Social media

Focus will be on building networks and boosting skills.

SEC Appoints New Head of Advisor Examination Program

Social media and technology usage has increased among ultra-high-net-worth and millionaire investors, according to a new Spectrem Group report.

Actiance announced the first social media enablement platform to work with Salesforce’s CRM data, allowing advisors to track and analyze sales discussions with clients in their blogs, on Twitter and other popular social media sites.

Deloitte survey also finds risks not continuously monitored at most firms despite available automation; most intend to revamp risk management within 12 months.

Morgan Stanley Smith Barney is rolling out LinkedIn and Twitter to its full 17,000-member financial advisor force with the aim of helping to make time spent in front of the computer more effective than cold calling client prospects.

"It's not how much you sell in social media," says Frank Eliason, SVP of social media at Citigroup. "The ROI is in the information that's out there; that leads to change and process improvement."

Fund firms are beginning to like social media and the devices their staffs use to communicate online with customers.

Social media platforms Facebook, LinkedIn and Twitter allow advisors to build new relationships and market their firms, but success varies from platform to platform.

Social media record keeping may become a larger challenge for firms as they keep pace with regulatory rules, Bank of America Merrill Lynch executive Douglas G. Preston said Wednesday at the Securities Industry and Financial Markets Association’s Social Media Seminar in New York.

A U.S. Trust survey reveals how three generations of wealth approach estate planning, elder care, and family privacy and security.

Advisors “are now at the point where they are asking, ‘What oar should I buy?’” said Blane Warrene, the CEO of Arkovi, a leading social media archiving service.

Social media is today's printing press and advisors have to be prepared for a new Rennaissance, according to Jason Seiden, the co-founder and CEO of Ajax Social Media Group.

They’re skeptical, cynical and probably way too dependent on mobile computing devices. But advisors who don’t make the effort now to target and cater to Generation X and Generation Y investors will pay a steep price in the next decade as their bread-and-butter Baby Boomer clients transition from wealth accumulators to wealth distributors.