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Social media compliance is growing up, with new tools, challenges

Tim Sprinkle | November 15, 2016

It’s a new day in the financial services industry, with the full arrival of financial social media, which brings with it a host of new challenges and opportunities.

First, the opportunities: No longer are wealth managers and firm executives asking whether or not they should be taking advantage of social media and other digital platforms to communicate with their clients and potential customers, but rather how best to leverage the new tools that are available to them as of 2016. The large institutions have been on board with this technology for a few years—Morgan Stanley kicked things off in 2014, when it gave the green light to its 160,000 financial advisers to tweet—and now even smaller firms have taken steps to embrace the power and potential of social media.

“Banks and credit unions are realizing that, from a marketing standpoint, they need to be on social,” says John Carini...

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