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March 20, 2012
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News for operations and technology executives in financial services

Special Update on Wealth Management and Technology -- Part I
Welcome to the SIFMA Operations and Technology SmartBrief Special Update on Wealth Management and Technology.

The more plentiful information becomes, the more difficult it is to find and use what's important. Not having the right information at the right time can exact a heavy toll on any firm -- in missed opportunities or wrong turns. In this report, we focus on the differing needs of financial professionals and the types of information they must have to compete effectively every day in an increasingly turbulent global marketplace.

Today, we look at the emerging technology trends and share expert views on how social media can be utilized best by wealth management professionals.

Part II of this Special Update, which will be published Thursday, will focus on data management -- including cybersecurity -- and provide an update on policy news affecting wealth management.
  Technology Today 
  • Meeting higher fiduciary standards calls for better technology
    The debate about adoption of an industrywide fiduciary standard so far has overlooked the contribution technology can make toward helping advisers do a better job of acting in their clients' best interests. Broker-dealers will need improved wealth-management technology to make the transition, according to a study by the financial-services unit of Citi. (3/15) LinkedInFacebookTwitterEmail this Story
  • Firms face 4 major forces affecting management of IT
    Financial services firms are confronted with global market uncertainty as well as regulatory changes, but they also face an ever changing landscape in terms of technology. The traditional models for managing technology and related economics have morphed since the global financial crisis began several years ago. Firms must deal with four major forces, including an increased demand for technology and more pressure to ramp up IT spending. Wall Street & Technology (3/9) LinkedInFacebookTwitterEmail this Story
  • Adding intelligence is the next step in transaction processing
    It is time for financial firms to start thinking about the next stage in transaction processing, integrating information from multiple sources, adding intelligence to the process and accomplishing multiple tasks at once, said Patrick Walsh, global head of client technology services at Brown Brothers Harriman. Walsh says the industry needs processing that is "highly intelligent, highly integrated and allows us to innovate." Securities Technology Monitor (3/6) LinkedInFacebookTwitterEmail this Story
  • Software provides a better way to monitor personal trading
    The SEC and FINRA require advisers and many other financial firms to supervise the personal trading of their employees, but manually tracking these trades can become burdensome to the point that it interferes with growing a business. Rules-based personal trading software offers one efficient solution. AdvisorOne (3/11) LinkedInFacebookTwitterEmail this Story
  • Work flows can help firms with IT efficiency, expert says
    Documenting work-flow and office processes in a low-tech way, such as on Post-It notes or a white board, is essential to streamlining operations and increasing profitability, says ActiFi CEO Spenser Segal. "Great technology won't make advisory firms more profitable unless they have a systematic approach," Segal says. InvestmentNews (free registration) (3/5) LinkedInFacebookTwitterEmail this Story
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  Social Media 
  • Social media is useful only if it implements advisers' objectives
    Jim Pierson, head of adviser support for Beacon Hill Financial, said financial advisers should focus on their long-term objectives when they consider how to use social media. "I have not found anybody to tell me that it's actually worth it," he said. "And more and more people are saying it's not worth it." Join industry experts and SIFMA's next installment of its Social Media Seminar series on June 28, 2012, in NYC. Register today. AdvisorOne (2/28) LinkedInFacebookTwitterEmail this Story
  • Financial firms turn to social media compliance software
    Social media compliance and marketing software is becoming popular among wealth management companies with advisers and reps spread out in many locations who make regular use of social media. Principal Financial Group recently signed up for Actiance's Socialite platform, which assists with compliance and helps advisers put social media to work to build their practices. (3/7) LinkedInFacebookTwitterEmail this Story
  • Experts: Advisers should keep a conversational tone in social media
    Even advisers whose firms have approved compliance-ready use of Twitter and other social media platforms may be reluctant to take the plunge, marketing experts say. Advisers should begin social media marketing conversationally, sending prospects and clients links to articles they might enjoy, experts say. Registered Rep. (3/13) LinkedInFacebookTwitterEmail this Story
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  Upcoming Events 
  • Just Announced: Cyrus Amir-Mokri, Assistant Secretary of the U.S. Treasury, to be Key Speaker at SIFMA's Ops Conference
    SIFMA's 39th Annual Operations Conference + Exhibit, May 1-4, will feature Key Speaker Cyrus Amir-Mokri, Assistant Secretary for Financial Institutions, U.S. Department of the Treasury. Joining Mr. Amir-Mokri in a top-notch speakers lineup will be Stephen C. Daffron, Global Head of Operations, Technology and Data, Morgan Stanley; William Rutledge, former EVP for Bank Supervision, Federal Reserve Bank of NY; and Tucker Carlson, respected political commentator and Senior Fellow at the Cato Institute. The event will also be filled with valuable thought-leader panel discussions on central themes in the industry: Infrastructure, Risk Management, and Regulatory Changes. Register today! LinkedInFacebookTwitterEmail this Story

Product announcements appearing in SmartBrief are paid advertisements and do not reflect actual SIFMA endorsements. The news reported in SmartBrief does not necessarily reflect the official position of SIFMA.
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