Many business owners don't see the point of email marketing. They believe all of the hype that email marketing is dead so they don't want to waste their time. However, that is actually pretty far from the truth. Email is still quite powerful when it comes to growing your financial advisor business. (more…)
In the world of financial services it is a common misconception when people talk about digital marketing strategies to assume the audience is always your average consumer. The language used and the concepts suggested are usually attuned to draw in everyday people who might be interested in your products or services. However, for many businesses, this approach simply isn't sufficient. (more…)
Recently, the U.S. Securities and Exchange Commission (SEC) issued a guidance to help financial advisors determine when it is appropriate to use social media. The guidance helps to clarify Section 206(4)-1(a)(1) of the Investment Advisors Act of 1940. This section of the rule makes it unlawful to publish, circulate, or distribute any advertisement that refers, direct or indirectly, to any testimonial of any kind concerning the advisor or concerning any advice, analysis, report, or other service rendered by the advisor (i.e. the Testimonial Rule.) Even though the SEC has not specifically defined “testimonial,” they have interpreted it to mean “a statement of a client's experience with, or endorsement of, an investment advisor.” According to Institutional Asset Manager, whether public commentary on a social media site is a testimonial depends upon all of the facts and circumstances surrounding the particular situation. (more…)
Financial Advisors have found many ways to use Facebook while continuing to comply with regulations promulgated by the SEC and FINRA. One way for Financial Advisors to grow their prospect list and generate new clients is by running online promotions. The idea of running a Facebook promotion may not sit well at first, but it is achievable after receiving permission from your Compliance Officer. With just a quick understanding of how it works and some creativity, even the most novice social media user can create an engaging promotion. (more…)
