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How to Embrace Social Media and Stay Compliant: Exactly!

Blue NumbersHaving just readHow to Embrace Social Media and Stay Compliant” ,by Howard J. Stock, I have to say “Exactly!”  I love it when someone (other than me) gets it!  Social Media and Networking are my passion; I LOVE sharing information with people and connecting people with the resources and people they need to succeed.  Often, people in highly regulated industries, like finance and insurance, are hesitant to use social media for fear of non-compliance and the repercussions arising from it.  It’s a very serious issue indeed, but not necessarily a roadblock to using social media effectively.

Stock writes: “Armstrong points out that information doesn’t have to be timely to be useful. An advisor could put together an article on the Top 10 things to look for in a financial advisor, for example. ‘There’s plenty of time for compliance to bless it and then you can get it up on your website,’ he says.”  And I say, “Exactly!”  You can be a resource to your audience by providing sound advice and solid resources that hold up over time.  Breaking news is great for getting views, but not the only source.

Another concern with compliance is getting into trouble with comments, since they aren’t going to the marketing department for Macbook Keyboardapproval in the same manner as the original content.  Stock writes: “Making comments on something someone else has posted does entangle you, but ‘the biggest challenge isn’t compliance itself, but what’s inappropriate to say,’ Armstrong says. ‘Anyone who’s registered knows 99% of what they can and can’t say—you can’t promise a 10% return, for example…’ ”  I would also point out that you can moderate comments to include or exclude content.  Having a clearly stated comment policy and disclosure outlining whose opinions are represented and in what capacity are a must for any licensed professional.  If comments are too much of a concern for your company and there is no way to work around the issue, turn them off!  It’s not ideal, but it’s not worth ditching your whole effort over comments.

The referenced article, “How to Embrace Social Media and Stay Compliant“, by Howard J. Stock is a great example of using social media effectively in the world of finance.  Another fantastic example, a recent discovery and instant favorite of my own, is The Naked Portfolio Manager, by Robert Fischer.  He uses everyday examples and entertaining media clips to translate complex financial theories into entertaining, understandable articles suitable for financial professionals and the average reader.  Don’t take my word for it; check it out for yourself!

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Laura Pence Atencio

As Founder and CEO of Social Savvy Geek, LLC., Laura Pence Atencio is passionate about helping entrepreneurs and business owners meet and exceed their goals. She is committed to providing the most engaging and effective strategies in online marketing by combining traditional business networking and marketing fundamentals and best practices with current and engaging online marketing methods and tactics. Laura has worked with some of the top names in Internet Marketing and has consulted with entrepreneurs, businesses, and nonprofits in the US and abroad. She is the author of the popular article, 10 Tips to Build Your Twitter List Now, which has been published both online and in print in the US, Australia, and New Zealand. A lifetime student herself, Laura has achieved certification as a Computer Administrative Specialist at Beta Tech and has studied Art Education, History, Art History, and Criminal Justice at Virginia Commonwealth University. She is fascinated by learning, sharing and growing, not just in business, but in life. She participates in US Masters Swimming and has ranked in the top 25 nationally in her age group in both the 50 and 100-yard backstroke. She served in the VA Army National Guard as a Combat Engineer in the 229th Engineer Battalion. She never meets strangers, only friends not yet made– an attitude that serves her extremely well in the networking world, both online and off. She currently lives in Denver, CO with her husband, 3-year-old daughter, and German Shephard.

  • add our blog roll, a lot of our students are writing scripts and producing films about social media and the ramifications on society, I need help blogging about them. Please reach out 🙂 [email protected] (I handle the social media spheres)

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