Develop Ad Policy
Advisors and their firms must have policies in place to govern how they address social media and how they train people to use it. Who is allowed to post content? Can they post from home networks or mobile devices? What is appropriate to post? In the end, a firm's social media policy should be an important part of the organization's overall operation and risk management policy.
Not only that, but the smartest firms address social media risk with the aid of technology. After establishing a policy and choosing its technology, the firm needs to educate employees so they understand how to best tap into the social networks, intelligently and compliantly. Blanket policies that prohibit advisors from posting just don't work. Those who obey will miss out on business opportunities and those who want to use social media will find ways to do so, leading to even greater regulatory risk.
Monitor and Educate
