social media through a financial lens webinar presentation

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Social Media Through a Financial Lens

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

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Page 1: Social media through a financial lens webinar presentation

Social Media Through a Financial Lens

Page 2: Social media through a financial lens webinar presentation

Social Trivia

Page 3: Social media through a financial lens webinar presentation

Social Trivia• If Facebook were a country, it

would be the 3rd largest behind China and India

Page 4: Social media through a financial lens webinar presentation

Social Trivia• If Facebook were a country, it

would be the 3rd largest behind China and India

906

million hours/month

spent on social networks and

blogs

(Source: Nielson Net View)

Page 5: Social media through a financial lens webinar presentation

Social Trivia• If Facebook were a country, it

would be the 3rd largest behind China and India

906

million hours/month

spent on social networks and

blogs

(Source: Nielson Net View)

600

million people on Facebook

(Source: AllFacebook.com)

Page 6: Social media through a financial lens webinar presentation

Social Trivia• If Facebook were a country, it

would be the 3rd largest behind China and India

906

million hours/month

spent on social networks and

blogs

(Source: Nielson Net View)

600

million people on Facebook

(Source: AllFacebook.com)

over 100

million people on

Twitter

(Source: ClickZ)

Page 7: Social media through a financial lens webinar presentation

Social Trivia• If Facebook were a country, it

would be the 3rd largest country in the world

906

million hours/month

spent on social networks and

blogs

(Source: Nielson Net View)

600

million people on Facebook

(Source: AllFacebook.com)

100

million videos viewed

on YouTube every day

(Source: AllFacebook.com)

over 100

million people on

Twitter

(Source: ClickZ)

Page 8: Social media through a financial lens webinar presentation

70% of the world’s population have mobile phones57% of people talk more on-line than in real life

Page 9: Social media through a financial lens webinar presentation

• 50% of users log on each day

• 48% of users are over 35

• 45-54 age group fastest growing on Facebook

• A new member joins LinkedIn every second

• Twitter has more searches than Bing or Yahoo

Who is using social media

Socialware: How Advisors are Using Social Media for Business

Page 10: Social media through a financial lens webinar presentation

Why engage in social networking

2010 Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Business

Page 11: Social media through a financial lens webinar presentation

Advisors are turning to social networks

Socialware: How Advisors are Using Social Media for Business

• 47% of respondents report having identified one or more referrals from their social media activity

• 36% have acquired new customers through social media

• 10% stated they identified over 21 new referrals

Page 12: Social media through a financial lens webinar presentation

FINRA Regulatory Notice 10-06

1. Firms must have a policy in place

2. Firms are required to capture and retain social networking content (SEC 17a-3 and 17a-4), whether generated inside or outside the office

3. Firms are required to supervise social networking content under NASD rule 3010

4. Firms must make reasonable efforts to ensure their employees do not violate standing policies for endorsements and advertisements

Page 13: Social media through a financial lens webinar presentation

Need to consider:

1. How will you or your firm adopt social media

2. What are the policies that you’ll put into place

3. Who will supervise users

4. Training users

5. Automating policies and procedures

Defining a social media policy

Page 14: Social media through a financial lens webinar presentation

• Static content • e.g. Facebook Info Tab, LinkedIn Profile & Twitter Bio• Text that is published and remains unchanged• Requires pre-approval 3

• Interactive content • e.g. Facebook Post, LinkedIn Network Update, Tweets• Text that is updated or changes frequently• Does not need to be pre-approved

• Accepting 3rd party posts• e.g. “Like,” comments from others or recommendations• 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

• Companies should block access to accepting recommendations

Static and interactive content

Page 15: Social media through a financial lens webinar presentation

You are your firm may be at risk if you are:

• Editing your profile on LinkedIn or Facebook

• “Favoriting” or “Liking” 3rd party posts

• Displaying LinkedIn recommendations

• Posting status updates or comments to Facebook/LinkedIn, tweets without reviewing and retaining content

• Using social media without a risk management policy in place

You may not be compliant according to FINRA 10-06

Page 16: Social media through a financial lens webinar presentation

Gerri BaumDirector Social Media& Internet Marketing

[email protected]/in/gerribaum

www.media924.comTwitter: @media924

410.409.7061

Jonathan OleiskyFounder & CEO

[email protected]/in/joleisky

www.media924.comTwitter: @media924

410.382.4017