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4The new social media training program designed specifically for advisors was rolled out this week by LIMRA and social middleware firm Socialware.

The training program, “Insight Advisor Series” is designed to provide a framework for adopting social media sites in a compliant manner with tips to help advisors take advantage of this new communications channel within the bounds of industry regulations as proposed by FINRA.

The subscription-based app can be accessed online from the LIMRA website, or from your firm’s e-learning management systems. Supposedly, a group of five financial services firms have been testing the application for several months and according to Socialware CEO, Chad Bockius, have moved beyond using social media in a compliant fashion and are now finding ways to differentiate themselves from competitors online and off.

Social networking sites can provide a wealth of information to an advisor before he picks up the phone to cold call a potential client. It’s the trend of the future as far as building relationships, particularly with the “generation Y” investors who are the most active users of the social media sites.