The Miller Group Social Media Proposal

Goals for The Miller Group

Would like to attract new clientsWishes to better serve its client group

UWSMB Team will suggest a marketing effortThat makes the Millers more visible in the

communityThat employs Social Media to engage that

communityDistinguishing them as civic and financial leadersResulting in increased business

Current Market Challenges & Opportunities

• Heavy Regulations – FINRA & SEC

• Recent stock market and economy has gone through large correction

• Heavier competition and oversight within financial industry

• Social media communication has evolved into a communication tool

“Technology will not

replace people.

People who use

technology will replace

people who don’t”

Current Market OpportunitiesFINRA & SEC acknowledged that social media is a tool

within the financial industry.

Although Compliance is lagging due to monitoring requirement and being risk adverse – there are 5 basic principles to follow:

1) Think ‘Advertising’ 2) No Testimonials3) Monitor Frequently4) Keep Records5) Develop a policy

Recent AnnouncementsMorgan Stanley has become the first major wealth

manager to allow its brokers use of social media tools!

Twitter – research, content and status updates

LinkedIn – interactive features

“The emergence of social media has changed the way in which people communicate with each other and companies interact with clients,”

Morgan Stanley Smith Barney U.S. wealth management boss Andy Saperstein said.

Goals, Objectives, Strategies

Goal: To better communicate with clientsMore frequent contact, more relevant informationResulting in deeper engagement

Strategies: improved web site and social media tools

Goal: Increased businessAcquire 15 new clients within 2 years

Strategies: Increased visibility of the Miller Group online

Increased visibility of Jeff and Curry in the community

Marketing

Target clients – individuals of high net worth

Clients enjoy the convenience of a trusted advisor to manage their money

Brand themselves - building relationships and trust

Increase community visibility through involvement enhanced by social media

Content and Engagement Plan

Who you are offline can be who you are online

Align yourself with industry and community leaders

Listen to the conversation first

Share local news, events, interests

Make sure it says “success” without saying “success”

Include approved material as made available

Social Media Platforms and Tools

Phase 1 – six months, planning and implementationThe Miller Group Web siteEnhancements to emailFacebook and LinkedIn pages – enhanced for Jeff, new for

Curry and GroupTwitter accounts established – Jeff’s and within MS

Phase 2 – longer termMetrics and monitoring of all platforms, leading to:Opportunities as the regulatory environment eases,Increasingly sophisticated use, Facebook private group

Measurement and Monitoring

FacebookLikes, Impressions, Feedback

LinkedInSearch Results

TwitterFollowers, Following, Re-Tweets, Klout Score

BloggingNumber of posts, conversion rate, subscribers

& inbound links

Identification of Organizational Support, Policy and Training

New organizational support from Morgan Stanley Social Media initiative

Internal support – budget and time commitment

Policy: currently MS communications rulesPolicy specific to Social Media forthcoming shortly

Training needs best met with a contracted social media service provider to coordinate all platforms and Web site, set up metrics, monitoring and SEO

http://www.facebook.com/pages/The-Miller-Group/206145746088633?sk=app_201143516562748

References Investment news b-d rankings. (2011, April 30). Retrieved from

http://www.investmentnews.com/section/broker-dealer-data-rankings?U-custom

Madden, M. (2010, August 27). Older adults and social media. Retrieved from http://www.pewinternet.org/Press-Releases/2010/Older-Adults-and-Social-Media.aspx

Magnacca, M. (2003). The product is you: position yourself for success as an advisor. Bloomington, IN: 1st Books.

Securities lawyer's desk book. Retrieved June 6, 2011, from http://taft.law.uc.edu/CCL/

NASD Notice to Members 99-03, SEC Approves Rule Amendments Requiring Review of Incoming, Written Correspondence; pg. 7 – 8. 

FINRA. Communications with the Public. Pgs. 1 – 6. http://finra.complinet.com/en/display/display_main

FINRA. Research Analysts and Research Reports. Pgs 1 – 11http://finra.complinet.com/en/display/display

FINRA. Guidelines to Ensure That Communications With The Public Are Not Misleading. Pgs. 1 – 2.

http://finra.complinet.com/en/display/display

FINRA. Guide to the Internet for Registered Representatives. Pgs. 1 – 6

http://finra.complinet.com/en/display/display

FINRA. Regulatory Notice – Social Media Web Sites; Guidance on Blogs and Social Networking Web Sites. January 2010.

References - Continued Triplestop . Social Networking for RIAs. www.triplestopllc.com Investment Advisors Act of 1040. Standards for Adviser Advertising. Securities Training Corporation s65-14-24 Investment Advisors Act of 1040. Compliance Policies and Procedures – Role of the SEC. Securities Training Corporation s65-14-24 Socia Networking for Investment Advisors by @joepolidoro on @arkovibackups blog: Arkovi

Social Media Archiving. http://blog.arkovi.com/2010/07/21/social-networking-for-rias/ The Uniform Securities Act. Misrepresentations and Omissions. Securities Training Corporation s65-14-23 Jacques Bughin and Michael Chui. KcKinsey Quarterly. December 2010. The rise of the

networked interprise: Web 2.0 finds it’s payday. Harvard Business Review. The New Conversation: Taking Social Media from Talk to Action.

2010. A Report by Harvard Business Review Analytic Services.  Marketo. Socail Media Tactical Plan. http://www.marketo.com/b2b-marketing-resources/best-practices/video-social-media/social-

media-tactical-plan.php