Building a presence on social media sites like Twitter, LinkedIn and Facebook can help financial advisors build a strong brand, attract new clients and enhance relationships with existing clients. But with stringent rules and regulations from FINRA and the SEC in place, many advisors have shied away from embracing social media to build their businesses.

Now, however, the SEC has loosened its stance on how financial advisors can leverage social media. The biggest change, of course, is that financial advisors may now promote client reviews that appear on third-party social media sites like Yelp. They may also comment on their personal lives via a social media account that is used for business purposes.

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