In Practice March 5, 2013

Adviser Efficiency Stems From Integrating Systems

Advisers need to integrate workflows, technology and human capital, according to a white paper from Fox Financial Planning Network (FFPN). 
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FFPN highlights the factors that advisers’ businesses must have to maximize firm efficiency. “The Integrated Practice: Uniting Systems, Technology, Practice Management and Human Capital to Create an Efficient, Profitable, & Enjoyable Financial Advisory Business” says integration of workflows, tech solutions, practice management strategies and human capital are needed to deliver the best client service and create an enjoyable working environment.

“As firms have grown, most have not had a vision of what they want their business to evolve to, and as a result are stuck in third gear, unable to shift into fourth and fifth,” said Deborah Fox, chief executive and founder of San Diego-based FFPN.

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The paper introduces the concept of “the Integrated Practice,” a trademarked process of business management that connects all parts of a firm. The report documents the evolution of the independent adviser industry and how the typical firm has not adopted and adhered to standard business practices, such as having a clear business plan, standardized systems for delivering services, effective hiring and retention policies for staff or appropriate use and integration of available technology solutions.

The report, second in a series of practice management resources from FFPN, is available for free download on the FFPN site at www.FoxFinancialPlanningNetwork.com.

Deals & People March 5, 2013

Fiduciary Trust Co. Names Managing Director

Jeffrey MacDonald has been named managing director and senior portfolio manager on the fixed-income team of Fiduciary Trust Company International. 
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MacDonald is responsible for managing fixed-income portfolios for individuals, families and institutions.

MacDonald brings more than 20 years of experience across all sectors of the global fixed-income market. Before joining Fiduciary Trust, based in New York, he was senior portfolio manager for Cutwater Asset Management, where he oversaw a team responsible for over $15 billion in fixed-income assets, and Hartford Investment Management Company, where he co-managed 40 multi-sector portfolios. Previously, he was a fixed-income portfolio analyst at Wellington Management Company LLP. He began his career at Fidelity Investments.

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MacDonald holds a bachelor’s degree from Trinity College and a master’s degree in business administration from Boston University. 

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