Managing Clients with Trello

Keeping it Simple

Trello is a project management tool for collaborative team projects. It’s 100% cloud-based and simple to use given its virtual whiteboard and sticky notes structure. It’s also very popular with many small and medium size companies that need to manage projects across geographically-diverse teams.

At Koch Capital we use Trello for client task management, an integral part of a larger Customer Relationship Management (CRM) ecosystem that most financial advisors implement for their firms. This blog post will walk you through how Koch Capital implements Trello in our advisory practice and why the more flexible platform software approach (PaaS) versus the traditional industry-specific software approach could make sense for your environment.

Keeping it Visual

Trello is a very visual task management tool allowing users to add and tailor images across their virtual whiteboard(s). Each board is comprised of user-defined lists and each list contains specific tasks cards. For example, each Koch Capital client starts with the standard board-list-card Trello template below:

Source: Koch Capital

As part of our client on-boarding process, we tailor the Trello Task Manager (our name) template to suit the new client’s specific needs as well as train them on how to access and navigate their Task Manager from their browser and mobile device of choice.

Trello’s default task management workflow is based on a three phase model. New task cards are created and saved to the “To Do” list (leftmost column above), then are virtually lifted and dropped into the “Doing” list to be executed by Koch Capital and/or the specific client. When the task is completed, it’s card is again virtually moved from the “Doing” list to the “Completed” list for archival.

All cards and lists are searchable making present and past task specifics easy to find and review. We also use the list subscription feature extensively which allows clients to get email updates on specific tasks as their cards are moved into and out of the “Doing” list. This is a great non-disruptive way to keep your clients informed on their account activities.

Keeping it Real

Over the past three years the Trello platform has become a key client task management resource for Koch Capital as well as an integral part of our larger CRM and operational infrastructure. By avoiding advisor-specific solutions and using more open, non-industry specific software, we have developed our own unique client service platform that helps us better serve our clients and run our Registered Investment Advisory (RIA) practice efficiently.

For example, we use the Trello platform below, along with Box.com for secure, online file storage and Google Apps for spreadsheet and publishing activies, to support our robust yet adaptable cloud-based work environment.

Source: Koch Capital

Internally, Koch Capital maintains a private Client & Partner Tracking board which utilizes lists for clients, prospects, partners (vendors), blog posts & newsletters, and continuing education. Our Client list links back to the individual client Task Manager boards for quick access. We also maintain a second, private Managed Accounts Platform board to manage the investment strategies, portfolio analytics and economic data that Koch Capital tracks on behalf of our clients and their portfolios.

If you are interested in learning more about using Trello in a professional services environment, you are welcome to call me (925-526-5624) or email me at jim@kochcapital.com. For more information on how to secure this type of cloud-based platform, please review this blog post if interested.

Thank you for your time and interest…..Jim

P.S. I’m not a fan of Adele!

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other advisers so they are better able to achieve their financial planning goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions. Nothing presented herein is or is intended to constitute advice to use or buy any of third-party applications presented here, and no purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness.

Useful Office Tools in Small Packages

The Small Footprint Workstation

In my earlier Treadmill Walking Desk post, I mentioned that I had replaced my wife’s (Jennifer) old tower-style workstation with a small footprint model. For convenience she wanted a PC that could sit on top of her desktop, as opposed to mounted underneath, without taking up too much of her limited desktop real estate. The Dell Optiplex 9020 Micro (see image below) filled the bill nicely by providing workstation like power in a compact 7x7x1.5 inch box.

Source:Dell Computer

Given Jennifer’s specific office configuration needs, we focused on two of the 9020 Micro special features. First, the 9020 Micro includes two DisplayPort ports and a solid graphics card to drive my wife’s dual 27” monitors. Second, it comes with built-in wireless and wired connectivity (see Dell’s specification sheet for details) to help reduce Internet down time. We also appreciated the 9020 Micro’s use of standard laptop components which makes part substitution easier as you will see shortly.

The Big Three Computer Modifications

First, I replaced the stock 500GB SATA hard drive with this Samsung 850 PRO 1TB SSD (solid state) hard drive. The overall operational speed improvement, especially on boot up, was worth the extra cost. In addition, Jennifer needed plenty of disk space for her work-related video library.

The stock 500GB SATA hard drive did not go to waste, it simply was added to our spare hard drive collection used to power our household’s Drobo file backup unit. You’ll also need SATA to USB adaptable cable (StarTech adapter cable) to clone your factory default SATA drive to your replacement SSD drive.

Next, I bought a Velocity Micro’s VMultra external, USB-powered DVD drive to plug into the 9020 Micro unit. It’s a nice little portable DVD player at a reasonable price.

Finally, I purchased an Anker USB 13-port powered hub for all the other office extras -- printers, scanners, headphones, speakers, etc. -- that require USB 3 or USB 2 connections. I mounted the  Anker hub on the backside of Jennifer’s treadmill desktop using Velcro tape (see photo below).

Source: Koch Capital

Is Hardware Customization Worth the Effort?

So what did all this hardware customization provide beside a chance for me to show off my inner dweeb? Well, Jennifer is an Internet/ Windows power user beyond compare. At any given time, she’ll have 20 browser tabs open across multiple browser instances all accessing the Internet. She’ll have 4 to 8 Windows programs running concurrently in the background accessing locally stored data. She can’t afford slow power-up or slow application response time or being limited to a small number of concurrent applications. FYI, the 16GB of memory RAM doesn’t hurt either.    

Between the customized desktop on Jennifer’s treadmill walking desk and her customized computer configuration, Jennifer and I invested significant time and extra dollars to build a work environment that fits her unique office operational needs. Any technology-induced slowdown in her otherwise efficient daily workflow goes straight to her firm’s bottom line. Jennifer is now free to focus on her business whether sitting, standing or walking, and not worry about her office environment holding her back.

Source: Koch Capital

The customized office environment is a great example of a time asset in action. Yes, it takes discipline and dollars to get pass the “commitment period” to make your custom office environment a reality, but the payback can be huge in both profitability as well as well-being, given the additional health benefits of the treadmill walking desk.

In closing, utilize a smart work environment that fits your personal working style, otherwise you’ll just be unhappy and unproductive day in and day out. And don’t be afraid of technology tweaking when it makes sense for your specific office environment needs…..Jim

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other advisers so they are better able to achieve their financial planning goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions. Nothing presented herein is or is intended to constitute advice to use or buy any of third-party applications presented here, and no purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness

The Treadmill Walking Desk

Take Care of Your Clients By Taking Care of Yourself

As a financial advisor, I spend a lot time sitting at my desk staring at my computer screens. Like many other professionals, the sedentary nature of the modern work day is not healthy for us bipedal hominids whose physiology has been shaped by 8 million years of on-the-move evolution.

The documented health benefits of walking and standing more throughout the day include reducing the chance of cardiovascular disease, obesity and joint pain. Now it’s more practical than ever to achieve these health benefits in the work environment. Welcome to the treadmill walking desk.

Source: Koch Capital

A Better Work Environment 
This is a picture of my wife’s (Jennifer Winn) treadmill desk configuration. She’s a busy executive consultant and coach whose hectic work schedule limits regular work out time. However, Jennifer still stays active on those days she is confined to the office, and has graciously provided this 2 minute video of her customized treadmill desk in action.

Click here to watch the video

Source: Koch Capital

Treadmill Desktop Adaptations 
Rarely does complex furniture with embedded electronics function perfectly right out of the box, so I’m sharing the two adjustments we made to optimize Jennifer’s work space configuration. Without naming specific treadmill desk providers, the biggest issue we ran into was the limited weight bearing strength of the desktop itself. 

With Jennifer’s dual 27” monitor setup as seen in the video, the original vendor-supplied desktop sagged in the middle almost immediately. So much for the 300lb plus weight support claims by this vendor. We chose to contract out for a custom desk top built with sturdy 1 ¾ inch plywood wrapped in finished laminate. This fixed the sag problem as well as the limited work area since we expanded the overall desktop surface area, length and width, to better fit Jennifer’s working space needs.

Having a custom desk top built really isn’t the big deal you might expect, plus the better working space size was worth the additional cost.  BTW, swapping desktops was straightforward….the hydraulic desk legs will fit a larger desktop size. 

The second modification we made after several months of operation was upgrading her PC to a small footprint unit that could sit right on the desktop itself. More on small footprint computers and accessories later in another blog post. 

The original treadmill desk configuration utilizes a large metal bracket that bolts underneath the desktop to hold a tower-style workstation. While the vendor videos of a PC mounted underneath the desktop going up and down look impressive, in reality it’s awkward for both PC operation and treadmill comfort. In my humble opinion, ditch the undersized stock desktop and oversized hanging PC bracket for a custom configuration that will make your treadmill desk really hum. 

Stay active and healthy…..Jim

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other advisers so they are better able to achieve their financial planning goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions. Nothing presented herein is or is intended to constitute advice to use or buy any of third-party applications presented here, and no purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness.

Best Execution Tester

Classic Time Asset Example

This Google Script-based utility is a classic example of a time asset, a relatively inexpensive, niche software tool that reduces advisor compliance overhead. In my firm, I’ve been using the Best Execution Tester (BET) utility for about a year now, and the savings are both tangible and measurable. Please click here to watch the video.

Click image to play video

Your feedback is always welcome.

Enjoy…….Jim

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent State Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other adivsors so they are better able to achieve their goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Nothing presented herein is or is intended to constitute investment advice or product endorsement, and no investment nor product purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable. Past performance is no guarantee of future results.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness.

Responsive Websites

Simpler, Smarter Design

For many advisors, their websites provide prospects with first impressions and crucial information about their firms and activities. For Koch Capital, our service offering had recently changed and the old website was looking cluttered and tired, so it was time for an upgrade.

From a website technology standpoint, I do not care for WordPress (personal preference) and was looking for something simpler to maintain and easier for prospects to navigate given Koch Capital’s non-traditional Registered Investment Advisor (RIA) business model. Additionally, I wanted a primary landing page that provides current not just static content, and is mobile device friendly. The design solution Koch Capital finally settled on is provided below.         

Source: Koch Capital

Responsive “Content” Design 
The good folks at JVF Consulting were instrumental in transforming my ideas into the tangible building blocks of multiple URL website that fits Koch Capital’s unique business model. The main Koch Capital landing page uses HTML5 and JVF’s dynamic framework to re-size the viewing area for just about any Internet-enabled device. Internally, we only need to worry about the topic-specific blogs courtesy of Google’s Blogger application. We also use those topic-specific blogs to deliver service-specific information like a website. The goal is simply to guide the prospect or client to the most relevant information in the fewest number of clicks.
      

Time Asset Investments 
The two big time savers in this endeavor include (1) the initial collaborative design process and (2) the more efficient ongoing website maintenance. Working with the JVF team over several Google Hangouts sessions facilitated back and forth exchanges in real-time with visuals that resulted quick and efficient design turnaround and implementation. Time asset suggestion number one is to invest a little time to become proficient in a video conferencing tool like Google Hangout, Skype, Join.me, WebEx, etc. The payback is almost immediate and definitely enduring.

Second suggestion is to invest time up front to select a website firm and framework that best fits your firm’s website needs. In my case, outsourcing the intricacies of HTML5 to the pros while maintaining service-specific content control using a simple blogging platform will save me significant future labor hours while keeping my content fresh.

Please feel free to contact me via email or 925-838-2324 if you are interested in discussing further my design considerations and trade-offs, or contact Jason Franco of JVF Consulting at 925-224-9986 for more information on the underlying technology.

Thank you for your consideration and feedback…..Jim

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other advisers so they are better able to achieve their financial planning goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions. Nothing presented herein is or is intended to constitute advice to use or buy any of third-party applications presented here, and no purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness

Securing Client Data in the Cloud

Where Does My Stuff Live?

Clients often asked us to explain how Koch Capital keeps their personal data secure and private given our firm touts itself as an efficient, “paperless” operation, meaning we store all client data digitally on third-party servers and access that data over the Internet. Hence, the genesis of the diagram below is to help explain what type of client data is stored with various web-based applications. Please note that we have updated our technology stack from a year ago with our in-house developed Balance Sheet planning application and several new third-party financial software application programming interfaces (APIs).

Source: Koch Capital

Our most secure level (Level One) of online document storage is Box.com. This is the one place where sensitive client data including social security numbers on forms, account numbers via brokerage statements, driver’s license number on legal documents, etc. are stored online in the client’s private directory.  Given its data encryption and detailed audit capabilities, the Box.com Enterprise solution is a robust, secure file management system used by companies of all sizes. You always know who is accessing what and when.

The next security level down is what Koch Capital calls Level Two, which contains personal information that may or may not already be in the public domain. Many financial software applications operate at this level providing Hypertext Transfer Protocol Secure (HTTPS) browser access to their respective software applications and require various levels of login with password security. The trick here, in our opinion, is to never save personal data that if compromised would hurt the privacy of your client.

Hence, we never save social security numbers, for example, in these applications and make sure to keep any brokerage account numbers to just the last three digits;  no full account numbers are stored at this level other than with the custodians. Most financial applications need basic client profile information like gender, age (birthday), state of residence, to perform their functions. But you can still be careful to exclude sensitive items that most likely would harm the client’s identity if compromised.

In the Public Eye

While company websites, blogs, email and social media are great new media inventions, there’s no reason to post any client data on these applications unless the client requests it for some specific reason. Treat email and phone like a public conservation that is being archived somewhere, so don’t get too personal with the content. One of our recommended best practices is to never attach or embed a sensitive document in an email to a client. Instead, only send secure links to the documents stored in the client’s private Box.com directory. With the rapid increase in mobile communication usage and in screen-share collaboration technology adoption, don’t get too comfortable providing select client data on the fly just because it is expedient. Have an access plan and modify/redact if you need to before you send. Cloud computing is the future as long as you “stay frosty” to intrusion from the bad guys.

About Jim Koch

Jim Koch is the Founder and Principal of Koch Capital Management, an independent Registered Investment Advisor (RIA) in the San Francisco Bay Area. He specializes in providing customized financial solutions to individuals, families, trusts, business entities and other advisers so they are better able to achieve their financial planning goals. Jim sees himself as an “implementer” of financial innovation, using state-of-the-art technology to provide practical investment management and retirement planning solutions for clients.

General Disclosures

This information is provided for informational/educational purposes only. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions. Nothing presented herein is or is intended to constitute advice to use or buy any of third-party applications presented here, and no purchase decision should be made based on any information provided herein. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Third Party Information

While Koch Capital has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, timeliness, or completeness of third party information presented herein. Any third party trademarks appearing herein are the property of their respective owners. At certain places on this website, live 'links' to other Internet addresses can be accessed. Koch Capital does not endorse, approve, certify, or control the content of such websites, and does not guarantee or assume responsibility for the accuracy or completeness of information located on such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided for convenience and informational purposes. Use of any information obtained from such addresses is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness.