IPads are popping up everywhere you see a financial advisor these days. There’s nothing quite like replacing piles of paper for  a sleek electronic presentation when showing “what if” scenarios to a client.

The iPad should dramatically curb situations where advisors have to run back to their office to run a set of potential outcomes for clients. Such efforts represent a loss of all-important face time moments with the client.

The iPad makes the documents that somehow “didn’t make the meeting” a thing of the past.

Meanwhile, tasks that often require follow-up after the original meeting now can be accomplished during the meeting. Additionally, if access to prior meeting notes via an advisor’s CRM or a future appointment needs to be made, iPads allow advisors to do so in the moment.

Although some may view early adopters as jumping on a “fad,” there are indications that access to this new technology may change the way client communications and meetings are handled in the future.

The latest data available from Resolve Market Research, Citrix, Yahoo and others on iPad usage reports:

• Broad appeal Early adopters of the iPad tended to be young professionals; between the ages of 22 to 45, with the next group of adopters being much older then might be expected, 45 and older, according to Citrix. The latter segment is crucial for advisors as they make up 56% of iPad users.

• Affluent tilt Yahoo has reported a high usage of Flickr, as well as Finance, News and Sports sites with iPad users. Additionally, 94% of iPad users are more likely to be affluent consumers with solid wealth and strong incomes. This is an audience ripe for investment commentaries via streaming video, blogs and commentary.

• Stimulates more browsing Whereas publications such as GQ.com and Vanityfair.com are viewed from desktops from two to four minutes per month, viewership times increase with an iPad. These same titles’ iPad Apps are seeing up top 60 minutes worth of online browsing.

Ultimately, the iPad is a global phenomenon that is already revolutionizing online reading, browsing and viewing habits. This is good for clients — and advisors.

By D. Bruce Johnston, President and CEO, Advisolocity

We are pleased to offer our readers an on-demand link to the popular webinar: “Social Media: Can Advisors Afford to Miss It?”

To hear the latest thinking from the industry leaders in financial services social media marketing — Fidelity, American Century, Socialware and Advisolocity — please click the accompanying thumbnail link.

Hear Jennifer Sussman, Director of Online Marketing for American Century provide highlights from her firm’s recently completed “Financial Professionals Social Media Adoption Study.”

Next, benefit from Ross Ozer’s insights. As Vice President of Marketing for Fidelity Institutional Wealth Services, Mr. Ozer comments on how social media can help advisors generate more referrals, greater marketplace awareness and extend their reach.

Do you consider compliance to be a major barrier to adopting social media in your practice? If  so, you are not alone.

Eighty percent of webinar attendees saw compliance risk as a key obstacle — until they listened to Chad Bockius, CEO of Socialware, who had much to contribute to understanding how to overcome social media’s compliance risks.

I was pleased to be able to deliver the results of one of our case studies as an example of how social media can work effectively in advisors’ day-to-day practice to raise AUM and revenue.

Also, if you missed out on the opportunity yesterday to download a FREE copy of Advisolocity’s white paper: “One-2-One: How to have 1000 client conversations at once,” please do so on the link provided.

Topics covered during the 45-minute Q&A session ran the gamut from:

• What are the implications of FINRA Notice 10-06 for financial advisors and are there solution sets available to comply with the archiving requirements?
• Are clients really using social networks for financial advice and, more importantly, for advisor selection?
• Will social media overload the compliance department?
• What are the nuances of the compliance demands social media poses that make it so difficult for firms to understand?
• Why are some firms staking a claim to social media applications while the vast majority sit back and watch?
• What about advisors who have primarily older clients? Should they consider social media tools as strictly suited for Gen Y and X, and not baby boomers?

If you have questions that were left unanswered after you listen to the discussion, please contact Bruce Johnston at bruce@advisolocity.com. I will get your question answered for you in short order. In the meantime, enjoy!

Last year, as imploding credit markets roiled the economy, mutual fund organizations throughout the country took stock of their revenue prospects.

It was clear that a change or two was in the wind at Denver’s Old Mutual Investment Partners, too. For Chief Executive Officer, D. Bruce Johnston, one more change was clear: He wanted to do something different.

From thought leadership to measuring results

Two major influences fueled his thinking: The prolific blogging activity of his friend, the best-selling author of The Ultimate Client Experience, Scott McKain and the promise of social media metrics and analytics in measuring the success of advisor value-added programs. After serving as a C-level executive at Conseco Funds, Garthmore Funds, Sentinel Funds and Old Mutual, he wanted to take a closer look at the role of social media in transforming business strategies in general and mutual fund distribution in particular.

Bruce shifted his family to Tuttle, Oklahoma where he started networking, interviewing industry thought leaders and practicing the social media arts. In short order, his blog, DBJ Associates became a rising source of reliable social media information for the relatively slow-to-adapt financial services industry.

He also completed a program to provide vigorous, aggressive third-party blogging support to an RIA who wished to attract interest in tax planning themes during the dog days of summer.

Bruce continued, “Social media in the form of social networks, online communities or blogs will become more and more a routine part of marketing, sales and distribution. That’s where the future is headed.”

According to Kasina and Horsesmouth, it’s official.

Financial advisers find American Funds’ adviser-only site the best, two-to-one, over nearest rival Pimco/Allianz.

Can creative, marketing and managerial professionals learn something from this achievement?
Web designer Zach Hedges of Actualize Media thinks so.

Why American Funds’ Adviser Center is the one to beat

“A solid social media strategy begins with a well-crafted web site. Believe it or not, the first thing that is right about this site is that the tagline provides a clear message: this site is about the advisor,” Zach said. “There are many sites out there where the ‘you’ is used for both customers and advisors.”

“The second strength is the intuitive navigation that step-by-step takes the adviser through the qualifying process. Well-organized and friendly to business-building, clearly marked prompts and suggestions keep the adviser from becoming overwhelmed.

“The hyperlinks provide transitions to statements like ‘let me show you what I mean’ which leads to further client qualification and a personalized hypothetical. Very cool.

“Third, the site shows you where to find more resources and support — in a way that leads to cross-selling opportunities.

“Attractive and conservative, the site seems designed for people on the move. Fonts are big and bold. The brand is American, red, white and blue all the way. This site just keeps on giving.”