Months after other advisory firms made their social media choices, some giants like Raymond James are only now making up their minds.
Raymond James picked start-up Actiance to run its FINRA-compliant Twitter, Facebook, and LinkedIn platform.
Like a lot of big institutions, they liked the technology's ability to review profiles and other content before it's posted.
This minimizes the headaches that their in-house compliance teams face when monitoring thousands of accounts -- Raymond James, for example, has to keep an eye on 5,400 advisors.
Interestingly, Actiance's growth seems to have slowed. Back in June, they touted more than 1,600 institutional clients.
They still have roughly that number, give or take a few dozen.
This shows us that most of the big firms in the business have already found their social partners, so there just aren't as many prospects left for Actiance or its rivals to capture.
Your firm has, right?