Advisors’ plan for their clients to avoid the initial volatility of Facebook’s stock is to grab exchange-traded funds. Two ETFs that will offer exposure to Facebook: Global X Social Media Index ETF (SOCL) and First Trust US IPO Index Fund (FPX). “We brought the fund to market in November 2011, and demand was slow when it first came to market, but following the announcement of the Facebook IPO it really took off and we’ve had many inquiries from the financial advisor community,” said Bruno del Ama, CEO of Global X Funds. “By the fifth day of trading, most of the volatility will play out as speculators exit,” del Ama said. “This is when financial advisors can look for sensible products that will offer access to Facebook.”
The Illinois carrier recently raised $35 million through a stock offering.
One of the recorded votes on amendments was on a jab at short-term health insurance.
A Principal Financial executive represented life insurers at the hearing.
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