The SEC and FINRA both have compliance regulations that require archiving and retention records of all social media communications. That sounds time consuming, doesn’t it? Let’s say your broker-dealer adopts Erado’s Social Media Compliance platform, and your compliance department creates a social media policy allowing advisors the ability to use LinkedIn, Facebook and Twitter.
You create personal accounts amongst these social networks and install Erado’s social media archiving application. Now you’re compliant, and you have access to use these social networks. The central question is, how do you effectively use social media to maintain relationships with current and potential clients? How do you self-promote yourself as a financial advisor?
The answer to these questions is to start being proactive.
- Update your email signature. Instead of just having your name, title, phone number and email address, include links to your LinkedIn, Facebook and Twitter accounts. Include your blog site even, if you have one. Let your contacts know you’re active on these networking sites and invite them to connect. If that doesn’t work, search and add them.
- Add people you know. Start farming your friends. This is a metaphor we use often at Erado. What we mean by this is take advantage of the suggestions given under “People You May Know (LinkedIn, Facebook),” and “Who to Follow (Twitter).” These suggested users are based on your network, and are connected to you through a mutual contact. Why not add them? Introduce yourself, explain what you do, the company you work for and how you may be of service.
Now that you have these connections, what kind of messages do you send out? What type of content is acceptable and what will keep your followers engaged? After all, it is about being social.