Top Stories by D. Bruce Johnston
Social Media on Ulitzer
RIAbiz.com recently discussed the findings of an August 24-25, 2009
Investment News survey conducted on the Twitter habits of the
financial-advisory community. Not surprisingly the survey reveals that "a
mere 14.9% of financial advisers say they communicate with clients or
colleagues through Twitter. Meanwhile, only 44.9% and 43.8% of advisers say
they use LinkedIn and Facebook, respectively, the survey found".
Have RIAbiz.com and Investment News missed the point? It's not about
Twitter, Facebook or LinkedIn! It's about communicating with one's
customers and clients utilizing ALL the tools available!
So, what's my point?
Practical, functional, and sensible go a long way to enhancing the
relationships financial advisors are trying to create between themselves and
their customers and clients, with or without social media tools. Social
With hope and fear. If they can publish a few blog posts, advisors can extend
the life of a public relations story nearly effortlessly. With social media
and its ability to generate attention inexpensively, it's hard not to
The difficulty comes in when you ask an RIA what they are willing to pay for
it. An RIA must opt for at least a minimal, consistent effort to
communicate their subject matter expertise to their prospects.
So, while the vehicles underlying all that publicity are almost free, the
talent to assemble content and distribute it is not.
And that's the r... (more)
By D. Bruce Johnston, DBJ Associates
Researchers and compliance officers are rallying around FINRA’s landmark
10-06 rule on social media-driven investment communications to give guidance
to legions of newly energized investment marketers.
Marketers rejoice: Hedges
“We’re seeing new levels of enthusiasm among marketing communications
project managers,” said Zach Hedges of Advisolocity recently. “Marketers
on a tight budget see sunlight through the clouds.” He credits freeware
networking site Linkedin, Twitter and WordPress for a lot of the investment
marketers regained optimism.
Remember, we're human beings and after all isn't that what this social media
thing is all about? Isn't it about connecting people to people? Connecting
people to you, your product, your service, your solution? And what will
happen in the future? It will be about connecting clients to clients where
they will discuss you, your product recommendations, your service standards,
and results of the solutions you recommended.
How will you ever provide this high level of connectivity? Will it come
through B2B, P2P, LinkedIn, Twitter, Facebook, some "killer apps" or F2F
meetings? Finally ... (more)
Last week I sat on a social media panel at the "Innovation and Growth In A
Post Economic Crisis Era" Conference sponsored by Spectrem Group and
Financial Advisor Magazine. Other panelists were Daniel Bernstein, JD
Director of Professional Services, Market Counsel and Dr. Christopher W.
Young Jr, Ph.D, Global Director - Strategy and Solutions Wealth Management
for Dow Jones.
Dan did an excellent job discussing FINRA Regulatory Notice 10-06, , FINRA's
Guidance on Blogs and Social Networking Web Sites. (View Full Notice). He
pointed out, Regulatory Rule 10-06 makes it clear that an... (more)