Managed-account communication standards gain approval

Managed-account communication standards gain approval A complex industry is now one small but significant step closer to speaking the same language. The Money Management Institute’s board of governors this week approved the release and publication of the Account Origination and Maintenance Standards release Version 1.0. Those standards were submitted by the aptly (if not succinctly) named Managed Account Solutions Standards Committee Account Origination and Maintenance Subcommittee of Washington. Central to the MASS committee’s mission is promoting communication across the managed-accounts industry by providing industry definitions along with a consistent electronic format and supporting documentation. “The MMI board has made this a priority over the past several years because of the gains that the industry can achieve through a widely adopted communication standard. The board endorses the work that the MASS committee is doing as the standards can provide efficiencies that result in better client service and savings,” Henry Kaplan, managing director of Morgan Stanley in New York and MMI board governor, said in a release. For more information, visit the MASS Account Origination and Maintenance Subcommittee and the MMI. tradeMonster unveils deal with Twitter Twitter mania continues unabated. Advisers who want to flaunt their trading skills, or help their more exhibitionist-inclined clients do so, need look no farther than tradeMonster. That’s because the Chicago-based online broker integrated its system with the microblogging platform Twitter, that oh-so-popular social networking tool that has more than 14 million people using it every month. With the integration, a financial industry first, whenever a tradeMonster customer looks at a quote or potential trade, he or she will have the choice of posting the trade information to Twitter. Upon deciding to share with other members of the network, a message is generated, automatically summarizing the trade within the 140-character Twitter message limit at no cost to the customer. “Twitter is a vibrant medium for the sharing of financial ideas, perceptions and achievements. We wanted our customers to have the freedom to contribute to that stream should they choose. Initial customer feedback has been fantastic, and members of the Twitter community have already sent us ideas for future applications,” Wade Cooperman, chief executive of tradeMonster, said in a release. For more information, visit tradeMonster. Twitter neophytes can visit the Twitter home page. Act releases upgraded software for advisers This week, Sage North America of Irvine, Calif., announced the availability of the latest version of its contact and client management program for financial advisers Act by Sage for Financial Professionals Among the program’s new features is the ability to link relationships between multiple contacts, improved Microsoft Outlook integration, expanded search capabilities and options for scheduling automated database maintenance. It is available for $299.99 per user at theAct online store. Act Premium for Financial Professionals, recommended for organizations with 10 or more users, is available for $469.99 per user fromAct Certified Consultants. A premium version designed for larger firms is also available. For additional information, visit Act by Sage for Financial Professionals.