As mutual fund and ETF managers target registered investment advisors for growth opportunities, they will benefit by understanding RIAs' advertising limitations, especially in the area of social media. Many RIAs experience difficulty in growing their businesses because of strict regulatory restrictions on advertising and marketing, including websites and social media, according to many RIAs and others in the industry.

RIAs' hands are tied in the area of advertising. Differentiating their firms from other RIAs is challenging, because of these advertising restrictions. Social media creates additional obstacles, because the advertisement will usually require numerous disclosures.

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