Deals & People January 25, 2011

linkedFA Acquires Similar Networking Site

linkedFA, a social networking site designed for financial professionals, has acquired AdvisorConnect, a private, online community for independent advisers.  
Reported by

The acquisition allows linkedFA to integrate AdvisorConnect technology, management and membership base into its site, the company said.  Like linkedFA, AdvisorConnect offers independent advisers a place for collaboration and social networking that took compliance issues for financial professionals into account.

“We’re very excited to team up with linkedFA to help advisers build credibility and grow their practice through social media. I strongly believe all financial professionals will benefit from this niche community,” said co-founder of AdvisorConnect and financial adviser Vincent Esposito.

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linkedFA has reached more than 5,000 international members comprising financial advisers, registered representatives, registered investment advisers (RIAs), insurance advisers, and CPAs, since its launch in March 2010.  It has called itself the “first and only FINRA-compliant social networking site for financial professionals” (see “Social Networking Site for Advisers Says It’s FINRA-Compliant”).  Richard Joyce was appointed as Chairman of the Board earlier this year (see “linkedFA Appoints Richard Joyce Chairman of the Board”).

Products January 25, 2011

Pershing Adds ING Funds to Platform

Mutual funds from ING Fund Services are now available to Pershing-affiliated broker/dealers (B/Ds) and registered investment advisers (RIAs).  
Reported by

Pershing LLC, a BNY Mellon company, announced that it has added ING Fund Services to FundVest, Pershing’s no-transaction-fee mutual fund platform. FundVest offers investors access to more than 3,700 mutual funds, managed by more than 230 fund companies; investors can buy, sell or exchange mutual funds through their financial intermediary without incurring regular transaction fees.

Sandy Motusesky, director of investment solutions in the product management and development group at Pershing, said, “The addition of ING Funds to our platform demonstrates our continued commitment to expanding our no-transaction fee mutual fund platform.”

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Pershing expanded its FundVest platform last November as well, by adding Janus and Pacific Life funds.   

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