The fact that investment bank Goldman Sachs Group Inc. is using the photo-sharing app Snapchat to recruit young employees should nudge any financial advisor still hesitant about using social media to finally embrace it.

And according to a recent study from Putnam Investments, more than 80% of the advisors it surveyed said that they use social media for their business, reflecting how firms are finally figuring out the regulatory boundaries for communicating online.

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