Batman, whose company has a division that advises financial planners on Internet issues and that develops Web sites for them, says Internet use in financial planning is still in its infancy stage. However, he says financial planners can take advantage of the Internet more. For example, they can post clients' accounts daily, since password technology has made this option secure. But as Web offerings become more sophisticated, that will change, Batman maintains. Batman doesn't think having one right now is critical, but does think that financial planners who don't have a Web presence within the next few years will be viewed as technologically backward.
Batman suggests providing new content as frequently as possible, even daily.
Still, Batman says the ability of financial planners to use the Internet pales in importance to their ability to understand human psychology. Financial planners must comprehend their clients' fears about taking financial risks. CPAs, Batman contends, are already good technical professionals who can find the right solution to specific financial problems. But as financial planners, accountants must not only react to clients' needs, they must persuade clients to take financial action. The Internet can't do that.