability, and creating a firm that attracts both clients … read more

Don’t Let Top 100 Rankings Deceive You

We’ve all heard of March Madness, the NCAA’s men’s basketball tournament that captivates the nation for almost four weeks in the early Spring. Everyone fills out a bracket, and watches it collapse when a #1 team is beaten by a #16 team. The lesson here: rankings can be misleading, and in the professional world, that … read more

How to Improve Your Operations with a SWOT Analysis

When you buy or sell a home, an inspection is usually one of the last steps in the process. The outcome of that inspection can sometimes dictate whether or not a sale goes through. That’s a lot riding on just one step! Before you get to that point, though, it’s likely you know some things … read more

What comes first – Technology or the Firm

Wikipedia defines the famous ‘chicken or the egg’ question as the “causality dilemma” and in our current world of technology, we cannot help but apply such a dilemma to our industry. What comes first, the technology or the firm? We work with so many advisory firms that continue to gravel with this dilemma – should … read more

Creating Better Connectivity with Clients and your Audience

“We live in the age of communication.” “There are more ways to communicate today than ever before.” “Did you get that email I sent? Or the text? Or the tweet?” There’s no doubt you have heard these statements more than once. Communicating has definitely gotten easier but that doesn’t guarantee what you’re saying is being … read more

Operational & Human Capital Wins that Drive Growth

Your strategic plan, your organizational structure and systems, and your people practices are the necessary elements that drive the growth of your firm. The key foundation to building any business is to ensure you have the right people doing the right things. Building a business strategy that supports what you are delivering to your clients … read more

Find your voice and spread the word about your value, NOW!

  For any of you fee-only RIAs that are trying to grow your business and haven’t gone to the movie “The Big Short“, we recommend you do & take your entire staff with you! Then bring the conversation back to the office about how you could better educate and market your value to your clients … read more

Should you change your fees to stay competitive – the answer is below!

Per Bob Veres and SEI and the survey results from your peers….”Our industry is at a crossroads, and you may feel like your business is in its crosshairs. Can you justify an ongoing AUM fee when automated solutions are driving costs down, or should you take a new look at your value proposition?” Quickly read … read more

Why you MUST implement a PFM system to avoid your clients being stolen

It is time to be more bold about the facts. And the fact is – Mint & other PFMs are stealing your valuable clients’ attention AND your next generation of clients. We took our theory out for a test drive to prove we weren’t being ‘drama queens’. We asked our RIA firm client to reach out … read more

Orion eMoney Redtail LPL & the RIGHT integrations to WOW & attract new clients

We all know that integrations can reduce labor & eliminate data entry errors. Yet advisory firms are struggling to understand the impact & the proper strategy. We built a strategy for another firm around eMoney, Orion, Redtail CRM, LPL, and DST data flows. This particular strategy, while not always the answer for all firms, was designed … read more

Career Opportunities

  If interested in possible openings, please email the contents of your resume into the body of an email to We do not accept attachments or phone calls. PORTFOLIO SYSTEMS PROJECT MANAGER & IMPLEMENTER Manage entire roll out of portfolio research, accounting, reporting, rebalancing, modeling, risk tolerance, and trading systems as designed by COO’s … read more

eMoney Redtail Black Diamond & data feeds – making the RIGHT decision on integrations

We all know that integrations can reduce labor & eliminate data entry errors. Yet advisory firms are struggling to understand the impact & the proper strategy. We built a strategy for one firm around eMoney, Black Diamond, Fidelity and DST data flows. This particular strategy, while not always the answer for all firms, was designed … read more

Redtail Virtuoso Worldox & why the selection of your internet browser matters

Redtail CRM provides full functionality of all features in Google Chrome. The Virtuoso app, that allows you to view/open Worldox documents from within the CRM, provides full functionality in Internet Explorer. If you use Redtail CRM in the IE, you may lose some functionality occasionally. One of the random function losses may be the Timeline. So … read more


PROBLEM TO SOLVE: Unable to expand the client base Unable to attract hires at all levels Frequent technology setbacks Staff overloaded No ability to scale the business and ensure quality service due to lack of processes SOLUTIONS RECOMMENDED & IMPLEMENTED by COO CRM: Redtail enhanced through massive cleanup and reorganization of contacts DOC MGMT: migrated … read more

Automation Done the Redtail CRM Way

Financial professionals often have a lot on their plate. From meeting with clients to managing their team, there are just too many things to oversee. In today’s competitive and fast-paced business landscape, micromanaging won’t cut it anymore. You need to be able to do more with less time. One of the most efficient ways to … read more


PROBLEM TO SOLVE: Unable to attract advisors with books of business to join the firm Unable to attract operations staff to join the firm Unable to accommodate more advisors due to lack of space Difficulty increasing the wealth management business without increasing the size of the staff. No monitoring of projects and current staff workload … read more


PROBLEM TO SOLVE: No time to network for more business Unable to attract an advisor to join firm, due to lack of processes and technology Staff overloaded with work   SOLUTIONS RECOMMENDED & IMPLEMENTED by COO CRM: Junxure to Redtail CRM DOC MGMT: migrated from server to Net Documents and integrated with Redtail PORT MGMT: … read more


PROBLEM TO SOLVE: Staff not working at the highest skill level and overloaded with work Lack of time to attract and on board new clients Unable to attract new advisors and open new locations Dilution of 3 office, regional brand due to lack of standard operating processes Unable to monitor quality of client servicing SOLUTIONS … read more

The ABC’s to Implementing workflows to increase Profitability!

Processes have long been recognized as critical to the successful management of a financial advisory practice as they guide staff on the best way to operate and allow the owner to manage the firm’s operations more effectively. In this new age, you can put processes on steroids by automating the work through workflows and the … read more

Making the Most Out of 2016

Now that most of 2015 is in the rear view mirror, and the holiday rush is in full swing, time is precious. As you look back at your accomplishments for this past year, you need to look forward – and prepare for everything that 2016 has in store for you and your business. Making your … read more

How to Add a Task to your CRM to save time & easily monitor progress

Watch our video and learn how you can add tasks into Redtail Leapfrog. Your staff can quickly prioritize their work while you monitor their progress!      

Nine Ways to Embed Compliance When Outsourcing to Virtual Staff

As the regulatory compliance burden escalates for financial advisors, managing virtual staff can seem like just another compliance headache waiting to occur. Using virtual staff will help cut cost down low and help the compliance fashion of the company. The programs you use to communicate with your virtual staff should be secure and you should … read more

Convince Others That Chores are Actually Fun

There is no shame in finding a trusted source to handle tasks that help advisors streamline their days more effectively. Based in San Francisco and being a tech-savvy type, Harad often turns to online sources to outsource some basic functions. As a lone practitioner and a marketing consultant, Harad understands the value of time more than most … read more

The Incentive Program that Rewards Everyone

It is challenging to reward support staff properly. So, consider this unique bonus plan: reward your support staff for valuable hours scheduled between advisors and referral sources. Reward your staff quarterly for each hour that they schedule you for a networking event, valuable client interaction, or introduction meeting to a prospect or referral source. This approach has multiple … read more

Advisors Face Hiring Dilemmas: Outsourcing or Not?

For advisors focused on growing their businesses, the hiring decision is where the rubber often meets the road. Busy advisors need to hire, especially the nine out of 10 independent RIAs whose client base has remained steady or increased, as this TD Ameritrade Institutional Advisor Study notes. However, many advisors aren’t sure whether to hire … read more

The ROI on Outsourcing

Going virtual can help you save money and work more efficiently in your firm. Consider the potential cost saved by not having to train a new employee, invest in technology and office space, and pay benefits as a return on investment by using virtual staff. Cost savings will vary dramatically depending on your geographic location … read more

New tech & the impact on staff

A new software program or hardware addition can help lighten your team’s workload. Every day tasks can be achieved more quickly and accurately – it’s an investment for today and tomorrow. But what about the employee who no longer has to worry about these tasks? Is his or her job going to be eliminated? What’s going on? These tough … read more

Change isn’t easy and yet amazingly rewarding! Check out this kick-in-the-gut Ted talk that might just help open your mind to the amazing.

I was out walking today to stretch out my limbs that creak like an 80 year old woman and realized that the intensive yoga class I took last night did not blow my Achilles or strain my neck permanently. It took 4 years of back and hip pain, multiple doctor and PT visits & a … read more

Time Blocking made Easy!

Benjamin Franklin once said, “You may delay, but time will not.” Time never stands still, so how can you manage this elusive resource? You and your staff can work more effectively by blocking out periods of time. Effective time management can lead to: Increased accuracy on projects Less stress, which leads to better decision-making A … read more

Football, your business, and how to succeed!

Football season is here and it’s easy to see that every team is as good as its players. Each player’s effort and skill set determines the success of the team. From the quarterback to the punter, and the offense to the defense, every player is striving towards one goal: VICTORY. A successful football team and … read more

5 Steps to Improving your Business and Working Less!

The saying, “not being able to see the forest through the trees” is the same old adage and yet we can’t see where things are disconnecting or what are the bottlenecks to business growth and happiness. And we owners all know it is IMPERATIVE to hire the right people that allow us the capacity to … read more

Using Outsourcers to Allow your Business to Grow

Running a financial planning business takes you into a lot of chicken-and-egg situations such as: finding time to implement time saving solutions. Click HERE to read tips on overcoming some of the chicken-and-egg situations you might be experiencing.

Take Control of Processes With a CRM!

Regular, sustained use of a CRM System is a key method to grow your business. The use of a CRM allows you to implement processes that will create a culture of consistency, predictability, and reliability in your business. Click HERE to learn why top advisory firms are using tools like CRM Systems to take their … read more

4 Ways to Boost Efficiency and Cut Costs in your Business

Improving your use of technology can significantly upgrade your business’s efficiency and productivity while lowering your staffing costs. Click HERE to read more about taking your business to the next level!  

How far should Advisers go when deciding to outsource?

Outlanders by Ed McCarthy Roger Pine, CFA, describes his firm, Briaud Financial Advisors in College Station, Texas as “extreme outsourcers.” He bases his decisions regarding which functions to outsource on two major criteria… click HERE to read more about what your peers and COO’s Goldman say about how far should advisers go when deciding to outsource.

Top Methods to Improve Profit Margin

Everyone wants to increase their profits. There is no better way to find out how, than by reading 30 industry expert’s responses! From CEO’s, VP’s, business coaches, entrepreneur’s, to My Virtual COO’s Jennifer Goldman, the variety of industry leaders provide their absolute #1 method to increase profitability in your business. No matter what type of … read more

How to Organize your Firm with Net Documents

Watch the video below to learn more about Net Documents for Financial Advisors and how you can efficiently organize and easily search all of your documents!

Learn Best Practice on Adding a Task in Redtail CRM

Watch our video for the best practice method of adding tasks into Redtail Leapfrog, which gives users the ability to quickly prioritize and monitor progress!

Solution to Managing Multiple Calendars

Watch our video and learn how to integrate different scheduling systems, so you can separately update events and view them all on one calendar!

How to Add a Task to your CRM to save time & easily monitor progress

Watch our video for the best practice method of adding tasks into Redtail Leapfrog so staff can quickly prioritize and you can monitor the progress!

Save Time Scheduling Appointments

Watch our video and learn how to reduce time when scheduling appointments with this newest technology!

Take a pulse check on your clients to confirm your services are valuable!

Surveying your clients is a great way to review the value of your services and identify new improvements and opportunities. Data from the surveys can point to services that may no longer be of value to the client or need more attention. So where do you start? Julie Littlechild, expert in client surveys, believes that “In … read more

How to Kill your Dreams!

TED talk: CLICK HERE Your staff isn’t as great as they could be – so daily work is taking longer than it should. Your technology is not the latest and greatest – so issues are arising with client data. The marketing opportunities don’t seem to be there – so bringing in new leads is harder … read more

Give the Gift of Outsourcing – to Yourself!

Wish you could outsource the holiday preparation because you are short on time? Imagine all of the presents perfectly wrapped, and the table set with a gourmet meal, flawlessly prepared for you and your family. That’s the feeling of having an outsourcer. Your business needs gifts and hot meals too, in a way. Think about … read more

Outsourcing is more popular than ever.. Read the latest benchmark study and view the directory of outsource providers

Wealth has produced the beginning of their 2014 series of benchmark reports on advisor performance and attitudes. As always, there are many interesting statistics and great information to help firms with ideas on how to improve their businesses. This first issue of the series focuses on one of our favorite topics, outsourcing. More functions within … read more

Latest TDA FA Insight report and the wealth management industry losing focus on profitability

TD Ameritrade and FA Insight teamed together again to produce an amazing report on firm profitability, growth drivers, standout firms’ traits, and more. There are many interesting statistics and great information to help firms with ideas on how to improve their businesses. What we found interesting is deep in the statistics about marketing, which we … read more

The best advice on effectively managing staff from a 9 year old

I am a small business owner and I have staff. I struggle with being the best manager I can be and encouraging my staff to free think, take initiative, and also get the work done. So my 9 year old son has the pleasure of hearing me explain my management struggles at the dinner table … read more

ObamaCare for business owners: Where do we stand now?

Cooney Health, Inc has provided a nice overview below:   What have we learned so far? Some employers are receiving very good renewals (-10% for example) and others are receiving very bad renewals (+20% for example).   Why is there such a variance between the good and the bad this year? The variance is due … read more

FPA report on Time Mgmt and Productivity is a Must Read!

FPA’s Research and Practice Institute, with Littlechild’s Advisor Impact survey experience and expertise, produced a great report that speaks to owner burnout, loss of control of your day, and offers solutions from your peers. We consider this a MUST READ and kudos to FPA for focusing on a real concern and need in the industry. … read more

Top 2 Tools to lowering burnout and the workload for under $50/year

The hottest topic is burnout of owners so here are our top 2 inexpensive tools that we love and that lower burnout:   #1. Appointment scheduler software (avg cost $50/year) that allows you to block out times you want to talk, allows painless meeting/phone call scheduling, and keeps you sane by avoiding the possibility of … read more

% Performance Reporting is Dead – You just don’t know it yet.

We are seeing a new pivot that we believe is worth noting and learning. The pivot is away from % performance reporting and toward the use of a PFM (Personal Financial Management) system to automatically collect data and report a client’s net worth statement to their email box without effort by the advisor. This pivot … read more

My Virtual COO is hiring!

We are hiring a Solutions Implementer and Executive Assistant so pass along the word to your peers. Thanks!   Click HERE for the posting.  

Read up on 2014 Tech Trends, Spending and Robo Advisers by FPA Roundtable with Tech Experts

FPA published a great summary of the latest tech trends and comments from MyVirtualCOO’s Goldman, Clientific’s Nicols, Technology Tool’s Bruckenstein and FP Pad’s Winterberg on Technology for Planners: Trends, Spending, and the Rise of Robo Advisers. It was moderated by Michael Kitces @MichaelKitces. Click HERE to read the predictions and comments!  

Sitting at your desk can kill you – yet another reason to meet clients and network

A great video reminder – get away from your desk before it kills you!   VIDEO   Just a friendly reminder that now is the time to setup your desk ergonomically with dual monitors, the right keyboard, and a headset for your phone. It is also the time to implement time saving habits and tech … read more

Target’s security breach and why processes are super important per hacker expert Mitnick

On CNN news this morning, expert hacker Mitnick couldn’t have said it better about Target’s security breach. “It is really about people, processes and technology and businesses need to be testing their processes to prevent issues”. Mitnick is an expert hacker hired by huge companies to test their systems. In Target’s case, this breach was … read more

Reading between the lines on all these Benchmarking reports

  There is nothing better than a great report on the health of advisory firms and how average firms stack up to “top performers”. has produced a great report (register HERE for it) that covers a lot of areas including AUM, Revenues, Profits, Expenses and more.   What is most interesting is that this … read more

NAPFA’s Interview with Goldman on trends and operations efficiencies solutions & profitability

  For anyone that is a NAPFA member, you can read about solutions to capacity and profitability issues in NAPFA’s latest publication. (Click HERE to view the cover page and summary).   We address some of the basic technology that all advisors should have to support transparency to the clients, improve internal staff communications, and … read more

INDUSTRY TRENDS – WHERE DO YOU STAND? Operations efficiencies, profitability and staffing…

  On November 6th 2pm EST join the Practice Management Study Group guest speaker Goldman for an open discussion on the latest trends in increasing profits and staffing.   Pre-submitted questions will also be answered with solutions so please submit any questions when you register.   Click HERE to register

The honest truth for advisors on “Is your iPhone turning you into a wimp?” article by Harvard

  Kudos to Bos and Cuddy at Harvard for doing a GREAT study on how interacting with tech devices like an iPhone and computer effect our behavior. Ironically, we were just about to publish a short article about the trend we see in the financial advisory industry that relates exactly to this so here it … read more

“RIA Margins Suffer” statistics and yet another solution to reduce operating costs and headaches

To continue this discussion that Britton of Wealth Management Mag started on the drastic drop in profit margins, we provide yet another solution.   Advisory firms that outsource portfolio back office functions save between 45 to 56 percent over a software and in house staff solution. The fact is that managing a portfolio back office … read more

“RIA Margins Suffer” statistics and why I think the data is misleading and this is a positive sign for our industry

  We are excited about this latest article and statistic that RIA profit margins have drastically dropped in the last few years. We ask advisors to take a step back and then read this article AGAIN with a new found appreciation for their accomplishments.   Why? Well here is what we know from being in … read more

COO published in TrustedAdvisor on Outsourcing Portfolio management or back office work

Article on Growing your business using portfolio back office outsourcers to get the work done and how you have choices of service.   Goldman writes….In the FPA’s Practice Management Solutions Journal, an article entitled Outsourcing Investment Management, Crowe cites a Cerulli Associates study in support of outsourcing investment management, noting that 75% of advisors find … read more

COO quoted on Virtual Assistants helping advisors cut through clutter of the day

WealthManagement’s Lauren Barack provides an article on using virtual assistance to get the work done without the emotional effort of managing a staff person, dealing with sick days, or providing the tech/desk and training in her latest ARTICLE (click here)   COO’s Goldman is quoted… she believes success with any virtual help, whether that’s an … read more

Overdoing the integrations with Salesforce CRM and causing shut downs…

For most Salesforce CRM users, ignorance is bliss. But for those firms looking to integrate multiple applications to save time collecting data, creating PowerPoint reports, and more, you will soon realize there is a limitation on the integrations with Salesforce. So we have a few tips for power integrators so your systems don’t shut down: … read more

Microsoft’s silent battle against Salesforce CRM

For Microsoft 365 email users, welcome to the silent battle between two behemoth firms. It turns out that 365 automatically black lists all of Salesforce’s 52 IP addresses. This means if you use the Salesforce CRM time saving email templates and mass email features and the recipient is using 365, your email will be quarantined … read more

Is Google Apps Right for my Financial Advisory Firm?

It is plain to see that Google can offer great value to small businesses with their Google Apps platform and the seamless integration they offer between all of your devices, such as your desktop computer, laptop, tablet and smartphone.  But is it right for you?  Today we take a look at what Google offers you … read more

Smooth Operator: Achieving Efficiencies in Your Practice

  In May Accelus interviewed Jennifer Goldman, President of My Virtual COO,  on her tips and ideas on how to achieve operational efficiencies in your advisory practice.   The interview addresses the following topics:   – The role of a Virtual COO – Gaining efficiencies required to grow your firm – Developing a game plan … read more

NAPFA Presentation: Building a Higher Growth Practice

This NAPFA DC Presentation ” Building a Higher Growth Practice” includes: Visual flowcharts of integrations that will reduce your workload A list of operational functions you can outsource to US based industry experts A map you can use to lay out your firm’s technology Advisor Success Stories Cost savings you can expect by streamlining your … read more

MVCOO quoted in Wealth Management article: Hands Off

Financial advisor Kristin Harad is a master at finding other people to do her work for her. She’s not lazy, nor does she possess Tom Sawyer’s ability to convince others that chores are actually fun. As a lone practitioner and a marketing consultant to other financial advisors, Harad understands more than most the value of … read more

Recap of what I learned at the T3 Technology Tools for Today Conference

This year’s T3 Technology Tools for today conference was a great opportunity for advisors to interact directly with executives from the custodians and technology vendors that they rely on to run their firms.  For those of you who couldn’t make it to the panel I moderated here’s a recap of new discoveries and what I … read more

Featured in the Trusted Advisor: CRM: No Longer an Option For Advisory Firm Growth

  There’s no denying it: for financial advisors, a client relationship management (CRM) system is now an absolutely necessary tool for growth.   In the past, advisors in small practices might have been able to manage without it. But today, with clients demanding more for less and the advisor role continuing to grow in complexity, … read more

New Book Offers Tech Advice and Practice Management Solutions

Internationally acclaimed experts on technology in the financial services industry, David Drucker and Joel Bruckenstein ,are releasing their second book, Technology Tools for Today’s High-Margin Practice: How Client-Centered Financial Advisors Can Cut Paperwork, Overhead, and Wasted Hours on February 6, 2013.   Thirteen financial industry subject matter experts, including Jennifer Goldman of My Virtual COO, weigh … read more

WEBINAR: Learn how to become Super Compliant Using Processes & Workflows

Join us on the FPA Webinar  on Becoming Super Compliant Using Processes and Workflows.   COO’s Goldman will review what is a workflow or process, how it makes you more compliant, and show you two examples of workflows – compliance and financial plan meeting and prep. You will learn the jargon, how to create a … read more

SPEAKING: COO’s Goldman speaking at “Kick Your Firm Into High Gear” Fidelity event in Denver

Fidelity continues to invest & provide actionable solutions to boost profit & growth to emerging high-growth advisors with their kick-start events happening all over the country.”Kick Your Firm Into High Gear” Is growing your practice your number one priority?  Do you spend too much time with your least valuable clients?  Are you tired of working … read more

FPPad Video: How TrustFort helps make financial service companies more efficient

TrustFort powers many back-office functions of small- and mid-size broker-dealers and is expanding its partnerships with RIA technology providersLast week I introduced the first of three videos on TrustFort, a Woburn, Mass.-based technology provider (see TrustFort targets broker-dealers and large RIAs with its scalable back office solutions).In the second video below, I asked TrustFort President & CEO … read more

ARTICLE – Goldman quoted in NAPFA Magazine on Nine Ways to Embed Compliance when Outsourcing to Virtual Staff

Jen Goldman of My Virtual COO quoted in June NAPFA Magazine article on the topic of using Outsourcers and being compliant. Click NAPFA Advisor Magazine quotes Virtual Solutions in June’s Publication to view.

NAPFA article on Compliance and using Outsourcers quotes Goldman, COO’s President

My Virtual COO’s President, Jen Goldman, speaks in NAPFA publication about compliance measures to consider when using outsourcers to get the work done. Click NAPFA Advisor Magazine quotes Virtual Solutions in June’s Publication to view the article and view commentary on the LinkedIn Group: Virtual Solutions for Advisors.

FPPad Video:Think pipes® integration into Veo® platform enables advisers to trade options more efficiently

TD Ameritrade Institutional’s integration of an award-winning trading platform will help advisers manage options strategies in just a few clicks Time and inflation are eating away at your clients’ portfolios in the current low-return market environment. In response, many of you are considering options to diversify investment strategies, hedge specific sector exposure, or increase portfolio income. … read more

ARTICLE – To Grow, Go Virtual

To Grow Go Virtual As seen in the July/August 2012 edition of FPA’s Practice Management Solutions magazine.

Technology Functions Ripe for Outsourcing

Unlike some other outsourced functions, technology is one that isn’t likely to be any more than a part-time or contract position in the typical financial advisory firm. That’s because only a very large firm would ever be able to justify paying the salary of a full-time chief technology officer or a technology manager.   Still, … read more

FPPAD Video: TD’s Integration Analyzer to analyze technology integrations

Financial advisers can quickly assess technology integrations with TD Ameritrade Institutional’s analysis tool called the Integration Analyzer. Available to all of its affiliated advisers, Integration Analyzer quickly displays how well one software program integrates with another, and with Veo® Open Access. For insight as to how Integration Analyzer works, I met with Chris Valleley, Director … read more

FPPAD Video: FutureAdvisor co-founder Bo Lu at FinovateSpring 2012

Here is a spotlight interview with FutureAdvisor’s co-founder Bo Lu about his company’s service offering to the retail investor. Hear how the platform is designed to deliver personalized, actionable advice to all investors and the company’s plans to incorporate financial advisors via recommendation marketplace.Click HERE for the video.

Advisor Websites and My Virtual COO announce partnership!

Advisor Websites, a leading web-based software used by financial professionals to create and manage compliant websites, is pleased to announce its alliance with My Virtual COO, the leading implementer of customized processes and integrated technology and virtual staff to create a more profitable practice. This strategic alliance demonstrates Advisor Websites’ commitment to providing technological solutions … read more

FPPAD Video: Sarah Carter of Actiance on social media compliance for financial professionals

Actiance is a Belmont, Calif.-based company that provides compliance solutions for regulated financial professionals in the form of its Socialite Engage platform. Here Sarah Carter is talking about what Socialite Engage can do for advisers and gives a bonus tip on what day and time is best to post social media updates. View HERE

FPPAD Video: inStream Solutions CEO Alex Murguia about ways the application expands beyond independent RIA marketplace.

Bill Winterberg covered inStream Solutions’ presentation at FinovateSpring 2012. Watch a short spotlight video with inStream CEO Alex Murguia about the ways the application can expand beyond the independent RIA marketplace HERE

FPPAD Video: iQuantifi CEO Tom White at FinovateSpring 2012

iQuantifi is a new company Bill Winterberg discovered at FinovateSpring 2012. He met with with founder and CEO Tom White to get more information on the company’s product. Post and video HERE

Ameriprise implements new technology platform & productivity levels & net profits rise…

Ameriprise implements new technology platform & productivity levels & net profits rise despite gross revenue being flat. Read more HERE

Bulk assignment of view rights now available in Redtail CRM

Can now bulk assign view rights in Redtail CRM. Great for firms with multiple advisors or personal contacts meant to be private! Details HERE

Neal Ringquist, president of Advisor Software, Inc. speaks about his company’s enterprise integrations of rebalancing software

FPPad’s Video Spotlight with Advisor Software, Inc. President Neal Ringquist on enterprise integrations, goalgamiPro, and the household balance sheet. Video Spotlight: Jennifer Goldman!

WATCH  My Virtual COO President Jennifer Goldman on Restoring Advisers’ Work/Life Balance.

Time Management Presentation by Ginny Hudgens!


New Planner Recruiting’s Latest Post

Super article by New Planner Recruiting on planning graduates, who hiring them, which schools are producing great planners to hire. Click HERE

NetDocuments Video Tutorial!

NetDocuments released a quick demo video for Financial Services Advisors. See the video HERE.

My Virtual COO and Pinnacle release Game Plan video.

“In February Pinnacle Advisor Solutions, announced an alliance with My Virtual COO. This alliance expands the back office solutions available to emerging advisors through Pinnacle Advisor Solutions. A video outlining their joint services has been released.”

Time Trade & Redtail Integration:

Another great leap into efficiency!! COO’s favored appointment scheduling system Time Trade now integrates with Redtail Zimbra calendar/email system.

Great Article in FPM by Bob Veres highlighting My Virtual COO!

Chicken & Egg: Don’t let a simple maze of paradoxes slow down the growth of your RIA practice.

Ginny Hudgens’ presentation on Strategic Planning was excellent!

“For anyone looking to get a grip on how to move their business forward. Free recording of the presentation available HERE.”

My Virtual COO Announces Alliance with Pinnacle Advisor Solutions!

“Pinnacle Advisor Solutions is announcing an alliance with My Virtual COO. This alliance expands the back office solutions available to emerging advisors through Pinnacle Advisor Solutions.’

NetDocument’s new Apps and Integrations!

NetDocuments has released its 1.1 release on the Apple App Store on January 5, 2012. It’s free on the App Store and anyone who has a NetDocuments account can login to view their entire contents, including the Home Page, Cabinets, Workspaces, Folders, Saved Searches, Filters, and can search the entire repository. Watch video HERE! NetDocuments … read more

Join COO for 48 hour jolt of latest tech & virtual staff options!

Click HERE for more info. Learn the latest & greatest ways to make your advisory practice scalable & efficient.

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