More and more, the financial services industry is realizing the business benefits of online social media tools—as well as the legal and compliance risks that come along with them.
A just-released survey of nearly 200 financial advisers found that more than 60 percent already use social media for business purposes, that figure is expected to reach 71 percent by 2011.
The bad news: 39 percent of respondents said they use social media in violation of their companies’ policies, which often prohibit such Websites as Facebook, Twitter, or LinkedIn. The worse news: 43 percent say their company either doesn’t have a ...