Press

  • NAAIM Announces Member Benefit Agreement with IPS AdvisorPro®
    NAAIM, the National Association of Active Investment Managers, just announced an agreement with IPS AdvisorPro® which will offer its members discounted access to IPS AdvisorPro's innovative technology platform for creating, updating and managing Investment Policy Statements (IPS).  Please click here to read the recent Press Release. To introduce IPS ...
  • PlanAdviser’s Article re: Investment Policy Statements
    The recent Russell Investments Financial Outlook survey garnered significant media attention with regard to their findings about the use of Investment Policy Statements (IPS).  In a recent article from PlanAdviser (Jill Cornfield, March 21, 2013) titled What Advisers Say, What Investors Hear, Rod Greenshields, consulting director for Russell's U.S. adviser-sold business, stated ...
  • FA Magazine Re-post: Investment Policy Statements Help Keep Investors On Course
    Financial Advisor Magazine published an article recently based on a survey conducted by Russell Investments; the article was titled Survey: Investment Policy Statements Help Keep Investors On Course (Kathy Lynch, March 25, 2013).  One of the take-aways noted by Russell Investments following their survey was 'this may be an indication that ...
  • Investment Policy Statements: An Advisor’s Perspective from WSJ Wealth Manager Blog
    The Wall Street Journal (WSJ) Blog recently posted an article written by an advisor, Kent Grealish; the posting, titled Voices: Kent Grealish, on Investment Policy Statements (January 30, 2013), expresses the author's insight to the importance of using an Investment Policy Statement (IPS).  The following quote is from this article: ...
  • Financial Fitness includes an Investment Policy Statement
    In an article posted on the Forbes website, physical training such as that of Olympic competitors, includes a long-term training regimen to work toward their goals prior to competing in the Olympics.  The author of the article, Holly Green, notes the parallel of having a long term financial plan to ...
  • Investment Policy Statements: A ‘Soup to Nuts Blueprint’ for a 401(k) plan
    Many employers offer 401(k) plans for their employees, with good intentions, but may discover that the plans they purchased are not working to achieve the desired benefit(s) of their employees.  With new regulations on the way, employers should be advised to understand the plans they purchased and identify changes that ...
  • Commonwealth Financial Network® Announces Partnership with IPS AdvisorPro®
                                              FOR IMMEDIATE RELEASE For additional information, contact:          Emily Guadagnoli 781.736.7980, x9639 Manager, Media Relations eguadagnoli@commonwealth.com Commonwealth Financial Network                www.commonwealth.com   COMMONWEALTH PARTNERS WITH IPS ADVISORPRO® TO HELP ADVISORS DELIVER COMPLIANT INVESTMENT POLICY STATEMENTS Waltham, MA (July 2, 2012)—Commonwealth Financial Network® has partnered with IPS AdvisorPro® to offer advisors ...
  • IPS AdvisorPro® Announces Intern Training Program
     IPS AdvisorPro® Launches Intern Training Program ~ Innovative program will train interns at advisory firms to implement Investment Policy Statements as well as highlight ways to facilitate a successful internship Miami, FL – June 13, 2011.  IPS AdvisorPro® announced today a new training program designed to enhance the intern experience at financial advisory firms by providing them with a technology focus as well as sharing the best practices for what makes a successful internship.  The IPS AdvisorPro® intern training program will provide training to interns to manage the Investment Policy Statement (IPS) process through the innovative IPS AdvisorPro® technology platform.  Additionally, the training program will offer tips, ideas, best practices and strategies for designing a meaningful experience that will position interns for a future career in the wealth management industry. Click here  to download the PDF version of this Press Release.
  • IPS AdvisorPro® Selected by United Planners
    United Planners Selects IPS AdvisorPro® For Investment Planning Technology ~ Innovative Platform Will Provide United Planners Financial Services with Web-based Tools for Creating Investment Policy Statements~ Miami, FL and Scottsdale, AZ– May 23, 2011.  United Planners Financial Services announced today the selection of IPS AdvisorPro® to provide their sales force with advanced investment planning tools for developing Investment Policy Statements (IPS). 
  • IPS AdvisorPro® Celebrates 5th Anniversary
    ~ 5 year milestone marks rapid growth of innovative technology platform and industry adoption of Investment Policy Statements as the key tool to manage client relationships Please click here to read more.
  • IPS AdvisorPro® Exhibited at Recent ABA Conference: Co-Founder Linda Lubitz Boone Commented on Increase in Wealth Mgmt. Opportunities for Bankers
    March 15, 2010 Banks In Wealth Management - Is Now The Time? Charles Paikert Charles Paikert Editor in New York - Family Wealth Report   The proverbial window of opportunity for bankers who want to be in the wealth management business has never been wider. And bankers can’t say they haven’t been alerted: the seize-the-moment theme was repeated throughout last week’s American Bankers Association’s annual Wealth Management and Trust Conference in Phoenix, both from the podium and on the exhibit floor. In fact, the conference began with the keynote speaker exhorting bankers to “switch to offense this year.” 
  • ASN Summit Successful-Norm & Linda Boone, session hosts
    The Advisor Solutions Network (ASN) held its first Practice Management Summit in November in Atlanta, Georgia.  Sixty participants were treated to a world-class line-up of speakers who delivered two full days of thought-provoking content. The program agenda was designed to achieve three key objectives:    Help render appropriate advice in a ...
  • VSR Financial Services, Inc. Selects IPS AdvisorPro® for Investment Planning Technology
    ~ Innovative Platform Will Provide VSR’s 200+ Advisors with Web-based Tools for Creating Investment Policy Statements Miami, FL and Overland Park, KS – August 26, 2009. VSR Financial Services, Inc. announced today the selection of IPS AdvisorPro® to provide their over 200 financial advisors with advanced investment planning tools for developing Investment Policy Statements (IPS). 
  • IPS AdvisorPro®: Go online and save time on investment policy statements
    By Davis D. Janowski, technology reporter for InvestmentNews, this article was originally published July 31, 2009 in IN: TECHbits. I got a sneak preview of a white paper from IPS AdvisorPro® that sheds light on the time, costs associated with creating investment policy statements. By one estimate, it can take the typical financial adviser 155 minutes to create an investment policy statement from scratch using a word-processing program such as Microsoft Word. To refresh your memory, an IPS is a written document agreed to by both an adviser and client that outlines goals, policies and procedures to be used by the adviser for managing investments. Such statements are required these days where a fiduciary relationship exists. The above estimate is by Norm Boone, president of San Francisco-based Mosaic Financial Partners Inc. and co-creator of the popular IPS AdvisorPro® software and online application from BLIPS Partners LLC in Miami. While the white paper is clearly meant to urge advisers to buy the firm's software, the estimates included in the white paper, “Investment Policy Statements: The Technology Return on Investment for Financial Advisors,” seem reasonable and should be of interest to advisers in terms of comparing their current procedures and the time involved in preparation of policy statements. 
  • The Investment Policy Statement: Providing the Bridge Between Compliance and a Satisfied Client
    By Norman M. Boone, MBA, CFP ® and Linda Lubitz Boone, CFP® An investment policy statement helps an advisor communicate to relevant parties the procedures and investment philosophy of that advisor, and it documents the agreements between the advisor and the client about how that client’s money will be managed. The statement should provide the guidelines for investment decisions and set forth the responsibilities of each party. When our first article about investment policy statements was published in the Journal of Financial Planning in July 1992, very few advisors were using these statements in their practices. Today, the landscape has significantly changed: It is now considered a best practice to provide investment policy statements to all clients, whether or not it is legally directed. Although some compliance officers may disagree, we believe that a properly written investment policy statement can be critical in minimizing the legal liability of your fiduciary clients (qualified plan trustees and trustees of irrevocable trusts, endowments, foundations and charitable trusts) and for that matter, all your clients. 
  • Compliance and the IPS
    Issues and Tools in Using IPS AdvisorPro® "If there were only one tool every financial advisor must have to run their business, it would be IPS AdvisorPro™. I feel so strongly about Lubitz and Boone's book and software that I recommend it to every one of our clients without fail. If you want to keep your clients and keep your clients happy, this is the right tool for you." Katherine Vessenes, JD, CFP® President of Vestment Advisors, nationally known authority on investment advisor and broker-dealer compliance issues and author of “Protecting Your Practice” and “Building Your Multimillion Dollar Practice.” Katherine, VestmentAdvisors.com
  • Stay Focused With an Investment Policy Statement
    horsesmouthBy Nicole O. Coulter, Horsesmouth Senior Editor.  Published Aug. 18, 2006. Crafting a governing document helps you and your clients concentrate on long-term objectives. And new technology makes it easier than ever to develop comprehensive and customized investment policies. Imagine a plainly ...
  • Investment Policy Statements Keep Clients Thinking Rationally
    Norm Boone, MBA, CFP® By Norman M. Boone, MBA, CFP.  Published June 1, 2007 © Horsesmouth, LLC An investment policy statement not only tells clients what to expect from you, it helps them make their investment decisions rationally instead of emotionally. And ...
  • Financial Services Institute | AUDIO | Norm Boone and Linda Lubitz Boone
    Wednesday, January 7, 2009 4:00pm ET / 1:00pm PT In these challenging and unprecedented times in the markets, many investors have a tendency to become nervous and raise questions about their portfolios and the health of their investments, creating additional needs for their financial advisor to address. Join us for an engaging ...
  • WINNER, The Best Technology of 2006 by Joel Bruckenstein, Morningstar’s Technology Editor
    IPS AdvisorPro"Software Product of the Year" Joel Bruckenstein, Morningstar’s Technology Editor - There are two software products worthy of honors this year, and as it turns out, both of them are new, so both qualify for Software Product of the Year and Rookie of the Year honors. After careful consideration, I decided to award Software of the Year to IPS AdvisorPro. This Web-based application, developed by Norm Boone and Linda Lubitz, two highly gifted financial planning professionals,fill a real need for many financial-services firms: It helps them create highly professional, compliant investment policy statements (IPS).
  • Making the Investment Policy Statement Part of Your Investment Process
    Norm Boone, MBA, CFP® By Norm Boone, Published by Legent Clearing 2007. More and more advisors who manage money for their clients are discovering the value and the importance of using an Investment Policy Statement as a key part of their investment process. They arc finding that clients appreciate the opportunity to better understand what to expect from their advisor. That clarity helps to build a much higher level of trust and respect which can, in turn, lead to growing accounts and more referrals. An Investment Policy Statement ("IPS") is a written document that provides a record of the agreements reached between the client and the advisor with regards to the policies and procedures to be followed by the advisor in managing the client's money. Such a document is legally required for all ERISA plans and for virtually all trust and institutional clients. Using an IPS with individual clients has so many benefits that it is considered a "best practice" for advisors.
  • Step One to Fiduciary
    This article originally appeared on Inside Information. Used with permission. Inside Information ~ Filed Under Practice Management, February 2007 Bob Veres, Publisher, Inside Information "The definitive tool for creating investment policy statements is back -- and a LOT more powerful than the earlier version." If we're moving into a fiduciary world, then it seems likely that, eventually, clients will receive some kind of investment policy statement from their advisors -- just like qualified plans do, by law, from THEIR advisors today. And why not? The IPS clarifies the purpose of the portfolio, defines how it will be managed, and (most importantly) it becomes something you can come back to if the client starts asking why you weren’t more heavily weighted in emerging markets funds or REITS following some kind of freakish runup. From a compliance standpoint, it creates a clear record of the investment agreement between advisor and client. Wealthier clients like the idea that their assets are being given the same treatment as large pension plans. And if you do decide to manage a client’s 401(k) plan, you need to have an IPS to define the relationship.
  • A Software Solution to Investment Policy Statements
    This article originally appeared on MorningstarAdvisor.com. Used with permission. Joel Bruckenstein, CFP It has been a long wait, a very long wait, but IPS AdvisorPro® is finally here. This Web-based application that creates investment policy statements was developed by two prominent, highly gifted financial planning professionals, Norm Boone and Linda Lubitz. Boone is founder and principal of Mosaic Financial Partners in San Francisco. He has been cited by numerous periodicals as one of the best financial planners in the country. Boone has served on the National Board of the Financial Planning Association, the TIAA-CREF Institutional Advisory Board, and the advisory council for Schwab Institutional. His articles have appeared in CCH's Journal of Retirement Planning, Journal of Financial Planning, and Wealth Manager.
  • On the Same Page
    By Ingrid Case, First published January 1, 2009. Investment policy statements (IPSs), viewed as protective by some advisors and potentially hazardous by others, are getting more attention in this transformed market. An IPS is a document that explicitly outlines the goals and philosophy of investing for a given client, setting general preferences. Users regard IPSs as an effective tool for keeping planners and clients on the same page, guiding the planner's efforts and keeping the client's expectations reasonable and realistic. Now that the markets are in turmoil, there's more focus on the rationale underlying IPSs. Many planners use IPSs with certain of their clients, particularly institutional, high-net-worth or highly argumentative clients. Few, however, use IPSs with the majority of their clients, especially when times are good.
  • Getting Comfortable With Change
    Norm Boone, MBA, CFP® As an active proponent of investment policy statements, I have frequent opportunities to speak with advisors about the how and why of using this tool in their practice. While most recognize an IPS's potential benefits, one question is often raised. "Wouldn't it be risky to start using IPSs? My clients would wonder why, all of a sudden, I'm using this tool when I'd never mentioned it before. They might question my motivation and lose confidence in me." It's true that change is often challenging for clients. But the fact is that change is constant. In our business, the market fluctuates and there are constant changes in the client's situation. We also have internal changes in our firms that must be communicated to clients. Still, far too many advisors use their clients as an excuse for not making needed changes. Here are some communication tips for introducing change to your clients:
  • Put It in Writing – Practice Management
    By Norman Boone and Linda Lubitz Boone.  First published November 1, 2008. A PDF version of this article can be downloaded here (1 mb). Bank advisors have lots of reasons to avoid writing investment policy statements (IPS). They'll say: "It takes too much time to go over all the issues with my client and then write an IPS, and get my client to read and approve it." "Clients expect me to start managing their money right away, so it doesn't make sense for me to delay just to write an IPS." "I'm afraid that by writing an IPS, I'm just giving my client the tools with which to sue me. In fact, my attorney tells me not to put anything in writing if I can avoid it." "My broker-dealer doesn't allow me to write an IPS." "I like the idea of an IPS, but I'm not sure how to explain the process to my clients or what should go into it." This article will address these concerns with an eye toward helping you successfully adopt IPSs as part of what is increasingly considered a "best practice" in the investment world. In these frightening markets it might be particularly helpful to have such a document to refer to. 

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