Morningstar is offering a free mobile application for evaluating mutual funds that runs on Android smartphones. Dreyfus is giving iPads to every one of its 70 salespeople, across three divisions, to help market mutual funds. R.R. Donnelley submitted the first mutual fund filing, for Russell Investments, that works live on the Web through the eXtensible Business Reporting Language. And, oh, yeah, the first phase of the new Internal Revenue Service regulations on cost-basis reporting went into effect Saturday.
Welcome to 2011, the year when mutual fund and other financial services firms are expected to increase their spending on digital applications, devices and infrastructure. For many firms, this will be the first time since 2007 that spending will grow.