The Money Management Institute has named its new chairman, chair elect and six new board members.

Jim Tracy, director of Morgan Stanley Smith Barney's consulting group, will take the reins as MMI's new chairman, replacing chairman emeritus Chuck Widger. Jim Seuffert, CEO of Pershing Managed Account Solutions, was named chair elect.

MMI also announced the following new board members: Marilee Ferone, UBS; Patricia Loepker, Wells Fargo Advisors; Lorna Sabbia, Bank of America Merrill Lynch; Bill Broderick, Edward Jones; Ed Blodgett, Brandes; and Jed Laskowitz, JP Morgan.

"These new governors bring vast experience and unique viewpoints to our existing board," Tracy said. "Each of these firms represented is a leader in its market segment and MMI will benefit from the expanded perspective. As we continue to address the needs of financial advisors and investors, we will draw upon the collective knowledge of our board."

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