Financial Planning Consultants


Builder Suite E-News
June/July, 2005
Ed Morrow's Text Library System becomes Practice Builder

In This Issue


Practice Builder 2005 Annual Update Available NOW

Update Practice Builder Today

The 2005 Annual Update for Practice Builder is now available and will be released to Auto Update users first.  Don’t miss this advantage; why not pay less for all the excellent service, support and enhancements you are currently receiving.  We are here to support you in your business success.

 

Practice Builder

2005 Annual Update

 

This annual update supports our efforts to provide five important benefits:

  • Email support and FAQ (Frequently Asked Questions)
  • Toll free telephone technical support
  • Web-based support including free file and update downloads
  • Annual software enhancements
  • Continuous text updates

Just some of the our new enhancements and features:  

  • 2005 Mid-Year Tax Planning Memo
  • Action Dates
  • Map Your Contact Address
  • Telephone Outside Line Access
  • Easy to use Template Maintenance
  • Assign Marketing Prompt
  • Laser App

 


Checklists for Success by Edwin P. Morrow, CLU, ChFC, CFP®, CEP, RFC

 

The human brain is capable of storing an abundance of information. In today's fast-paced society, the average person receives over one thousand signals.  Some are messages to be followed up on, some are For Your Information, some are top priority, and some are not. With so much incoming stimuli to the brain in addition to the output we're required to produce each day, its no wonder we forget to bring home a gallon of milk! 

One solution derived from the ingenuity of our minds is the use of checklists. We use them in many areas of our lives.  Lists help us remember, organize, prioritize and accomplish more. Hence the grocery list, address book, packing list, "to-do" list and the "list" goes on and on. The need for checklists isn't a sign of senility  - rather, the use of lists is a sign of productivity and efficient processing of information.

Now let's apply this to the professional world of financial advisory services. Remember, the brain must manage over one thousand signals a day.  How can we, amid the hustle and bustle, be sure we're remembering all that must be done in a day - how about in a week? It's called RECALL. This is why we have task lists and appointment books - there is no way to instantly recall all that may be required of you in any single day. The same is true in working with clients.

It is vital that we cover all the bases in a client's financial plan. But it isn't reasonable to expect a thorough and complete recommendation without the use of a checklist to prompt our memory.

A master checklist of all the planning recommendations your firm uses will facilitate accuracy and efficient delivery of implementation items to the client for the plan delivery meeting.  How can use of a checklist further due diligence?

  • Communicates to the client in writing all the items needed to accomplish his or her goals.
  • Assigns responsibility to each implementation item - whether to be done by the client, CPA, Planner, etc.
  • Can be used internally - stapled to the inside to the client file to ensure timely completion.
  • Forces the client to take responsibility for the plan by accepting or rejecting each recommendation and signing off.
  • Protects your practice in the event of litigation by serving as a clear record of your effort and recommendations.
  • The burden of proof is on you.  A checklist provides written proof of communication and the client's signature indicates his or her acceptance.

A template can be compiled in any word processor of all the implementation items used in your practice.  Practice Builder Financial also provides a checklist selection feature that categorizes implementation items into categories for quick reference. If you would like to review the Implementation Checklist call 800.666.1656 or email Charlotte.

 

Ed Morrow, Chairman and CEO

Ed Morrow is a personal financial planner and a consultant to financial advisors in the areas of practice management and computerization.  He is the author of six software programs, including the financial Practice Builder Financial formerly “Text Library System.”  You may contact Ed Morrow at the Financial Planning Building, P. O. Box 0430, Middletown, OH  45042, phone 800. 666.1656 or edm@FinancialSoftware.com 

Plan Builder - EnterAct

 

 

The traditional approach to presenting a financial plan involves inputting data, analyzing reports and preparing a printed report for presentation to the client.  Most software programs also provide colorful graphs and charts to accompany the text and numbers because a picture is worthContact and ask how you can SAVE  25%  a thousand words. 

Plan Builder, the evolution of EnterAct, LGX and LifeGoals, powered by CCH tax research, takes planning to the next level, getting the client involved in a moving picture.  Plan Builder was designed to be used effectively with the client viewing it at the same time and interacting with you and the software to solve their problems.

 

Using Plan Builder you can show clients, in real-time, the answers to their “what-if” questions.  This means you can motivate them to take action today.  No longer will you need to set a later appointment after you have had time to “re-run the numbers” at which time you will need to spend time getting them re-energized to solve their problem(s).  With Plan Builder you can be more productive and serve your clientele more efficiently.


User Workshops

 

Build Your Practice with a User Workshop You Can Host at Your Office

These sponsored training programs fully involve you in the techniques and practices of the complete utilization of Builder Suite products. You will be challenged to explore the capabilities of Practice Builder. The workshops cover the most current features available:

 

  • Techniques to differentiate yourself by leveraging the client relationship management capabilities of Practice Builder for Top of Mind Awareness
  • Methods for implementing your "Best Practices" across targeted clients, prospects, and referrals with less demand on the time needed for one-on-one communication
  • Best practices for utilization of the client/prospect screens
  • Effectively implement the Referral Campaign
  • Orchestrate seminar from the beginning to the follow up
  • Ways to strengthen client communication
  • Answers to your questions...

August 26, Practice Builder User Workshop

  • Sponsor: Roy M. Strong
  • Company: Independent Associates
  • Address: 900 East 56th Street, Suite 200
  • City, State, Zip: Brownsburg, IN 46112
  • Time: 8:30 to 5:00

August 17, Plan Builder User Workshop

  • Sponsor: Jeff Rachlin
  • Address: 777 Old Saw Mill River Road
  • City, State, Zip: Tarrytown, NY 10591
  • Time: 8:30 to 5:00

Financial Planning Consultants will send a trainer for on-site consultation and training to your office for one, two or three days. On-site Training or call 800.666.1656.

If you are interested in hosting a user workshop in your area - and attending for free - just call Lea at 800.666.1656 ext. 21 and she'll discuss the requirements.

HOT:  Hands on Training - Practice Builder customers in our training facility for the Hands on Training two day session call 800.666.1656 ext 13 or email about our next session in Middletown Ohio on August 11 & 12. 


Support Tip - Networking Your Office Computer   by Lea Pence

 

If you are now considering the possibilities of a computer network within your office you are faced with myriad decisions and opportunities. It can be overwhelming even to the tech savvy financial professional.  For the technical novice, it can be an overwhelming nightmare.

This document will try to shed some light on the opportunities and the decisions that you will face. Unfortunately, the variety of equipment, operating systems and configurations precludes an easy, one choice - "this is the best way to do it" answer - but we hope this document and the attached references will guide you to sound decisions.

The opportunities provided by an office computer network probably extend beyond what you have considered. Here are just a few that may be important to you:

  • An additional communication channel within the office
  • Shared files and access to common data
  • Possibility of remote access to the network from outside the office

Networking Your Office Computer

The question of connection of one PC to another in the same office; or to your office PC from a computer in a remote location, is a problem that can be solved in any one of many different ways. Careful consideration of all the information that follows will lead you through that decision making process and guide you as you do it yourself or select a local computer technician to make the proper connections.

The first decision a network engineer (that’s your new title as you struggle with these options, choices and decisions) faces is one of network architecture – or more simply, between a peer to peer network and a true, client/server network.

 

Peer to Peer Networks

 

Peer to Peer (often abbreviated as P2P) is a type of network where each computer (or workstation) has equivalent capabilities and responsibilities. Peer to peer networks are generally simple and easier to set up - but they usually do not offer the same performance under heavy loads. 

 

One of the earliest, largest and most famous examples of P2P networks was probably Napster, which saw its peak in the late 90's before they were shutdown at the hands of the music industry. The Napster network allowed people from all over the world to "share" files online via the Internet.  Files were stored on individual users' computers, and transfers took place between users.

In your office this could mean simply that your desktop PC would serve as the main repository of all important files and data. Your staff associate’s computer and perhaps your notebook computer could both then access these files – or share the information.  Generally, additional computer equipment (other than network adapters commonly included with most PCs) will not be required to set up a P2P network.

Here are links to articles describing  Windows 95-98, P2P set-up:

Windows95 Peer-to-Peer Networking

Windows 9X Peer to Peer Networks

Windows XP takes this a step further and makes it even easier to share a computer's disks and folders with other computers on the network, using a method called Simple File Sharing. And it really is simple. If a disk or folder is shared, everyone on the network can access it. There are no user permissions and no passwords. Because sharing in this way is so wide open, Windows XP tries to protect you from some potential security risks. Note: Windows XP Professional has a much more powerful way to control file sharing. For full details, see the article on Windows XP Professional File Sharing

True Client/Server

P2P networks differ from client/server architecture, in which some computers are dedicated to serving the others. Servers are powerful computers dedicated to managing disk drives (file servers), printers (print servers), or network traffic (network servers). The clients in this case are the PCs or workstations on which users run applications. Client computers rely on servers for resources, such as files, devices, and even processing power.

Many small businesses mistakenly think that they're too small to cost-justify a "real" client/server network, however because small businesses want, and in most cases need, the same technology tools as their larger competitors, deploying a peer-to-peer network doesn't make small business sense.


In fact, when purchase decisions are based solely on the initial price, small businesses tend to underestimate their technology requirements. If your organization merits a secure, reliable, scalable, and flexible technology backbone, you need a "real", dedicated server. The site below will give total definition to the problem and full network solution. 

http://www.7thdimension.com/jf1.html

Remote Access

Now that you have your office network up and running, the next step that you’ll find incredibly valuable is to enable remote access.  Several options are available, depending on the network options you have chosen above.  Some of the more popular are PC Anywhere, Go to My PC, BeInSync and Terminal Services options located in Windows XP. Your choice of this connection should be explained to your local PC Network Technician at the time he sets the Network up on your computers. 

Symantec's PC Anywhere

Go to my PC

Be In Sync

Terminal Services in Windows Server 2003 provides new options for application deployment, more efficient access to data over low bandwidth, reuse of older hardware, remote management, and other tasks. Complete information can be found at the site below.

www.microsoft.com/windowsserver2003/technologies/terminalservices/

 

However you decide to connect from an off site location you should have the facts available to make your decision. Explore the page below to learn about some of the things to consider and tools you can use to access your email and files, as well as the pros and cons of using each. Depending on your situation, you may use all or just one of these methods.

http://www.microsoft.com/atwork/stayconnected/home/connect.mspx

 

Lea Pence, Senior Support Specialist

Lea Pence, Senior Support Specialist is responsible for assisting customers with the installation, implementation, and routine use of Practice Builder. She also functions as a liaison between customers and our development team to ensure enhancements are added that strengthen their use of our programs. We are very pleased to have her contribute articles and support tips to enhance your user experience.

You may contact Lea Pence t the Financial Planning Building, P. O. Box 0430, Middletown, OH  45042, phone 800. 666.1656 ext. 21 or support@FinancialSoftware.com 

 


Referral Program

 

At Financial Planning Consultants we are using digital cameras more and more and having lots of fun doing it, too. We thought you might like to share the enjoyment and see some of the great results that you can achieve. So we have purchased a bundle of 3 mega-pixel, name brand, digital cameras and we are going to give them away! 

 

If you don’t know anything about digital cameras, that’s OK.  These are easy to use - just point and shoot - and good enough to print even 8” x 10” prints. You should have one of these dedicated for use in your practice and another just to carry with you. 

 

You will be surprised how flattered your clients are when you ask for their photo and tell them you are going to keep a copy in your records. Once you have the image our Technical Support team will help you import it into Practice Builder so it’s available with a single mouse click. 

Then start using the camera for snapshots to include in newsletters, emails or any other published material. Even a small photo attached to any article will guarantee more readers.    

So how can you get yours? We are giving one of these digital cameras to the referrer of every advisor that buys Practice Builder or Plan Builder between now and the Annual Update in June 2005.  To get yours just complete the Financial Software Referral Form.  We’ll then contact the advisors you nominate and volunteer to show them the ways they too can use these powerful software systems. 

 

When any advisor you have nominated buys either system we’ll send you your new camera.

Complete the form now! Send us one, two or three names and we’ll keep you informed as we contact them.


Quick Links...

  • Ed Morrow's speaking schedule
  • More about us
  • •  Spotlight Testimonial

    Download Acrobat Reader to access the latest PDF files.

     

     


    Archived Newsletters

    BulderSuite E-News, June/July 2005

    BuilderSuite E-News,April/May 2005

    BuilderSuite E-news, Feb/March 2005

    BuilderSuite E-News, January, 2005

    TLS E-News, November, 2004