How To Set Up A Facebook Page For Your Advisory Firm

Monday, May 23, 2011 19:06
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How To Set Up A Facebook Page For Your Advisory Firm

Tags: client communications | marketing | Social Media

Here’s a step-by-step guide to help you initiate your Facebook marketing campaign.

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A simple eight-step process for setting up a financial advisor's Facebook business page.

Comments (3)

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bramsay
The SEC statement on testimonials says it is prohibited to-

use or refer to testimonials (which include any statement of a client's experience or endorsement);

Since a facebook page owner has control over showing "likes", I can't see how allowing likes is ok since it is most certainly an endorsement. Is there any guidance that says its ok?
bramsay , May 24, 2011
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agluck
No, there is no guidance from regulators saying Facebook "likes" is okay for RIAs and that it is not a testimonial. But that does not mean you cannot use a Facebook page. Also,while many advisors are on Facebook, I have not seen or heard about any state or SEC disciplinary actions against RIAs using a Like button. I'll try to get some more definitive answers, but I don't think anyone has them.
agluck , May 24, 2011
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bramsay
thx Andy. We've been discussing social media marketing and we're wondering how effective it would be if we have to exclude anything that looks like an endorsement- that is after all one of, if not the primary points to social media marketing. That would include not only "likes" but positive comments from our clients. Maybe enough advisors will take the leap and the SEC will decide its ok if its widely used?
bramsay , May 24, 2011

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