National Planning Holdings, Inc., one of the nation’s larger independent broker-dealer networks, announced this week it has contracted with business technology firm Erado to supply its more than 3,500 affiliated representatives with compliance services for social media applications.

Many financial advisors are using social media and networking sites such as LinkedIn, Facebook and Twitter to help communicate with clients and market their services. But balancing the benefits of these easy-to-use forums for instantaneous interaction with regulatory agencies' requirements that firms and advisors be able to save and recover all communications with clients has proved to be a daunting challenge.

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