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Mobile Portfolio Management Gets Easier

One of the first mobile portfolio management apps for advisors gets an update, while an under-the-"radar" provider debuts its own native app.

Bill Winterberg, 08/08/2013

Financial advisors continue to seek solutions that allow them to be efficient and productive with their mobile devices. Two and a half years ago, I covered the mobile app from portfolio management software provider Orion Advisor Services LLC that, along with BlueSky Mobile from Black Diamond Performance Reporting (later acquired by Advent), set the precedent of advisors using mobile devices to conveniently access client portfolio information while on the go (see Hop on the Mobile Bandwagon).

Since then, many of the major institutional custodians added native mobile apps that advisors can use to browse client portfolios, including Schwab Advisor Center® Mobile from Schwab Advisor Services, Veo® Mobile from TD Ameritrade Institutional, WealthCentral Mobile from Fidelity Institutional Wealth Services, and NetX360 Mobile from Pershing Advisor Solutions.

But when multiple relationships with custodians are in place, advisors can't view all of their clients' assets in one app. One solution is to consolidate client portfolio data with third-party providers like Black Diamond and Orion and leverage their existing mobile apps.

Now Omaha, Neb.-based Orion Advisor Services is out with a new version of its app, and AssetBook Inc., another provider of Web-based portfolio management software, released a brand new native app for its clients to further level the portfolio management mobile app playing field.

Orion Mobile Version Two
In June, Orion Advisor Services released the second version of its original Orion Mobile app for iPhone, iPad, and Android.

"Based on over two years of experience with the app, coupled with feedback from Apple, we moved to a singular focus with the latest version of the Orion Mobile app," said Eric Clarke, president of Orion Advisor Services.

"Most [advisors and clients] who used the [first version of the] app were simply looking for one thing: portfolio valuation. So we wanted to keep things as clean as possible," added Clarke.

Sure enough, the original screen showing a client's household snapshot and an asset allocation pie chart has been replaced with a line graph illustrating a client's portfolio valuation over the last 12 months. The graph is interactive, so tapping any point in the graph displays the date of the point and the value of the total portfolio on that day. Below the valuation graph is a list of all of the client's accounts, labeled by account registration with the value of each account displayed on the right.

Bill Winterberg, CFP, is a technology and operations consultant to independent financial advisors. His comments on technology have been featured in a variety of financial industry publications. You can view more information about Bill and see his schedule of upcoming speaking engagements at his Web site, FPPad.com. The author is a freelance contributor to MorningstarAdvisor.com. The views expressed in this article may or may not reflect the views of Morningstar.

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