A new social networking site for financial advisory professionals that claims to conform to industry regulatory requirements adopted by the Financial Industry Regulatory Authority has just been launched.

The new site, linkedFA, provides free membership to advisors and is open to registered investment advisors, registered representatives, insurance advisors, certified public accountants, other financial advisory professionals and their clients. The launch comes amid a debate over how advisors can use social networking to expand their businesses, while still following compliance rules under the Securities and Exchange Act of 1934.

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