Rules to Manage Social Media Channels!

“A new study from consulting firm Kasina came out this week revealing asset management firms’ use of social media. According to the study, 39% of firms are on LinkedIn, and between 20% and 25% are on Facebook, Twitter or YouTube. Even more interesting, while a whopping 84% of asset management firms believe social media will have a lasting impact on financial services, only 48% engage in some form of social media.

Why the gap? Because, according to the study, 74% of firms feel inhibited by compliance concerns.

Sure, that would’ve made sense a year—or even a month—ago. But with FINRA’s recent new social media guidelines —much of which was surprisingly lenient on things like Tweets and wall posts—advisors have no reason to fear social media any longer. In last week’s column, we discussed great new ways to use LinkedIn and Twitter. This week, we continue our three-part special on social media discussing how to build your online presence across myriad social media outlets.”

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