To Mac or not to Mac?

Thanks to the incredible popularity of Apple Inc.’s iPad, an increasing number of financial advisers have been asking me if it is possible to run their businesses on Apple computers instead of those designed only for Microsoft Windows.

The answer is yes, with a catch or two.

“You can run your business on Macs,” said Michael P. Loftus, managing director of Loftus Wealth Strategies. “I laugh when so many adviser friends complain about [Microsoft] Windows and their [systems’] crashing.”

Stability and safety — plus the added indefinable of coolness — make Apple hardware appealing.

LESS CRASHING, HACKING

Because Apple has always had much more control over the manufacture of its hardware and is able to optimize it for Apple’s operating system, the systems crash much less frequently. Apple Inc., of course, is the only company that sells Mac computers, whereas many companies sell PCs that run Microsoft Windows.

There also is far less malware written for Mac computers. The vast majority of viruses, hacks and other bugs are written to target computers that run some flavor of Microsoft Windows.

Because Microsoft Office and other bread-and-butter PC software, including QuickBooks Pro for bookkeeping, are available in Mac versions, Mr. Loftus does much of his everyday work in Word and Excel on his Mac. Using Apple’s Safari browser, he accesses other software on the web, including his RedTail customer relationship management application, PreciseFP for client data input and MoneyGuide Pro for financial planning.

Thomas Herbert — a founder and managing partner of Retirement Resources Wealth Management LP, an independent fee-only registered investment advisory firm — also runs his business on Macs.

“We worked with our custodian and trading service, TradePMR, and made sure they updated their website to work on Firefox for Mac,” he said, adding that he, too, takes care of bookkeeping with QuickBooks Pro for Mac.

Dylan Ross, owner of Swan Financial Planning LLC and a longtime Apple user, is also a longtime fan.

“I’m still 100% Mac [including iPad], no Windows apps at all,” he wrote in an e-mail, adding: “Macs lend themselves very well to running an advisory practice for those that embrace a [keep it supersimple] philosophy when it comes to personal finance.”

But before every adviser dumps his or her network of Microsoft Windows computers in favor of Macs, let me splash a few drops of cold water on the Apple parade.

Let’s go back to Mr. Loftus for a moment.

True, he relies on a lot of software made for Mac computers running the Mac OS X operating system (the “X” referring to the Roman numeral, not the letter; the current version, 10.6, is known as Snow Leopard). For others, Mr. Loftus connects to online applications using Safari.

But he doesn’t have the capability to be Apple-exclusive. Mr. Loftus relies on VMware Fusion (from VMware Inc.), a program that allows a user to run multiple operating systems on one physical computer.

Why?

Specifically, Mr. Loftus needs Fusion to run a version of the Microsoft Windows operating system on his Macintosh PC so that he can access NetExchange Pro from Pershing LLC and Advisor Workstation from Morningstar Inc. — both of which require version 6.0 or later of Microsoft Internet Explorer.

He uses netXpro and Advisor Workstation to take care of his clients’ portfolio management, account maintenance and trading needs. Mr. Loftus started using them before he decided to make a switch to Macs.

And therein is the rub.

Almost every adviser out there, unless they have a small firm and very simple needs, as is the case with Mr. Ross, will have at least a few applications that still require a PC running Microsoft Windows or that require the Microsoft version of Internet Explorer.

Although being forced to run virtualization software such as VMware Fusion on your Mac PC might seem inconvenient, the truth is that it is fairly easy to do.

In addition to VMware, other popular virtualization software choices include Parallels Desktop 6 for Mac (from Parallels Holdings Ltd.) and VirtualBox (a free open-source program available from Oracle Corp.).

There is also a utility, Boot Camp, that is built into every new Mac computer which allows you to install Windows XP or Windows Vista on your Mac.

The only caveat is that you can’t run both operating systems at the same time in the way you can with the virtualization software. With Boot Camp, you must decide when you start the computer which way you want to operate for that session.

To summarize, if you are a longtime Windows PC user and are interested in a Mac, first consider how dependent you are on the Microsoft-only applications that you use at the core of your practice. A quick perusal of those applications’ websites or a call to them will let you know if they make a version of their software available for Macs or whether their web services support Safari or Firefox for Mac.

Even if they don’t and you are still gung ho to proceed, using virtualization software will get you where you need to be with only a modicum of inconvenience.

Be mindful that although in this last scenario you will be running the operating system “virtually,” you will still have to purchase a license for and install some version of Microsoft Windows on your Mac, and keep it updated and patched.

One last clarification for those new to the Apple realm: The Apple iPad isn’t a Mac and doesn’t run OS X. It runs Apple’s mobile operating system, iOS, which also runs the iPhone and iPod Touch.

Although iOS was derived from OS X, it is distinct and separate software and doesn’t allow you to run applications meant for Mac PCs.

TECH UNDER THE TREE

For those who frequently work out of the office on a laptop, 3M Co. has released a new version of its popular line of privacy filters.

The 3M Gold Privacy Filter comes in 10 sizes from 8.9 inches up to 17 inches for laptops (there is also a 19-inch version for widescreen LCD desktop displays). Although pricey — ranging from $50 to $100 at retail, depending on size — the filters will keep whatever is on your screen from being seen by anyone near you.

That means that your clients’ personal information will be safe from prying eyes on cramped planes and at Starbucks (unless a fellow caffeine addict is breathing caramel macchiato fumes down your neck and peeking around your ear at your screen.)

From pretty much any side angle, the 3M products are classy, reminding me of the sun visors worn by the Apollo astronauts. Visit 3mprivacyisgold.com online for more information and a list of retailers.

E-mail Davis D. Janowski at [email protected].

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