Practice

Tweets are 'static content' in the eyes of Morgan Stanley Smith Barney, which operates a network of 18,000 financial advisors.

At the start of October, the Investment Company Institute announced it was going global. Or, rather, it announced the creation of ICI Global, a new arm that would as a trade association for global investment funds, their managers and investors.

Getting started in social media is a lot like getting started in investing. It pays to have a plan. If you are like most advisors, you’re probably just getting started. For you less is more. Here are seven broad components to include in your social media plan:

Getting started in social media is a lot like getting started in investing. It pays to have a plan. And, much like investment planning, TJ Gilsenan, the Web Savvy Advisor, says social media planning involves assessing where you are now, determining where you want to go and establishing a plan to get there.

To be well prepared for succession, owners of financial planning practices should make sure employees are able to advance their careers within the firms. Firm owners should also learn how to manage Generation Y workers, because they’re going to be key to keeping practices alive.

Charles River Development has officially launched a new data management platform that will help fund managers integrate reference, issuer, benchmark-index and pricing data into their front- and middle-office applications.

Financial planners have several tools they can use to steer clients away from destructive behavior, said industry experts at a conference in New York on Tuesday.

UBS said the “unauthorized trading incident” that led to a $2.3 billion loss in its third quarter was not “sufficiently investigated” when detected.

Announcing changes that will likely affect wealth managers helping clients with tax planning, the IRS said that many tax benefits for the 2012 tax year will increase due to inflation adjustments. Investors will be able to contribute an additional $500 to their 401(k), for a total of $17,000 for those under 50 and $22,500 for those 50 or older.

The Securities and Exchange Commission is warning financial firms that following the spirit of the law is just as important as the letter of the law.