The use of social media within an advisory practice has been the subject of much debate within the industry, but one of the most common arguments for advisors limiting or altogether barring sites like Facebook and YouTube within the firm -- compliance -- might be dramatically overstated.
The new model has to be able to serve clients "any time, any place and anyhow," said Bernie Clark, the head of Schwab Advisor Services at the financial service giant's annual Impact conference in Washington, D.C.
SEC Chairman Mary Jo White said the agency will review corporate disclosure rules to root out requirements that may be causing information overload for investors.
There are few marketing issues in the advisor sector that in recent years have inspired more interest -- and uncertainty -- than the use of social media in the practice.
Carson's coaching firm, Peak Advisor Alliance and digital content firm, Faulkner Media Group have joined forces to create a new digital content service for advisors.
Twitter, Facebook, and LinkedIn conversations don't come easily to banks. Here's a look at a few common missteps made in financial services.
Raymond James Financial, Inc. has partnered with social media sales platform provider Hearsay Social to help its advisors connect with clients and expand their practices.
Community bankers from Kentucky, Utah and North Dakota discuss specific ways they use Facebook, Pinterest and other social media to get to know their customers better and look engaged in their towns.
To help financial services firms adhere to corporate and regulatory standards when it comes to social media communciations, Actiance unveiled review and approval capabilities to its Socialite social-media management program.
Social media is an integral part of branding in the digital era, says UBS advisor Mitch Slater. "LinkedIn is the single best platform for advisors today."
Citi's social media guru Frank Eliason offers insights into how to pick social media partners, while consultants and lawyers share what's needed in any vendor relationship.
A strong majority of advisors (86%) said they had acquired more clients than they lost in 2012, according to a new advisor survey from Russell Investments, with nearly a half saying they had brought on more than 10 households. And 87% said they were "optimistic" about acquiring new clients in 2013.
To stay competitive in attracting the next generation of clients, advisors will need a strong digital presence. Social media is a big part of that, says UBS advisor Mitch Slater.
A targeted examination letter probes firms for detailed information on their social media use as the regulator grows more serious about enforcement.
As technology evolves, more firms are looking beyond a social media strategy to develop holistic digital marketing programs. Blane Warrene of RegEd insights on compliance for digital marketing.
So called value-add programs and tools from vendors are getting the attention of financial advisors and influencing their behavior, according to a new study, but still leave much to be desired.
Inertia, caution and waiting for clearer regulatory guidance on social media compliance keeps some financial firms behind the trends, says Blane Warrene says.
Which financial institutions "get" LinkedIn? Jennifer Grazel, the social media networks global head of category development - financial services, offers up several examples.
For all the hype surrounding social media sites as the next great marketing channel for advisors, a panel of industry leaders warned that the jury is still out on what role tools like Facebook and Twitter will ultimately play in financial-services firms.
The human side of financial planning has been somewhat overlooked among some advisors who have tended to limit their interactions with clients to providing financial advice. The high-touch approach could become a "growing market niche" for advisors.
We have the opportunity to think beyond tweeting and posting about how this will fundamentally change products in this industry, said Augie Ray, director of social media strategy for Prudential Financial. Its not just about getting content out we certainly have to do that too but there are a lot of changes coming in the next five years.
The Financial Industry Regulatory Authority has temporarily withdrawn a controversial proposal to require advisors, brokers and firms to incorporate links to the BrokerCheck database when they post content to social media sites.
Consumer advocate Jennifer Openshaw is launching a new company that offers advisors a platform in which to build social media communities, with some compliance features built in.
Kasinas new social media report ranks Vanguard, Sun Life, iShares, Putnam and Franklin Templeton Investments as the top five asset managers for social media practices.
The federal regulator published a guidance update to clarify what mutual funds and other investment advisors can say on their social media sites (and things have become much more social.)
What's next for financial advisors? How will wirehouses, banks and RIAs continue to evolve in the coming year? Tiburon's Chip Roame explains 15 key trends that every advisor must keep an eye on.
Just 34% of advisors believe that social media is a "wise use" of asset managers' time and resources and just over half (53%) feel that asset management firms are "smart to explore" social media.
Want proof that advisors need to be engaging with social media? Consider the SECs decision this week to let publicly traded companies make material corporate announcements on sites like Facebook and Twitter.
As entrepreneurial clients build their businesses, advisors should bring in specialists to maximize the value
Vendors of social media compliance software are expecting a nice boost from the FFIEC's complex new rule proposal.
Asset managers ramped up their marketing and compliance staff dedicated to social media efforts by more than 60% from 2011 to 2012, according to new research from Boston-based Cerulli Associates.
Financial advisors can best attract clients through social media by creating engaging, targeted and timed content, according to Joanna Belbey, Social Media and Compliance Specialist at Actiance. Here are some success stories.
ING Direct CIO Charaka Kithulegoda says the only problem with allowing users access to online banking through Facebook is the perceived stigma.
Through less promotional posts, advisors may be able to avoid the red tape.
Not a fan of Twitter yet? Scott Curtis, president of Raymond James Financial Services, talks about who he follows on Twitter and it's value for advisors.
LinkedIn is a powerful tool for advisors to connect with potential clients, but it should be used with careful diligence. Failure to do so could result in ineffective platform execution, or even worse a breach in compliance.
On the heels of getting recognized for its social media marketing content, Regions Bank dishes on what material has worked best for it and what it plans to do next in the socialsphere.
Social media is great for marketing. For customer authentication, not so much.
Social networking has become so common and broad-based in its use that banks have no choice but to incorporate social networking into their marketing efforts. Here are five ways they can do that.
AdvisorWorks offers advisors an 'outsourced infrastructure' and some smart features. But is it ready for broad use?
To help your youngest team members develop, set them up with mentors. Then consider finding one for yourself.
Advisors need to understand some core essentials about the new mold-breaking Microsoft operating system.
Many busy advisors find it tough to run their businesses and stay active across multiple social media channels. Here's some helpful strategies.
Only 45% of certified financial planners use social media for professional purposes, according to a survey released Thursday by the Certified Financial Planner Board of Standards.
Social media is starting to shake up the world of wealth management, but amid some big success stories, many advisors are unclear whether its worth their time.
Facebook, which is used by 85% of advisors that are using social media, is far and away the most widely-used application, followed by LinkedIn (56%), Twitter (44%), Google (34%) and YouTube (31%).
Financial services compliance technology firm RegEd is offering clients a social media library containing pre-approved content, as well as a series of dictionaries, or lexicons, of words or phrases to support compliance.
Changes in the independent advisory industry, shifting demographics and advances in technology make the ability to communicate your value critical to your success, according to Tom Nally, president of TD Ameritrade Institutional.
Many banks are just going through the motions, tweeting about things that are irrelevant to their followers, Ron Shevlin, an analyst with independent research firm Aite Group, writes in a recent report.
Asset managers are largely using social media to promote their brands, according to the latest research from Cerulli Associates.