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Successful Social Media Integration for the Wealth Management Industry: How to Stay Compliant

These are exciting times for the wealth management industry. Before social media opened up the channels for brand positioning, social monitoring, and making new connections with current and prospective clients, it was difficult—and often cumbersome—to interact in a safe and compliant manner. However, as LinkedIn’s Director of Financial Services, Dan Swift, noted in a recent interview with us, “The data from the SSI [Social Selling Index] shows a surprising forerunner: the industry around wealth management, which is interesting as it’s one of the most highly regulated sectors. This area has solved a lot of its compliance challenges, and recognizes the enormous potential of social media.”

We’ve created the Wealth Management: 9 Social Media Guidelines that Drive Business Success Guide to help firms and advisors implement social media strategies that support business goals and deliver measurable ROI, while remaining compliant.

Download the Guide

The 2014 World Wealth Report from Capgemini and RBC Wealth Management reported that 41% of high net worth individuals under the age of 40 cite social media as important for accessing information, 36% for engaging with wealth managers and firms, and 34% for executing transactions. These statistics show how important it is for those in the wealth management industry to implement a robust social media strategy, if they haven’t already.

The guide will give you practical information on:

  • Understanding where your firm is in terms of social media usage
  • Centralizing departmental social media efforts and formalizing workflows
  • Formulating guidelines around regulatory compliance
  • Training your social media team to maintain a strong, unified brand voice
  • Connecting with customers in their own local communities
  • Creating a plan to respond quickly—and sincerely—to customers on social media channels
  • Understanding not just how to measure analytics, but how to apply that gathered intelligence
  • Developing a robust, effective content plan
  • Committing to a social media strategy so it works for your firm over the long term