Start-up firm Finect seeks to simplify marketing with social media by allowing investment professionals to manage different social media platforms, including Twitter and Linked, in a single location, reports AmericanBanker.com.

Democratic Representatives Maxine Waters and John Delaney have proposed legislation that would slap fees on advisors to pay for regulatory examinations, reports Reuters.

The Senate is considering an Internet sales tax bill that could clear the way for states to tax financial services and financial transactions, reports InvestmentNews.