Stay professional or stay private There are risks.
“The issue for the pros is that the institution of [ﬁnancial] analysis risksbecoming de-professionalized. In the sameway many jobs that took specialized skills became commoditized by the use of new tools or access to information, the era of DIY ﬁnancial analysis is dawning.” Horace Dediu, former analyst, now blogger at Asymco, January 19th 2011
•Archive - All Communications •Supervise - Training, Policy and Procedure •Include Disclaimers - Recommended •Avoid Recommendations - Even Likes! -FINRA Guidelines 20093 in 5 online investors are active social media users -2009 Forrester Research Study
Financial Social Media Examples 60% of online investors are active social media users
- TO DO• Google news/blog sites• Setup a Google Reader• Subscribe to 10 sites• Use Technorati.com• Check out Mashable.com• kempedmonds.com RSS :)• Bonus: Build a blog Create.
Bridge the Digital DivideDevelop Relationships - Long Term
What is Success?• Are you learning new things? Finding new sources of information?• Qualitative measures matter more in terms of human connections, learning and experience gained.• Have you connected with someone you admire and met in real life?• Developing meaningful connections?
3 Ways to Get Started1. Setup your accounts: Connect with fellow ﬁnancial advisors. Stay away from ﬁnancial discussions online. Don’t make recommendations2. Post generic information: news items, interesting stories, information that matters to your target audience.3. Combine: social networks with your newsletter and email campaigns. Include social links in your email signature.
Thank You• The GuideBooks: mashable.com/guidebook• The Role of Social Media in Financial Markets: j.mp/ﬁnmark• This presentation is available now: j.mp/kempcfa Special Thanks to Ken Wu