social media expert question & answer session
DESCRIPTION
The recent action by broker-dealers MSSB, Commonwealth and Raymond Jamesallowing their FAs to use social media has raised a lot of questions in the minds of Advisors. Join us as our panel of experts answers all your questions including:- What are the FINRA & SEC Regulations governing social media- How can an advisor make sure they are compliant?- What is social media archiving and how is it used?- Where is technology for advisors heading?- How are other advisors using social media now?- What are the best practices for using social media?Panelists:D. Bruce Johnston, President & CEO of Advisolocity Blane Warrene, CEO of Arkovi Zach Hedges, CEO of CaptureTrackConvert (CTC).TRANSCRIPT
Social Media for Financial Advisors: Expert Q&A
Presenters:
D. Bruce Johnston, President & CEO, Advisolocity
Blane Warrene, CEO, Arkovi
Zach Hedges, CEO, CaptureTrackConvert (CTC)
D. Bruce Johnston, President & CEO, Advisolocity
Blane Warrene, CEO, Arkovi
Zach Hedges, CEO, CaptureTrackConvert (CTC)
Agenda
1 Understanding the Rules, Policy and Strategy
2 How Advisors Are Using Social Media, Best Practices
3 Social Media Archiving, Monitoring, Intelligence
4New Technology: Automate Your Client Qualification Process
5 Q&A
•FINRA 10-06•NASD 3010•NASD 2210 (b)•SEC 17a4
Rules & Regulations
Rules & Regulations
What Did 10-06 Teach Us?
• Twitter, Facebook and LinkedIn are like traditional written communications
• Additionally-Websites = advertisements-Communications to 25+ prospects = sales literature-Password-protected websites = sales literature-Chat room discussions are public appearances
Rules & Regulations NASD 3010 & 2210 (b)
• The obligation to review correspondence-Supervisory role of surveillance-Retention of all material (even non-reviewed) to avoid surprises
• Moderation-The ability to moderate & pre-approve per 2210 (b) as needed with audit trail
Rules & Regulations
SEC 17a4
• Records Retention
• Indexing and Retrieval
• Verification and Time-Stamping
Rules & Regulations Our View of the Rules
© Arkovi 2011
Rules & Regulations SEC & Sweep Letters
• An editorial view on the SEC Sweep Letters regarding the use of social media
-http://bit.ly/secsweep
Policy
Before You Engage…
• Have a Policy-Outline who is authorized-Outline which platforms are acceptable-Include your own governance & ethics-Approved Technology-Signed Affirmations-Mitigation
Strategy Before You Tweet…
• Have a strategy-Executive support-Match the medium(s) to your firm culture-Resources-Content plan-Responding to negatives
Live Poll
Strategy
How Advisors are Using Social Media
Strategy
How Advisors are Using Social Media
Strategy
How Advisors are Using Social Media
Strategy
How Advisors are Using Social Media
Strategy
Best Practices
• Thought Leadership-Develop a Voice
• Measure Results-Monitor-Develop Metrics
• Expand Market Presence-Consistency-Be Found
• What You Need
• Questions to Ask
• Benefits of Archiving
Social Media Archiving
Archiving
• Capture content from anywhere
• Archive platforms-Facebook, LinkedIn, Twitter-Blogs, websites -Any platform with RSS feed
• Pre or post surveillance options
Monitoring
• Monitor your business & employee content
• Integrate to business systems-Content management systems-Email archiving platforms-Data warehouse & reporting dashboards
• Search, sort & report• Export to Excel
Intelligence
• Monitor what others say about you-Your brand and products/services-Your company-Your employees & partners
• Track keywords & phrases important to you-Track web and social alerts-Aggregate content-Generate Excel reports
Benefits of the Cloud
• Work from anywhere
• Work from any device
• Curate your social history
• Bonus benefits of research & resource tool
Automate your client qualifying processBuild a relationship with your prospects who aren’t yet ready for a sales conversation. By engaging them with thought leadership and relevant automated nurturing content, you build trust and gain mind-share.
New Technology
New Technology
Install Client Acquisition Technology into your Internet pipeline
New Technology
Capture Your Prospects
New Technology
Track Your Prospects
New Technology
Convert: Automate Relationship Building Activities
New Technology
Take an Action
New Technology
Client Retention
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Q&A and Contacts
Zach HedgesCEO, CaptureTrackConvert (CTC)[email protected] [email protected] x700
D. Bruce JohnstonPresident & CEO, [email protected] [email protected]
Blane WarreneCEO, Arkovi [email protected]@ArkoviBackups866.222.2334 x701
Justin ShepardByAllAccountsjshepard@[email protected] x156