Products December 15, 2010

linkedFA Announces Upgrades

linkedFA, a social networking/media site that enables financial advisers to be active on the Internet and stick to compliance guidelines, has made upgrades to its Web site.
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linkedFA announced updates to the site that was launched over the summer, (see “linkedFA Links Up with LiveOffice for Social Media Compliance Solution”) following feedback from its 5,000+ active users, the company announced.  The Web site says it is the first social networking site that allows financial professionals to communicate with investors and peers in a fully compliant and secure environment.

The new features include:

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  • A public directory search function providing access to over 1.4 million licensed financial professionals
  • A simplified one-page feed interface that allows advisers to view and post to all major social media accounts simultaneously, including LinkedIn, Twitter, and Facebook. By disseminating all social media activity through linkedFA, the site’s unique compliance feature is applied to third party sites and ensures compliance with industry rules and regulations as per FINRA Regulatory Notice 10-06.
  • A “People You May Know” feature introduces peers and professionals of interest to members based on geography, company, network connections and more.
  • A public post feature that allows users to share updates with the entire linkedFA membership beyond the individual user’s network.
  • Public discussion forums enabling linkedFA members to post topics of interest for comment throughout the entire linkedFA community.

linkedFA Founder and CEO, Jason Bishara says: “Social media in the financial industry is still very new and rapidly evolving. The debate around how to utilize social networking to increase business is in constant flux. Our growth strategy, since launching a year ago, is to remain at the forefront of financial social media’s evolution while actively utilizing feedback from members to continually improve their experience.”

Products December 15, 2010

Mid Atlantic Trust Company Announces IRA Solution

Mid Atlantic Trust Company (MATC) teamed up with Inspira to create an IRA capture solution that enables clients to enter the automatic and voluntary rollover business quickly.
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With Total IRA Plus, plan participants looking to roll over retirement accounts have a choice of screened investment options, and are also given asset allocation tools to help them choose the portfolio that best suits their needs. Participants that are automatically rolled into Total IRA Plus are encouraged to diversify their investments beyond the initial Safe Harbor investment, according to a press release.   

New IRA account-holders also have 24/7 access to account information via the internet and a toll-free number, as well as access to skilled IRA customer service representatives seven days a week.  

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“Many of our qualified plan recordkeepers understand that the IRA plays a major role in retirement savings and that they are constantly losing accounts and revenue from qualified plans to IRA rollovers. However, many of those clients are not in a position where they can offer a compliant solution that doesn’t involve essentially transferring assets to a competitor,” said Tim Friday, Group CEO of Mid Atlantic Capital Group and officer of MATC. “With this solution, recordkeepers get paid each year for every IRA account maintained by Mid Atlantic and Inspira, two entities that do not compete with them, but simply provide outsourced services which help their clientele attract, grow, and maintain assets.”

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