ShoeFitts Releases Social Media Best Practices Guide

A newly released white paper from ShoeFitts Marketing shows financial services firms how to develop a social media policy, including comprehensive steps and strategies. 

"Best Practices for Financial Services Firms: Rolling Out a Social Media Policy" explains general social media use and the growing popularity among all age groups, and covers key federal rules and stipulations, important policy components, guidelines for documentation, archiving and monitoring, plus advisor training suggestions. 

While compliance concerns are a leading reason why many financial services firms are reluctant to create a policy, the lack of a policy is even riskier, says ShoeFitts president Sheri Fitts. "Without a documented policy, firms are still at risk, particularly if advisors are using social media sites without guidance," Fitts explained in a press release.

The white paper features suggestions from social media experts at The Principal Financial Group, Securities America and LPL Financial who have already rolled out a social media policy. "We wanted firms to hear the implementation steps and important training recommendations that others in the industry have shown to be successful," says Fitts.