Social Networks are more commonly becoming a form of marketing by businesses all over the world. By marketing products and services on a Social Network, a business can tap into a huge pool of potential customers.
Not much different than RIA advertising regulations, the Financial Industry must be cautious about what they post while utilizing the tools of Social Media. Rules set forth by regulation agencies must be adhered to.
Below are several tips for Financial Advisors and Investors while using the tools of Social Media to market products or services:
- Social Media must be treated like a form of advertising, meaning specific advice or recommendations must not be given.
- Disclosure requirements still apply to Social Media.
- Rules regarding keeping electronic records of all communication would also apply to Social Media.
To address some of the issues facing the Financial Industry, linkedFA provides users with a Social Network that puts them in the right direction, helping them to stay within guidelines set forth by FINRA and other regulation agencies.
linkedFA is not approved by, endorsed by, or affiliated with FINRA.
linkedFA is a privately owned, independent company, founded in November 2008. It is the first and only social networking site for the financial community, evolving the way financial professionals and investors connect, inform and interact. linkedFA adheres to FINRA required compliance, supervision and record keeping features.