Advisors need to be compliant, effective and comfortable with their social media activities.
Socialware and Hearsay Social, are two technology companies that provide software for ensuring that advisors and their employers remain within regulatory bounds. Their offerings include features like content pre-review and archiving of all posted materials.
There are other products designed to help advisors market and promote themselves via social networks. These include offerings from vendors like Relationship Science, which offers search tools to help advisors uncover relationship-enhancing details about clients’ business and charitable contacts, and PeopleLinx, whose products help advisors establish a strong social media presence.
Still other providers, like New York-based Vestorly, sell online services that let advisors post items, such as a tweet or a blog, and then track which of their clients read and share it and with whom.
To understand how firms including Wells Fargo, Morgan Stanley, and Raymond James, among others are utilizing these tools while remaining compliant with FINRA rules click here.