actiance social engagement

Jordan SchwartzSocial Collaborations Associate

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Enabling Social Media

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About Actiance, Inc

A decade of expertise, a history of firsts

Global Operations

• 3 US offices, three continents• 210 employees

Dedicated Social Engagement Team

• Partnering: networks, platforms, service providers

• Regulators: FINRA, IIROC, FSA, SEBI…

• Best Practice enablement, education

Client Engagement

• 9 out of the top 10 US Banks, Top 5 CDN Banks

• 284 FINRA firms

• 84,000 Social Networking users under license

Logo of Company here

ONE Platform to Manage & Secure ALL your Communications & Collaboration


Why Customers Select Actiance

“We chose Actiance because they had the resources and partnering culture to help us with our long term strategy”

– VP Technology, Interactive Marketing, Top 3 Wirehouse

“Actiance’s platform allows us to execute our long term vision of integrating our internal social platforms with consumer networks”

– SVP & CIO, Major Mutual Fund Company

“Socialite Enable and Engage offer the best mix of compliance and marketing capabilities allowing our advisors to develop their personal brands”

– Marketing Director, Top Regional Brokerage


97.09% of people questioned in a survey said their

buying decisions are influenced by social groups.

Confidential and Proprietary © 2011, Actiance, Inc. All rights reserved.


A majority of respondents indicate using social media for one or more business purposes.

SOCIAL MEDIA USAGE

For which of the following business purposes do you use social media today?

Base: all respondents in 2012 (1,428) and 2011 (1,597); multiple responses.

Social media usage

Respondents under 35 are more likely to use social media for business purposes than those 55 or older (68% vs. 45%)


Social Media Maturity Curve

Pre-Consideration

• No Social Presence

• Restrictive social policy

• No Social Tools

• Need to: identify options, best practices

Early Consideration

• Some Corporate Presence

• Banned/ restrictive policy in place

• Pilot program for content distribution might be in place

• Need to: justify distributed teams usage

Early Adopters

• Corporate Presence

• Acceptable use policy

• Social media being used by distributed

teams/advisors

• Need to: use social to develop, strengthen relationships, for some also as a sales channel

Early Majority

• Corporate SM presence

• Social media usage by distributed teams advisors

• Acceptable use policy

• Next step, use social to develop, strengthen relationships, for some also as a sales channel

• Previous concerns about FINRA and/ or impact of social media overcome by market acceptance and demonstrable results.


Six Social Principles for Success

Crowdsource ContentDevelop Personal BrandCreate Integral Strategy

Measure & AnalyzeEducate and TrainLeverage Customers


Partnering for Results: The Actiance Approach

Our goal is to enable your extended team to leverage the right social media channels to safely, effectively and compliantly strengthen relationships, to build their business and socially interact with clients

Logo of Company hereLogo of Company here

Monitoring, pre and post review, archiving and surveillance

Enterprise Solution Hierarchy

10

Content and usability are critical to success…which becomes immediately apparent once compliance is in place.

ENTERPRISE NEEDS FOR SOCIAL ENABLEMENT

CRM, workflow, content and marketing materials

To build a loyal, tuned in following requires above all else—relevance and authenticity

MUST be quick, intuitive, easy to use for FAs. Not another chore

Enterprise Solution Hierarchy

11

Content and usability are critical to success…which becomes immediately apparent once compliance is in place.

Socialite Enablefeature and content security and compliance for Facebook, LinkedIn and Twitter

Socialite Engageprotect brand and ensure compliance while allowing employees to share relevant content, measure impact and increase engagement

Socialite Enable Secure & Compliant use of Social Networks

Identity management

ActivityControl

Granular Application Control

Anti-Malware

Data Leak Prevention

Moderation Logging and Archiving

Export of Data

Socialite Engage Communicate, Measure, Nurture


Content Sources Internal Thomson Reuters Dow Jones Equilar

Enterprise Integration Receive Event Triggers Send Opportunities

Focus on the Important Key Connections Search Alerts

Measurement and Analytics ID Key Influencers Evaluate Platforms Time of Day Length of Conversation Type of Engagement

Actiance customers build new business and stay connected with clients

UK’s Largest Corporate Bank now enables clients to engage with each other and the Bank in an online community.

An FA at a major wire house client noticed a new LinkedIn client changed her status to “retired”, in mailed her, and ultimately won a $2.75m new account

An FA at a regional wire house client landed a $1m new account after only 93 tweets of moderated content were sent through Socialite

An FA at a national wire house client with deep energy industry experience and new to the wealth management world, used LinkedIn securely through Socialite and in a few weeks constructed a network of 400+, global energy industry contacts he could then effectively prospect to

At a national wire house client, 1000 FAs signed on to use social media through Socialite in the first three weeks of its enablement


How can we help further? OR

Let’s take a look

Thank you

Name in boldPosition in CompanyLINKEDIN PROFILEFACEBOOK PAGETWITTER ID

LOGO OF COMPANY

Pocket Slides: The Actiance Platform

Actiance Vision

ONE Platform to Manage & Secure ALL your Communications & Collaboration


The Actiance Platform

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Channel Interface

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Unified Identity and Policy Management

Actiance ApplicationsClassification, Retention, Tagging, eDiscovery, Legal-Hold, Business Analytics


Socialite Engage – Unified Engagement Platform

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Analytics – Measurement, Reach, Velocity

Unified View – Content Aggregation and Syndication

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Pocket Slides: Risks


The Challenges of Social and Financial Services

Doing Nothing Doing Something Badly


Gartner Research - Andrew Walls

“Do You Need a Social Media Security Policy ?”

“Social media is not a separate silo unto itself. It’s simply another form of

electronic communications – customers should look at expanding their

existing electronic communications policies to incorporate social media.

Customers should consider replicating policies from other communications

modalities across social media.”


FINRA Guidelines: Regulatory Notices 10-06 and 11-39

SEC Rules 17a-3 and 17a-4 and NASD Rule 3110 Retain records of communications related to business

Public Appearances Electronic forum & chat rooms, content posted to social media may constitute a public appearance

Prior Approvals Wall postings may require prior approvals

Participation Real-time participation on social networks equals participation

FINRA Regulatory Notice 07-59 For instance, communications between research and investment banking departments should be restricted

Restrict PersonnelOnly those subject to firms supervision should have access, provide training prior to engagement, prohibit or restrict those who pose a compliance risk. Restrict access with technology.

Regulation Social Network and Web 2.0 Impact


The First FINRA Sanction for Social Media

Jenny Ta

FINRA found that Ta failed to inform a registered firm principal that she had a Twitter account which, on occasion, she used to tout a particular stock. FINRA determined that Ta’s “tweets” were unbalanced, overwhelmingly positive and frequently predicted an imminent price rise, and Ta did not disclose that she and her family members held a substantial position in the stock. Fined $10,000. Suspended one year.


MR0281 Provides guidance on the review, supervision, and retention of sales literature, advertisements, and correspondence

Rule 29.1 Anonymous representations or recommendations are improper.

Rule 29.7 (1) Advertising and sales literature shall not be false or misleading.

Rule 29.7 (2) Written policies and procedures shall be in place regarding the review and supervision of sales literature related to the business.

Rule 29.7 (3) Some types of sales literature must be pre-approved by a supervisor.

Rule 29.7 (5) Recordkeeping requirements - two years for advertisements and five years for all correspondence

National Instrument 31-103 Firms must retain records of all their business activities and communications.

Regulation Social Media and Web 2.0 Impact

IIROC Guidelines


FSA Guidelines

Senior Management Arrangements, Systems and Controls (SYSC)

SYSC 9.1.1

An enterprise must arrange for orderly records to be kept of its business and internal organization.

SYSC 9.1.2 Records must be kept for at least five years.

SYSC 9.1.5 An enterprise should have appropriate systems and controls in place with respect to the adequacy of, access to, and the security of its records.

Policy Statement 08/1 Must record conversations on public and enterprise IM networks.

SYSC 3.1 A firm must take reasonable care to establish and maintain such systems and controls as are appropriate to its business.

SYSC 10.2 Firms must take reasonable steps to ensure that ethical walls remain effective and are adequately monitored.

Financial Promotions Industry Update No. 5

All communications or financial promotions must be based on the principles of fair dealing. Adequate records of financial promotions must be kept.

Regulation Social Network and Web 2.0 Impact


SEC Alerts: January 2012

*Dually registered firms must adhere to both SEC and FINRA rules.

Types of Financial Advisors

Registered Representatives (Broker-Dealer)*

Investment Advisors (Registered Investment Advisor)*

Regulated by FINRA and the SEC Regulated by SEC or state regulators

Paid via commission Paid fee by client

Suitability- recommendations must be consistent with best interest of clients

Fiduciary responsibility – must place clients interests above own

Ethics Legality

Transactions Advice


Securities Exchange Commission, January 4

Charges Illinois-Based Adviser in Social Media Scam

Investor Alerts: Social Media and Investing

– Avoiding Fraud

– Understanding Your Accounts

Investment Advisor Use of Social Media


National Examination Risk Alert: Investment Adviser Use of Social Media

Compliance program related to social media:

Must comply with federal securities laws

Create specific policies

Identify risks and test procedures to effectively address risks


SEC: Evaluate your compliance programs

Usage guidelines Define appropriate use of social media

Content Standards Examine risks pertaining to fiduciary responsibility for offering investment recommendations.

Monitoring Monitor firms social media sites and / or third party sites.

Frequency of Monitoring

Use risk-based approach to determine frequency of review. Consider third parties.

Approval of Content Consider pre-approval versus post review.

Firm Resources Are there enough dedicated compliance resources to adequately monitor activity?

Criteria for Participation

Analyze risk. Consider reputation of site, privacy policies, ability to remove third party posts, controls on anonymous posts, and advertising practices of social media sites.

Training Train IARs to promote compliance and prevent violations of federal securities laws and firm’s policies.

Certification Consider requiring certification by IARs to confirm compliance with social media policies and procedures.

Personal / Professional Sites

Adopt policies to address an IAR conducting business on personal or third party site, example, types of communications and content permitted (business card info v conducting business).

Functionality Examine functionality of each social media site, including privacy for clients.

Information Security Identify elevated information security risks associated with social media. Consider procedures to create firewalls between customer information, and firms’ proprietary information.

Enterprise Wide Sites Design policies to prevent advertising practices from violating Advisors Act

Issue Considerations

Source: SEC National Examination Risk Alert “Investment Adviser use of Social Media”, January 4, 2012


Third Party Content and Testimonials

Rule 206(4)-1(a)(1) under the Investment Advisor Act prohibits testimonials

While not specifically defined, SEC staff interpretation of testimonial: “statement of a client’s experience with, or endorsement of, an investment advisor”

Use of “like” button could be a testimonial under the Advisor Act


Record Keeping

Firms must develop policies that adhere to recordkeeping requirements set forth by the Rule 204-2 of the Advisors Act

Includes all written communications, including social media

Content is determinative

Must be retained and easily accessible for at least 5 years

Provide employee training

Check periodically that employees are complying

Index social media communications so a specific record is easily available

Use third parties to keep records

Key Legal Issues of Social Media

Privacy

Content Ownership

Intellectual Property Infringement

Unauthorized Activities

• Harassment

• Discrimination

• Unfair competition

• Defamation

• Confidential info

Regulatory Compliance


Key Statutes for Operators and Users of Social Media Sites

Section 512(c) of the DMCA

Section 230 of the Communications

Decency Act

No statutory immunities for users


Industry-Specific Legislation and Regulatory Bodies

GOVERNMENTFINRA

FINRA

SEC

GLBA

PCI DSS

ENERGY

FERC

NERC

GFTC

NFA

HEALTHCARE

HIPAAState of Oregon

Florida GRS

State of North Carolina

State of Massachusetts


Cautionary Tales

Investscape, Inc.

Jenny Ta

Whole Foods Market

FedEx & Ketchum


Pocket Slides: Case Studies

Outline Real Results

Case Study: RW Baird

LinkedIn Already Available to 1200

Veteran Advisers, tech savvy

Authentic Content

@MaryS_rwbaird

– 51 followers

– 93 Tweets (at the time)

– $1m prospect


Outline Real Results

Case Study: Wealth Management Firm (NJ)

LinkedIn Only

Listening is Key, watching connections who matter

Using Social as an integral element of communications mix to spot change

LinkedIn Connection retirement status change = $2m account acquisition

– Job Change noticed on Status Update = 401k rollower

– FA obtains 400 new prospects in Energy market

– New Commercial Account Opportunity through colleagues LinkedIn Connections


1200 Advisors live in 3 weeks!

Case Study: Raymond James


Raymond James advisers will be able to share both approved firm content and their own ideas, which will initially go through a screening process before being posted to LinkedIn or Twitter“ .”


Pocket Slides: Socialite Enable


Socialite Enable: Secure & Compliant use of Social Networks

Identity management Ensure that all the different logins of an individual link back to corporate identity

Activity control Posting of content allowed for marketing but read-only for everyone else

Granular application control Employees can access Facebook, but not Facebook Chat or Facebook Games

Anti-malware Protect network against hidden phishing or Trojan attacks

Data leak prevention Protect organization from employees disclosing sensitive information

Moderation Messages posted only upon approval by designated officer

Logging and archiving Log all content posted to social networks

Export of data Export stored data to any email archive or WORM storage

Issue Control Requirements


Social Networking Widget Categorization

– Control access to individual social media sites

– Allow/block application widgets on popular sites


Social Networking Feature Control

• Control features or areas of content posting by user or group• Patent pending DAY ZERO protection on new and changed

features


Content Monitoring

Policy summaries

Easy-to-set policies– Archiving

– Moderation

Lexicons

Actions to take


eDiscovery of Social Networking Posts

Social networking activity and posts are captured

All the captured events are presented for eDiscovery and available for export to archiving platforms


Moderation

Posts to Twitter/Facebook/LinkedIn held for review by the following criteria:

– All

– Keyword/dictionary matches

– Regular expressions (e.g., credit card/SSN patterns)


Moderator work queue & transcript review

Moderator queue allows bulk approve or each post reviewed individually.


End User Experience

Toolbar displayed for each site, showing user’s post “queues”

User can click on their queues and see a list of the messages


Pocket Slides: Socialite Engage


Socialite Engage: Activate Personal Brand

Socialite Engage helps Financial Advisors share relevant and pre-approved content, ensure authenticity of voice, measure impact and increase engagement to grow their business

The Socialite platform helps Financial Institutions protect brand and ensure compliance while allowing employees to share relevant content, measure impact and increase engagement

Socialite Engage: Activate Personal Brand

Content: Distribution of approved corporate content

Impact: Analyze and report on content performance

Network: Track aggregated engagement across social media

Key Contacts: Consolidated view of updates & interactions

Enterprise Integration: Integrate with backend platforms


Focus on the Key Connections in your life..


Content: CrowdSource Content that works


Sharing, Integration, Results

Share pre-approved, relevant content

Content Engagement Analytics

Consolidated view of connections’ activities

Integration with backend platforms

Built-in compliance


Analytics – Actionable results; measurable insight.


Pocket Slides – The Social Universe


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Understanding the Social Landscape


Pocket Slides: Services Available


Project Kick Off

Project Team Assigned

Project Plan Created and Approved


Education and Training for Success

Week 1

Week 2

Week 3

Week 4

Week 5

Week 6

Policy Finalization

Education Content Tailoring

Training Review and Test

Stakeholder Workshop

Roll out Additional User Training

Review

Pilot Go Live


Education and Training for Success

Role Based

– Admin / IT Policy Setting

– Compliance Reviewer

– Content Creator

– End User

Modality

– In person

– Web Conference

– Train the Trainer


Education & Training Materials

User Guides (printed)– User Guides on each Actiance product

– Best practice approach documentation to Facebook, LinkedIn, Twitter (designed for regulated users)

– Success criteria for social media in Financial Services

– Guide to FINRA 10-06 and 11-39, Guide to IIROC, Guide to FSA

– Mapping Facebook, Linkedin and Twitter features to FINRA 10-06 and 11-39; IIROC; FSA, Global Social Compliance Requirements

– The human elements of social media how to overcome the issues

– Social Checklist for Financial services: What not to miss

– Legal Issues of Social Media

– Ediscovery Requirements of Social Media

– ROI of Social Media for Distributed Teams



Recorded Industry Training– SEC and Social Media – what this means to the firm,

the regulated individual

– FINRA and Social Media – what this means to the firm, the regulated individual

– FSA and Social Media – what this means to the firm, the regulated individual

– IIROC and Social Media – what this means to the firm, the regulated individual

– Legal Issues of Social Media

– Ediscovery Requirements of Social Media



Recorded Product Training– Using Socialite Engage

– Getting Started

– Content Creation

– Sharing Library Content

– Crowdsourcing Content

– What people want to read – when’s best to share

– How to organize my Key connections

– Engaging and Dealing with Feedback and Comments

– Measuring my results


Legislative & Regulatory Environment Mapping

Statement of Work Identify scope of the legislative and regulatory environment that the community platform will cover.

Outline instances of legislation and regulation, with key elements relating the project.

Classify risks associated with specific regulations and legislation.

Outline key steps to take to mitigate risks related to the above (technical solution, policy, direction).

Notes: This piece of work is intended to provide high level guidance on the regulatory and legislative issues at play in

the formation of a virtual community, .hosted in the United Kingdom.

We will address applicable laws, regulation currently in place and also review upcoming requirements that may impact the community and the Bank.

Estimated delivery time Initial Draft: 3 weeks from confirmation of order.

Final Presentation & Report: 2 weeks from returned comments from draft.

Costs: $27,500. To include all research, reporting writing and in person presentation incorporating all comments and

updates from draft report.


Thought Leadership Support & Guidance

Statement of Work Provide the Bank with thought leadership guidance based on worldwide trends in community usage and

management.

Provide the Bank with feedback and review on competitive organizations use of social collaboration platforms

Recommend enhancements, information navigation and content roadmaps, editorial and content.

Assist with engaging relevant content providers and nurturing clients on providing content.

Provide coaching on content and engagement – setting the tone, what’s working, how to get engagement

Identify other communities, networks and business applications to connect the community with

Deliver virtual and face to face social community best practice events for groups of clients (this can be virtual, with best practice speakers, either Actiance or other social though leaders engaged via Actiance)*

Estimated delivery time Can begin immediately. Suggest a formal kick off (face to face), with agreed (twice monthly) virtual meetings

to follow a set agenda, with adhoc content provided as appropriate

*Virtual and Face to Face Events for the Community’s use – not included in this cost, but suggested as an element to promote the ongoing growth and usage of the community.

Costs: $7,500 per month based on initial face to face meeting, twice monthly virtual meetings and face to face

meeting once every three months.

*Organizing best practice social community best practice events cost to be determined if requirement.


Objective: Provide an overview of Social Media and how the regulatory environment affects use of such media by Financial Services Professionals

Knowledge transfer to include:– Review of applicable regulations and guidelines

– Supervision issues that need to be considered

– How rules map to each feature of the key social networks

– Discussion of best practices for compliance

Social Media Enablement for Financial Services


Knowledge transfer to include:– Why is Social Media important?

– Social Media statistics

– Impact on mobile

– Why use Social Media?

– Facebook by the Numbers

– Success Stories for Facebook

– How do you do it? The 4 “E”s

– Create a Facebook Professional Page

– Establish a presence

Best Practices for Facebook

Objective: An interactive training workshop designed to enable effective use of Facebook

– Engage with customers and colleagues

– Prospect for new business/customers

– Update your status

– Educate and re-educate your network

– Expand your presence

– Do’s and Don’ts

– Measure your results

– Summary/Test/Evaluation






– LinkedIn by the Numbers

– Success Stories for LinkedIn


– Create a LinkedIn Profile


Best Practices for LinkedIn



– Update your status

– Educate (and re-educate) your network




– Summary / Test

– Evaluation

Objective: An interactive training workshop designed to enable effective use of LinkedIn






– Twitter by the Numbers

– Success Stories for Twitter


– Create a Twitter Profile


Best Practices for Twitter



– Tweet / Retweet / Direct Message

– Educate (and re-educate) your network




– Summary / Test

– Evaluation

Objective: An interactive training workshop designed to enable effective use of Twitter


Objective: Provide a documented, end-to-end implementation of the Actiance Socialite technology

Knowledge transfer to include:– Overview of the Socialite solution

– Corporate LDAP Integration allowing policy creation based upon the customer’s requirements

– Extensive customized reporting

– Automated exporting to external archiving systems or enterprise content management systems

– Deployment options: SaaS, on-premise, or hybrid

– Licensing options for all methods

– Multi-network mapping functionality to ensure corporate user identity

– Integration with USG for complete end-to-end solution

Standard Socialite Overview, Planning, Configuration, and Implementation


Pocket Slides: Explaining Deployment


Deployment Alternatives: User/Proxy vs. Page/API

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User/Proxy Approach– User traffic is routed through

Socialite – everything the USER does is managed

Pros

– Real time control

– Granular control over features & applications

Cons

– User must be on managed endpoint or network


Deployment Alternatives: User/Proxy vs. Page/API

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Pg 2

Pg 3

Page/API Approach– Socialite monitors the

User/Company Page through network APIs

Pros

– Everything that happens on the target page is monitored & archived

Cons

– No control over feature/application access

– Potential window of vulnerability


Profile Pre Approval Workflow

STEP 1User Creates Profile on LinkedIn

STEP 2Socialite intercepts changes and provides a notification that profile is being monitored and changes will only be made on approval

STEP 4• Reviewer signs-on to Socialite reviewer

console

• Reviewer reviews changes and Approves or Rejects them

• Reviewer also has an option to suggest changes

STEP 5User logins into LinkedIn and posts accepted changes

STEP 3Reviewer receives e-mail notification about pending changes


Content Approval Workflow

STEP 1User posts message on Facebook,

LinkedIn, or Twitter

STEP 2Socialite intercepts post and provides a notification that content is being monitored and will be posted only upon approval by the moderator

STEP 4• Moderator signs-on to Socialite reviewer

console

• Moderator reviews messages and depending upon appropriateness Approves or Rejects a message

• Moderator also has an option to leave a review comment for each post

STEP 5Accepted posts are sent to the network on behalf of the user

STEP 6Accepted posts are viewed by the user

STEP 3Moderator receives e-mail notification about pending messages


END


actiance social engagement

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social enablement

social toolschannel

social principles

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social engagement team

internal social platforms