While most broker-dealers and their advisers remain stuck on social media’s sidelines in lieu of any actionable guidance from either the Securities and Exchange Commission or FINRA, Edward Jones is quietly building a legion of “fans” on Facebook, with moderate success, according to a new report by Corporate Insight, a consulting firm in New York.
Edward Jones has 5,325 fans, attracted to the page by content urging them to acknowledge “National Save for Retirement Week,” (its post Wednesay) and so on. All links lead back to Edward Jones’s corporate site, which houses the pre-approved, static original content. Edward Jones’s Facebook page doesn’t allow fans to post comments on its site. “It’s all just Edward Jones content,” said James McGovern, vice president of consulting services at Corporate Insight. “So it’s very safe that way.”