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Exclusive Presentation for:
                                          Hootsuite Sales Team
                                         Vancouver, BC, Canada
                                           Friday, July 13, 2012
                                            2pm PDT / 5pm EDT




   Financial Services and Social Media
    Knowing Compliance + Rules of Engagement = Sales



                                       Created and Presented by:
                                               Joyce Sullivan
                                              CEO | Founder
                                            SocMediaFin.com
Exclusive Presentation for:
                                                Hootsuite Sales Team
                                               Vancouver, BC, Canada
                                                 Friday, July 13, 2012
                                                  2pm PDT / 5pm EDT
Financial Services and Social Media
Conversation
AGENDA:
- overview and introductions
- financial services and social media use
- industry trends
- compliance and regulation update

Selling Social Media to Financial Services
- Research
- Know your Audience
- Pilot
- Next Steps
                                             Created and Presented by:
Discussion and questions                             Joyce Sullivan
                                                    CEO | Founder
                                                  SocMediaFin.com
Top Questions for Today:


(1) What does compliance mean to you?


(2) Who should we be targeting as users of an SMMS
(Hootsuite) tool?


(3) What should we talk about with prospects?


(4) Where to find and connect with people that will use/be
influential in making the decision to bring in a tool?




                                                             3
Visit us > SocMediaFin.com
                             4
SXSW 2012 Financial Se




                                                     Five global women –
                                                     NZ, UK, US - who
                                                     work in financial
                                                     services and use
                                                     social media for work


                                                     Sketchnotes by Alexis Finch
                                                     http://GraphiteMind.com




http://schedule.sxsw.com/2012/events/event_IAP9392                                 5
Social Media Tools: How Do I
Know Which App I Should Use?
 Who are you?

 What do you have to say?

 Who are you trying to reach?

 How do THEY want to be reached?

 Once you connect, then what?




                                    6
US Industry Trends: Shrinking and Growing Industries 2007 - 2




   Council of Economic Advisors, February 2012 report
                                                         7
Social Media Strategy for Financial Services
                  for US Firms
 Can you use social media in financial services?

 What are the rules?

 The Fun stuff: FINRA, SEC and other regulatory guidance

 How do firms use social media compliantly

 What should social media management systems (SMMS)
  organizations (Hootsuite) know about working with
  financial services firms




                                                            8
Who are you?
         Social Media and Financial Services
 New graduate joining a financial services firm

 Moving from another industry that used social media extensively

 Public Relations firm with financial services clients

 Advertising firm working with financial services

 Software provider of services to financial services organizations

 External Legal or Compliance firm working with financial services firms

 Internal Legal or Compliance firm supporting line of business

 Sales or Marketing department who want to use social media to increase
  sales

 Senior Leaders wondering if you should get into social media

 Your new hires have ideas to grow the business using social media


                                                                            9
Banking and Online Communications
Telephone – OK; may have recorded line
Memos – OK; as copies are saved and archived


Email – originally not OK since electronic communications call under same
rules as hard copy memos; all correspondence must be saved up to 7 years


Instant Messaging – may be used only internally; no external use unless
compliance software captures all messages


Social Media – LinkedIn: some firms allow but have disabled external
messaging feature
Twitter – not allowed unless compliance software in place to monitor msgs
Facebook – not allowed unless compliance software in place
                                                                            10
11
FINRA Regulatory Notice 10-06




                                12
FINRA Regulatory Notice 11-39
In August 2011, The Financial Industry Regulatory Authority (FINRA) provided
clarification of 10-06 guidance for social media activities for
investment broker dealer firms with focus on:
- Social media websites
- Use of Personal Devices for Business Communications
11-39 Summary Highlights
 Communication content is determinative; not the communication channel
 A Firm is subject to the “adoption” and “entanglement” theories regarding
third party posts (Retweets, LIKES, of others’ content)
 Business communications through personal devices must be supervised and
recorded




                                                                            13
14
FINRA Regulation 11-39




                         15
Securities & Exchange Commission (SEC)
        National Examination Risk Alert
In January 2012, The SEC issued their observations related to the use of
social media by registered investment advisers
Key Takeaways: Investment advisers that use or permit the use of social
media by their representatives, solicitors and/or third parties should
consider periodically evaluating the effectiveness of their compliance
program as it relates to social media. Factors that might be considered
include usage guidelines, content standards, sufficient monitoring,
approval of content, training, etc. Particular attention should be paid to
third party content (if permitted) and recordkeeping responsibilities.




                                                                             16
SEC Investment Adviser Use of Social Media




                                             17
Types of Financial Advisors
Registered Representatives              Investment Advisors
(Broker-Dealer)*                        (Registered Investment Advisor)*
Regulated by FINRA and the SEC          Regulated by SEC or state
                                        regulators
Paid via commission                     Paid fee by client
Suitability – recommendation must       Fiduciary responsibility – must
be consistent with best interest of     place clients interest above own
client
Ethics                                  Legality
Transactions                            Advice


*Dually registered firms must adhere to both SEC and FINRA rules



                                                                           18
Best Practices for Financial Services Employees
      If a financial services firm has approved social media use:
DO
4.Discuss macro economic concepts
5.Discuss various sectors or industries
6.Discuss retirement concepts
7.Educate the public on financial markets and products
8.Post company non-product or services related announcements
9.Post messages that have a broad appeal (i.e. charity events or good will activities)
10.Post generic responses to third-party postings


DON’T
13.Mention individual stocks or investment names
14.Provide investment advice
15.Promote your products and services
16.Make provocative or promissory statements regarding direction of the markets or price of
commodities
17.No retweets on Twitter
18.No ‘Likes’ on Facebook
19.No unauthorized employee postings

                                                                                              19
Top Questions for Today:


(1) What does compliance mean to you for financial services?

- Having a social media policy in place

- Following company social media policy in practice and spirit

-Know the rules and regulations for the industry

-Have a coordinated effort across the firm to ensure consistent
messaging

-Have a central community management area between internal and
external

-Transparency across the firm in messaging


                                                                  20
Top Questions for Today:

(2) Who should we be targeting as users of an SMMS (Hootsuite) tool?

 - Do your research first
   Does a firm have an existing social presence?
   Check for official Facebook / LinkedIn / Twitter, etc presence
   Research industry conferences for financial services firms

 - Finding an internal advocate / champion is best

 - Top of the House
    CEO
    CMO
    CTO

  - Follow the Money
    Sales and Marketing

  - Keep Compliance in the Loop
                                                                       21
Top Questions for Today:

(3) What should we talk about with prospects?

- Let them know you know they have regulatory and compliance
hurdles

-Ask about their social media policy.
    If they don’t have one, help them write one

- Help educate on the rules; most don’t know the specifics

- Engage the buy side / decision makers as soon as possible

- Offer to do a pilot of limited duration with small group

- Find out their pain points and how your solution could help



                                                                22
Top Questions for Today:


(4) Where to find and connect with people that will use/be
influential in making the decision to bring in a tool?

    - Online search
    - Industry Forums
    - LinkedIn or other niche specific groups
    - Your own network

In person events may be the most valuable for connecting,
since all written communications must be supervised / reviewed
/ archived




                                                                 23
Thank you!
           Connect with me!


LinkedIn: http://linkedin.com/in/joycemsullivan
Website: http://socmediafin.com
Twitter:     http://twitter.com/joycemsullivan
Facebook: SocMediaFin, Inc on Facebook
CNBC TV:
Joyce Sullivan on WSJR with Maria Bartiromo



                                                  24
Exclusive Presentation for:
                                          Hootsuite Sales Team
                                         Vancouver, BC, Canada
                                           Friday, July 13, 2012
                                            2pm PDT / 5pm EDT




   Financial Services and Social Media
    Knowing Compliance + Rules of Engagement = Sales



                                       Created and Presented by:
                                               Joyce Sullivan
                                              CEO | Founder
                                            SocMediaFin.com

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Hootsuite Executive Sales Training: Financial Services and Social Media

  • 1. Exclusive Presentation for: Hootsuite Sales Team Vancouver, BC, Canada Friday, July 13, 2012 2pm PDT / 5pm EDT Financial Services and Social Media Knowing Compliance + Rules of Engagement = Sales Created and Presented by: Joyce Sullivan CEO | Founder SocMediaFin.com
  • 2. Exclusive Presentation for: Hootsuite Sales Team Vancouver, BC, Canada Friday, July 13, 2012 2pm PDT / 5pm EDT Financial Services and Social Media Conversation AGENDA: - overview and introductions - financial services and social media use - industry trends - compliance and regulation update Selling Social Media to Financial Services - Research - Know your Audience - Pilot - Next Steps Created and Presented by: Discussion and questions Joyce Sullivan CEO | Founder SocMediaFin.com
  • 3. Top Questions for Today: (1) What does compliance mean to you? (2) Who should we be targeting as users of an SMMS (Hootsuite) tool? (3) What should we talk about with prospects? (4) Where to find and connect with people that will use/be influential in making the decision to bring in a tool? 3
  • 4. Visit us > SocMediaFin.com 4
  • 5. SXSW 2012 Financial Se Five global women – NZ, UK, US - who work in financial services and use social media for work Sketchnotes by Alexis Finch http://GraphiteMind.com http://schedule.sxsw.com/2012/events/event_IAP9392 5
  • 6. Social Media Tools: How Do I Know Which App I Should Use?  Who are you?  What do you have to say?  Who are you trying to reach?  How do THEY want to be reached?  Once you connect, then what? 6
  • 7. US Industry Trends: Shrinking and Growing Industries 2007 - 2 Council of Economic Advisors, February 2012 report 7
  • 8. Social Media Strategy for Financial Services for US Firms  Can you use social media in financial services?  What are the rules?  The Fun stuff: FINRA, SEC and other regulatory guidance  How do firms use social media compliantly  What should social media management systems (SMMS) organizations (Hootsuite) know about working with financial services firms 8
  • 9. Who are you? Social Media and Financial Services  New graduate joining a financial services firm  Moving from another industry that used social media extensively  Public Relations firm with financial services clients  Advertising firm working with financial services  Software provider of services to financial services organizations  External Legal or Compliance firm working with financial services firms  Internal Legal or Compliance firm supporting line of business  Sales or Marketing department who want to use social media to increase sales  Senior Leaders wondering if you should get into social media  Your new hires have ideas to grow the business using social media 9
  • 10. Banking and Online Communications Telephone – OK; may have recorded line Memos – OK; as copies are saved and archived Email – originally not OK since electronic communications call under same rules as hard copy memos; all correspondence must be saved up to 7 years Instant Messaging – may be used only internally; no external use unless compliance software captures all messages Social Media – LinkedIn: some firms allow but have disabled external messaging feature Twitter – not allowed unless compliance software in place to monitor msgs Facebook – not allowed unless compliance software in place 10
  • 11. 11
  • 13. FINRA Regulatory Notice 11-39 In August 2011, The Financial Industry Regulatory Authority (FINRA) provided clarification of 10-06 guidance for social media activities for investment broker dealer firms with focus on: - Social media websites - Use of Personal Devices for Business Communications 11-39 Summary Highlights  Communication content is determinative; not the communication channel  A Firm is subject to the “adoption” and “entanglement” theories regarding third party posts (Retweets, LIKES, of others’ content)  Business communications through personal devices must be supervised and recorded 13
  • 14. 14
  • 16. Securities & Exchange Commission (SEC) National Examination Risk Alert In January 2012, The SEC issued their observations related to the use of social media by registered investment advisers Key Takeaways: Investment advisers that use or permit the use of social media by their representatives, solicitors and/or third parties should consider periodically evaluating the effectiveness of their compliance program as it relates to social media. Factors that might be considered include usage guidelines, content standards, sufficient monitoring, approval of content, training, etc. Particular attention should be paid to third party content (if permitted) and recordkeeping responsibilities. 16
  • 17. SEC Investment Adviser Use of Social Media 17
  • 18. Types of Financial Advisors Registered Representatives Investment Advisors (Broker-Dealer)* (Registered Investment Advisor)* Regulated by FINRA and the SEC Regulated by SEC or state regulators Paid via commission Paid fee by client Suitability – recommendation must Fiduciary responsibility – must be consistent with best interest of place clients interest above own client Ethics Legality Transactions Advice *Dually registered firms must adhere to both SEC and FINRA rules 18
  • 19. Best Practices for Financial Services Employees If a financial services firm has approved social media use: DO 4.Discuss macro economic concepts 5.Discuss various sectors or industries 6.Discuss retirement concepts 7.Educate the public on financial markets and products 8.Post company non-product or services related announcements 9.Post messages that have a broad appeal (i.e. charity events or good will activities) 10.Post generic responses to third-party postings DON’T 13.Mention individual stocks or investment names 14.Provide investment advice 15.Promote your products and services 16.Make provocative or promissory statements regarding direction of the markets or price of commodities 17.No retweets on Twitter 18.No ‘Likes’ on Facebook 19.No unauthorized employee postings 19
  • 20. Top Questions for Today: (1) What does compliance mean to you for financial services? - Having a social media policy in place - Following company social media policy in practice and spirit -Know the rules and regulations for the industry -Have a coordinated effort across the firm to ensure consistent messaging -Have a central community management area between internal and external -Transparency across the firm in messaging 20
  • 21. Top Questions for Today: (2) Who should we be targeting as users of an SMMS (Hootsuite) tool? - Do your research first Does a firm have an existing social presence? Check for official Facebook / LinkedIn / Twitter, etc presence Research industry conferences for financial services firms - Finding an internal advocate / champion is best - Top of the House CEO CMO CTO - Follow the Money Sales and Marketing - Keep Compliance in the Loop 21
  • 22. Top Questions for Today: (3) What should we talk about with prospects? - Let them know you know they have regulatory and compliance hurdles -Ask about their social media policy. If they don’t have one, help them write one - Help educate on the rules; most don’t know the specifics - Engage the buy side / decision makers as soon as possible - Offer to do a pilot of limited duration with small group - Find out their pain points and how your solution could help 22
  • 23. Top Questions for Today: (4) Where to find and connect with people that will use/be influential in making the decision to bring in a tool? - Online search - Industry Forums - LinkedIn or other niche specific groups - Your own network In person events may be the most valuable for connecting, since all written communications must be supervised / reviewed / archived 23
  • 24. Thank you! Connect with me! LinkedIn: http://linkedin.com/in/joycemsullivan Website: http://socmediafin.com Twitter: http://twitter.com/joycemsullivan Facebook: SocMediaFin, Inc on Facebook CNBC TV: Joyce Sullivan on WSJR with Maria Bartiromo 24
  • 25. Exclusive Presentation for: Hootsuite Sales Team Vancouver, BC, Canada Friday, July 13, 2012 2pm PDT / 5pm EDT Financial Services and Social Media Knowing Compliance + Rules of Engagement = Sales Created and Presented by: Joyce Sullivan CEO | Founder SocMediaFin.com