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: