Author: Anu Heda

A StarTAC revival for the ultra-connected set…

Posted by Anu Heda on Sep 27, 2011, in Thoughts , tagged with

Do you remember the great cellular phone of 1996 – the Motorola StarTAC?  I remember the easy user interface and durability (flights of subway stairs were no match for the StarTAC).

Anyhow, during a massive flight delay, I got to chatting with two seasoned sales people from the enterprise software industry.  Each had a laptop, iPad, & BlackBerry.  And as they bestowed knowledge upon me, I got to ask them how they use the different devices (note: all devices provided by their employer), what they like/dislike about the tools, and how the tools changed sales.  Significant opinions and knowledge provided!

Afterwards, it became clear to me that with the ubiquitous (albeit slow) Verizon iPad, they had relegated the BlackBerry to be, well, just a phone.  They didn’t like the tiny screen and the massive scrolling to look through all their emails.  And both commented on the lightness of the iPad – they proclaimed to take it everywhere.

So perhaps the next evolutionary step is to make the tablet more robust and the phone less so.  Perhaps Motorola can revive the StarTAC for the ultra-connected employee.

Best Blogs of the Week

Posted by Anu Heda on Sep 26, 2011, in Best Blogs of the Week , tagged with , ,

For the first time, we didn’t find three blogs to present.  We did read two posts that presented important insights.  Insights an FA could pick-up and use immediately.

Virtus – Joe Terranova presents a rational case for his current concerns in US equities.  It’s digestible and probably worth consideration as skittish investors continue to press their FAs for ways to understand if the market will swing upwards.

BlackRock – We are proponents of the dueling opinions format.  Matt Tucker and Russ Koesterich sound off on the Federal Reserves “twist” strategy.  It’s succinct, compelling and shows BlackRock isn’t afraid to showcase different opinions.

Discussing Mobile … soon

Posted by Anu Heda on Sep 22, 2011, in Thoughts , tagged with , ,

Next month, we’ll be presenting at the MFEA eCommerce conference in Chicago.  It’s a privilege and we’re looking forward to the event overall.

We’ve been reaching out to our e-Business network in order to understand if there are common struggles.  From those conversations, two topics we’ll definitely cover include:

  • Mobile sites versus apps for devices
  • Just product information? product PLUS thought leadership? Maybe something else?

Interestingly, there’s not much concern on building for Android.  Many firms with (or pending) iPad/iPhone apps plan on migrating to Android in quick fashion.   Seems like firms are starting with the Apple platform and then adding Google afterwards.

Mike will make this an engaging 45 minutes.  If you’re on the fence about attending, let us know and perhaps a cocktail or beer with Mike could sway you to make the one-day trip.

Best Blogs of the Week

Posted by Anu Heda on Sep 19, 2011, in Best Blogs of the Week , tagged with , ,

This week we saw a lot of blogs, but primarily focused on very current events.  While those can be interesting, they can also be so specific as to become stale in two days.  Here we have three interesting premises, in three different blogs.

  1. Vanguard – This post provides a clear relation (and line of thinking) between the large sell-off last month and retirement.
  2. Russell – Great post on what advisors think retirees want and what retirees actually want.
  3. Wells Fargo – The always enjoyable Dr. Jacobsen uses this post to share his opinion on a US version of a value-added sales tax.

Impact of Confirmation Bias

Posted by Anu Heda on Sep 14, 2011, in Thoughts , tagged with

Over the last month or so, I’ve been thinking a lot about confirmation bias.  I’m not sure exactly why, it may be from following the debt crisis too closely.

I’m not thinking about bias in a statistical sense.  More in how we attain, review, digest, & seek information.  A prototypical example of this seems to be:

Person believes that reducing government is a good idea.  He regularly seeks out the Wall Street Journal.  He enjoys reading the columnists.  Those columnists often cite the Cato Institute.  Over time, he develops a strong, positive opinion of the Cato Institute.  Next time he needs/wants economic data, he visits the Cato Web site.

Understanding all of us have a confirmation bias may lead to better marketing and selling.  If a wholesaler goes into a meeting (or begins a telephone call) with questions to understand the advisor’s decision-making process, then he may glean a bit into their confirmation bias.

Imagine an introductory question like, “Historically, how have you decided to add a new fund into your most commonly used fund lineup?”  If the advisor answers with performance and attribution analysis preferred from select third-party providers, then the sales team can lead with a detailed performance review, provided by that third-party provider (or something similar).  If the advisor answers with process and portfolio manager interest, than leading with investment decision-making information and PM team tenure is a better lead.

Understanding confirmation bias is just one tool to improving sales and account management.