News Corporation, the parent company of the Wall Street Journal, is poised to launch a new social network that is targeted at readers of WSJ and Barron’s.
For advisors, such a social network could pose competition becuase it will hook investors up with information about investing and markets. However, for advisors who are engaged in social media, it could be a good place to connect with potential clients.
This Website Is For Financial Professionals Only
According to Social Times
, the new social network was described in The Times of London
as a “platform for ‘like-minded people’ to meet online and share ideas,” the network that will launch in a few months is not exactly the next LinkedIn.
“It really is more of a forum to talk about finance,” explained Colleen Schwartz, director of corporate communications at Dow Jones, although members will create their WSJ profiles using their real names.
The network will complement an existing product, WSJ Portfolio, which aggregates all of the user’s accounts into one consolidated view and weaves in business headlines from Barron’s and WSJ for the clients to read while they monitor their investments. Since its launch, the portfolio tool has synced and loaded $12 billion worth of assets.