Top Stories by D. Bruce Johnston
While LinkedIn offers an attractive gateway to the world of social media,
many financial professionals we have been speaking with downplay the
importance of other social media tools like Twitter. That sentiment was
forcefully expressed recently in John Ridley's Visible Man column, which
decries Twitter as a stomach-churning indulgence for navel gazers.
Is John right? Are Twitter and its fellow social media apps best suited for
distracting easily bored, attention deficit fad followers? That thought was
on the minds of many at the Russell Reynolds Distribution Roundtable focused
on Social Media tools as a way to expand distribution for asset & wealth
management firms in New York recently. The other side of the story was
well-represented as well: That every game-changing communications improvement
arrived first as a fad. Those over 20 may remember the early cellular pho... (more)
New Media on Ulitzer
Topic A at the recent Securities Industry and Financial Markets Association
Annual Meeting (SIFMA) was what to do about the fastest-growing
communications phenomenon since the invention of the Internet: the explosion
in social networking.
Whenever compliance and communications come together there is sure to be a
tussle and this meeting was no different. Chairman and CEO Rick Ketchum cited
the current policy as “currently constructed, these sites would not permit
you to easily supervise these communications. For that reason, most firms
prohibit their employe... (more)
The Financial Industry Regulatory Authority’s slightly relaxed oversight
standard for interactive blogging in the money management world means tweets
are here to stay, according to John Drachman, writer and creative director
for The Drachman Group, Inc., and Advisolocity, a social media forum for
“This is something to cheer about,” Mr. Drachman added.
According to FINRA, if a blog is used to engage in real-time interactive
communications FINRA would consider the blog to be an interactive electronic
forum that does not require prior principal approval.
“The social media... (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)
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