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Social media through a financial lens webinar presentation

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How investors in a regulated world can make use of social media platforms while remaining compliant.

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Social media through a financial lens webinar presentation

  1. 1. Social Media Through a Financial Lens<br />
  2. 2. Social Trivia<br />
  3. 3. Social Trivia<br /><ul><li>If Facebook were a country, it would be the 3rd largest behind China and India</li></li></ul><li>Social Trivia<br /><ul><li>If Facebook were a country, it would be the 3rd largest behind China and India</li></ul>906millionhours/month spent on social networks and blogs<br />(Source:Nielson Net View)<br />
  4. 4. Social Trivia<br /><ul><li>If Facebook were a country, it would be the 3rd largest behind China and India</li></ul>906millionhours/month spent on social networks and blogs<br />(Source:Nielson Net View)<br />600millionpeople on Facebook<br />(Source: AllFacebook.com)<br />
  5. 5. Social Trivia<br /><ul><li>If Facebook were a country, it would be the 3rd largest behind China and India</li></ul>906millionhours/month spent on social networks and blogs<br />(Source:Nielson Net View)<br />600millionpeople on Facebook<br />(Source: AllFacebook.com)<br />over100million<br />people on Twitter<br />(Source:ClickZ)<br />
  6. 6. Social Trivia <br /><ul><li>If Facebook were a country, it would be the 3rd largest country in the world</li></ul>906millionhours/month spent on social networks and blogs<br />(Source:Nielson Net View)<br />600millionpeople on Facebook<br />(Source: AllFacebook.com)<br />100millionvideos viewed on YouTube every day<br />(Source: AllFacebook.com)<br />over100million<br />people on Twitter<br />(Source:ClickZ)<br />
  7. 7. 70% of the world’s population have mobile phones57% of people talk more on-line than in real life<br />
  8. 8. Who is using social media <br />50% of users log on each day<br />48% of users are over 35<br />45-54 age group fastest growing on Facebook<br />A new member joins LinkedIn every second<br />Twitter has more searches than Bing or Yahoo<br />Socialware: How Advisors are Using Social Media for Business<br />
  9. 9. Why engage in social networking<br />2010 Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Business<br />
  10. 10. Advisors are turning to social networks <br />47% of respondents report having identified one or more referrals from their social media activity<br />36% have acquired new customers through social media<br />10% stated they identified over 21 new referrals<br />Socialware: How Advisors are Using Social Media for Business<br />
  11. 11. FINRA Regulatory Notice 10-06 <br />Firms must have a policy in place<br />Firms are required to capture and retain social networking content (SEC 17a-3 and 17a-4), whether generated inside or outside the office<br />Firms are required to supervise social networking content under NASD rule 3010<br />Firms must make reasonable efforts to ensure their employees do not violate standing policies for endorsements and advertisements<br />
  12. 12. Defining a social media policy<br />Need to consider:<br />How will you or your firm adopt social media<br />What are the policies that you’ll put into place<br />Who will supervise users<br />Training users<br />Automating policies and procedures<br />
  13. 13. Static and interactive content<br /><ul><li>Static content
  14. 14. e.g. Facebook Info Tab, LinkedIn Profile & Twitter Bio
  15. 15. Text that is published and remains unchanged
  16. 16. Requires pre-approval 3
  17. 17. Interactive content
  18. 18. e.g. Facebook Post, LinkedIn Network Update, Tweets
  19. 19. Text that is updated or changes frequently
  20. 20. Does not need to be pre-approved
  21. 21. Accepting 3rd party posts
  22. 22. e.g. “Like,” comments from others or recommendations
  23. 23. LinkedIn recommendations are “static” content, considered advertisements and trigger Rule 206(4)-1 of the Investments Advisers Act of 1940 prohibiting inclusion of testimonials in advertisements
  24. 24. Companies should block access to accepting recommendations</li></li></ul><li>You may not be compliant according to FINRA 10-06<br />You are your firm may be at risk if you are:<br />Editing your profile on LinkedIn or Facebook<br />“Favoriting” or “Liking” 3rd party posts<br />Displaying LinkedIn recommendations<br />Posting status updates or comments to Facebook/LinkedIn, tweets without reviewing and retaining content<br />Using social media without a risk management policy in place<br />
  25. 25. Jonathan Oleisky<br />Founder & CEO<br />joleisky@media924.com<br />LinkedIn.com/in/joleisky<br />www.media924.com<br />Twitter: @media924<br />410.382.4017<br />Gerri Baum<br />Director Social Media& Internet Marketing<br />gbaum@media924.com<br />LinkedIn.com/in/gerribaum<br />www.media924.com<br />Twitter: @media924<br />410.409.7061<br />

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