It took a while, but the financial services industry is finally starting to embrace social media as a critical new communications method.

In many ways, specialty brokerage firms have led the way with innovative new services. Wall Street & Technology notes that the pioneers of the movement include brokerages such as Zecco and TradeKing. Their success has drawn in others. Now, a host of brokerages--discount brokerages as well as full-service brokerages--are following suit.

While many see social media strictly as an outreach and prospecting tool, some companies are going beyond. Zecco, for example, recently launched a Facebook application that "offers free real-time stock quotes, charts and community discussions. The app also enables users to trade directly from Facebook, placing buy and sell orders without ever having to leave the social network."

The innovation we're witnessing these days brings me to the point of this post: Wewill be offering a free webinar on October 26, called "The Future of Wealth Management: Social Media." We'll take a close look at the leading-edge efforts underway at Morgan Stanley Smith Barney. Sign up free online. -Jim