Lay the Ghost of Compliance To Rest!


Don’t let the ghost of compliance haunt you this Halloween. It’s time to dig that grave and lay the ghost to rest.

Sound a bit ghoulish? A trick instead of a treat? Not to worry.

I know many people fear using social media because of compliance concerns. Whenever I speak or train on the issue of social selling, the worry and barrier I hear about most often is compliance. But this isn’t 2006 (when I first started teaching folks about the social space). Even the SEC acknowledges that YELP exists.

Happy Halloween!

To help you get over your compliance fear, I’m giving away my Mastering Compliance module for free. Frankly, my intention is that you’ll find it helpful, entertaining, and encouraging. Encouraging enough to compel you to take the plunge into the full eCourse, Social Selling for Financial Advisors.

However, let’s not go there right now. Just take the Mastering Compliance course. It’s free. It’s short. It’s pretty much everything you need to create a solid foundation for moving your social selling forward. Because, if you’re not using social as a piece of your sales puzzle, you’re missing out. Social media and social selling are not hard or frightening when you understand and implement some simple, thoughtful guidelines.

There is tremendous selling power in today’s digital marketplace with 1.5 billion global social media users spanning all generations and demographics. This collective group, known as Generation D (digital), includes some 75 million investors with over $27 trillion in assets.

You know that cold calling sucks. And studies show that more than 90 percent of the time it flat out fails. Yet, you also know you want more warm leads.

Lets lay the compliance ghost to rest. Join me in Mastering Compliance. I make it fun, interesting, and helpful. Even better, it’s free! Just like Halloween candy.

ShoeFitts Marketing Creates Social Media Rollout Best Practices Guide for Financial Services Firms

Portland, OregonSeptember 12, 2014 — ShoeFitts Marketing shows financial services firms how to develop a social media policy with comprehensive steps and strategies in the newly released Best Practices for Financial Services Firms: Rolling Out a Social Media Policy white paper. “Despite today’s overwhelming demand for social media connectivity, many firms and broker dealers in the financial services industry are still reluctant to create a social media policy,” explains ShoeFitts president Sheri Fitts. Read more

Three Stars for the SEC! (Guideline Allows Advisors to Share Third-Party Commentary)

Yahoo! The growing importance of social media commentary and web-based review sites is being recognized by the Securities and Exchange Commission (SEC) Division of Investment Management. Finally, investment advisors can join the world or restaurants, hotels, and other business entities by sharing endorsements from sites like Yelp and Angie’s List.

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7 Must Knows About Social Media Compliance

When it comes to social media I often find myself remembering the fable of the town gossip. Overcome with shame at his misconduct, the gossiper asked the town elder how he could repair all the terrible things he’d said. In response, the town elder split open a pillow and watched as the feathers were cast out, every which way, into the wind. He turned to the troubled gossiper and asked him to go collect all the feathers. “That’s impossible,” said the man.

So too, what you say in social media cannot be taken back no matter how hard you try.
Social media can be a particularly tricky environment to navigate for such a highly regulated industry like that of Finance. Goldman Sachs only uttered its first tweet as of May 2012. Caution is key, but it’s no excuse to sit this one out. Here are 7 Things To Know About Social Media Compliance:

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Social Media Policy: Getting Clear on the Rules

We’ve heard stories of disgruntled employees who are pink-slipped after committing some social media sin deemed unacceptable by their powers that be. To avoid a similar fate, take a close look at the principles and standards that govern your employees’ or firm’s use of Facebook and other social media channels. Are they clear and accessible, undefined, or vague?

There’s no room for ambiguity here, particularly given the question of financial advisor compliance. Social media policies are akin to the investment policy statements you draft to define and confirm financial objectives. A social media policy ensures your firm’s management and staff have a clear understanding on how social media activity needs to work in relationship to the business. The policy eliminates any confusion and helps protect the best interests of your firm, brand, and its employees.

Here are a few tips to help educate yourself on a social media policy and also to get you started on establishing a policy to serve your own company:

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Elephant in the Chat Room

Every second, two new members join LinkedIn. Every minute, 72 hours of video is uploaded to YouTube. And 90% of people trust online recommendations from people they know. 1 Read more