If Apple Computer has its way, advisors and their clients are going to have a new style of working together. It will involve a great deal of tapping, rolling and drumming of fingers on an iPad, the sleek, keyboard-free, tablet computer that invites users to access information and eye-popping visuals with a swift touch of a 9.7 inch screen.

Certainly, a number of platform providers and web-based portals that target advisors seem to be helping Apple achieve this goal. They are either working on iPad-compatible applications or have launched platforms designed to facilitate business-specific and secure use. They include Finantix, in partnership with NorthStar; InfoHedge Technologies; Junxure Software; Pershing, a BNY Mellon firm and developer of the NetX360 platform; Pyxis Mobile; SunGard, creator of the Wealth Station platform; and TD Ameritrade, producer of the Veo platform.

For those who may not be Apple fans, or whose current platform of choice may not be iPad-compatible, other computer vendors say that they, too, will enter the tablet fray in the months ahead-or they are widely rumored to be doing so. Firms in this category include Cisco, Dell (with its Streak tablet) and Hewlett-Packard. Google's Android system will power the Cisco tablet due next year. Research in Motion's rumored business-oriented tablet would be compatible with the BlackBerry system.

Microsoft has said that it is looking into improving the quality of tablet devices that run Microsoft's Windows 7 operating system, and Motorola and Verizon have teamed up to launch a digital tablet. But although a fair number of advisors and their technology consultants have been impressed by the sleekness and usability of Apple's tablet technology-Apple sold three million iPads in the 80 days following the tablet's January launch-they also note that we remain in early adoption days. Thus, there are specific business pros and cons to iPad usage that financial advisors should keep in mind.

TAKE A TABLET?

On the pro side, some early users are definitely wowed. "From a personal use perspective, it's an amazing device that provides clear imagery, is easy to read, easy to use and comes with a variety of useful tools relating to stock quotes and news aggregation. I like the USA Today application and now regularly read the Wall Street Journal on the iPad," says Ronald Myers, an advisor with Associated Investor Services in Fort Lauderdale, Fla.

"There is clearly a Star Trek cool factor about iPads," says Benjamin Muchler, vice president and portfolio manager at Boston Research and Management, an independent financial advisory firm in Manchester, Mass. "While we have never used laptops in client meetings-they can quickly become an awkward obstruction-we will now use the iPad. Instead of going to a meeting with a pile of paperwork, we can have everything at our disposal for a conversation with a client," Muchler continues.

"The iPad, which is visually vibrant, provides a streamlined approach to client meetings held outside the office," adds James Van Metter of James Van Metter & Associates in Bronxville, N.Y. "No more printing out agendas and portfolio performance reports."

The iPad's visual power-its screen has 132 pixels per inch-and the ease with which it can be viewed collaboratively and flipped to show different perspectives makes it a useful tool on the road, meeting with clients in their homes or talking one-on-one with a client at the advisor's office. "The iPad has its limits and doesn't replace a computer," Muchler says. "But it is an effective tool that can help accomplish some tasks during a client meeting-for example, a portfolio stress test, a change in a big financial plan or a rebalancing of a 401(k)-that might otherwise require yet another meeting or follow-up contact."

Alessandro Tonchia, founder of Finantix, a firm that is developing a full range of iPad applications for advisors for third-quarter release, says the iPad is easier to view than other mobile devices. More important, "advisors can share the device when they meet with clients, as opposed to the confrontational situation that can occur when advisors are sitting behind laptops," he says.

Not all advisors are iPad enthusiasts. Greg Friedman, founder of Private Ocean, a firm in San Rafael, Calif., and founder of Junxure Software for wealth advisors, says the iPad, "is not going to have an earth-shattering effect on my business and doesn't fill any huge gap that exists in the planning world."

While Friedman acknowledges that it can be a useful tool for advisors who visit clients, he says that many of his clients prefer to come to his office. "Our conference rooms are very techie, with 35- to 40-inch plasma flat screens," as opposed to an iPad. Other tools help him collaborate with his clients, including screen-sharing software and a private portal that lets clients view customized information and reports via the web. "Of course, if clients have their own iPads, they can also log on and take a look at this stuff," Friedman said.