“Alert: Stop Using Social Media — Immediately,” declared the subject line of a mass email I received today from Elmer Rich III, a business development consultant to retirement advisors and investment advisors. Rich’s mass email was stern. But does his fear mongering makes any sense?
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“We are now forbidding our clients to use social media including Linked In,” says Rich. “As professional communciators (sic) and marketers we are very serious about stopping using social media. The legal and reputation risks are just too high and getting worse.”The core problem is no policing so anyone can go on and say anything about you and your firm and it is memorialized on the web forever, One of our clients in (sic) now involved in a law suit because of an offhand libelous and slanderous remark made on a Linked In discussion group. Stay off and stay away.”Linked In has become the biggest risk since it now carries you and your company’s professional image and it is open to immediate and permanent malicious attacks. You don't really want malicious folks knowing so much about you and your firm. Malicious folks and tctics are coming to dominate the web and social media -- sadly.Once you are attacked it is pretty much impossible to remove the false information or recoup your reputation. Ever.We and some of our clients are taking our profiles off of Linked In. It’s value is negative now. There are safer ways to use the new technology.We have been early adopter so all social media -- so we know at we’re talking about. Until there is strict policing of the “crazies” even having your own personal listing and company listing is a growing risk.We will be writing and consulting more on this and share more in the future.
- Unofficial American Express Financial Advisors consumer opinion site.