The Opportunities and Challenges of Integrating Technology into a Practice

Opiela, Nancy
June 1996
Journal of Financial Planning;Jun96, Vol. 9 Issue 3, p48
Academic Journal
This article evaluates the technological proficiency and discusses the successes, mistakes, Internet experiences, and "technological leaps" that have affected the bottom line of some financial planning practitioners. Free-floating information technology has allowed them to get organized. The greatest impact has been in the area of not passing paperwork between desks. To get their clients in on this paper-cutting, they give them a package for a major online service and they use e-mail. Their reaction has been very positive. They don't have a lot of telephone tag and they can send spreadsheets or notes, and people can play around with them. Scanning enables them to keep their desk clean and its a lot more effective than having piles of paper that they used to just pass around. Recently some of them have constructed their own database and this has been a tremendous help in terms of getting together the portfolio manager information and other necessary administrative information in a way that they can access it.


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