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John Drachman

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Top Stories by John Drachman

By John C. Drachman Over the past five years, according to Paul Hagen at Forrester Research, there has been a sharp increase in the number of companies that have a single executive leading customer experience efforts across a business unit or an entire company. Guides like 'Intro to Social Media' Provide Customer Communications Solutions D. Bruce Johnston, Advisolocity’s president and CEO, says this trend will put additional pressure on asset managers to deploy more resources, if not more individuals, in their customer service area. “Mostly, the pressure is coming from the banks,” Mr. Johnston said. Wanted: Customer Attention “Money managers are finding themselves held to as high a standard as that experienced by customers at many of today’s banks,” he said. For Customers, Service Is 24/7 The rise of mobile technology, especially  iPads,  “are also conditioning peop... (more)

FINRA Funds Social Media Program

Financial social media marketing just received a welcome boost from the nation’s largest independent securities industry regulator. The Alliance Library System of East Peoria, Ill. received a grant of  $100,000 from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA) for social media and other education programs. FINRA steps up The library system will deliver saving and investing information through social media targeting individuals ages 13 to 35, according to Earth Times. The demographically and technologi... (more)

Financial Social Media Marketing

According to AdvisorTweets, Financial Industry Regulatory Authority Inc. (FINRA) says the delay is needed to reconcile comments from their membership. As reported in DBJ Associates, the industry is taking a closer look at social media as sales literature because advisors and investors want to have a hand choosing the communications forms they prefer. "The cost of not communicating to advisors and clients through their preferred vehicles (social media) does not make a lot of long-term business sense." Mr. Johnston said recently. FINRA has no intention of addressing  the social med... (more)

Independent advisors proving early adapters to FINRA 10-06 social media reg

"Attracting new clients has suddenly gotten easier,"  D. Bruce Johnston of  DBJ Associates said recently. "Low-cost and creative, social media strategies are like free money to underfunded marketing departments." Having to do more with less, smaller firms with low marketing budgets may be be taking the lead in adapting marketing strategies to FINRA 10-06's more permissible stance on social media. Larger organizations, on the other hand, may trust that yesterday's strategies will continue to work a little longer. Such is the case with the pace of change at Bank of America Corp.'... (more)

Social media rising: FINRA liberates advisor communications

Reprinted from Advisolocity It came down to a question of storage. Despite  the hedge fund industry's hiccups over storing social media content, regulatory requirements for investment marketers to keep records of all social media communications were easily met with low-cost archival systems one can find anywhere. Archiving made the difference Ease of storage is just one the liberating aspects embedded in the Regulatory Notice 10-06 on social media of the Financial Industry Regulatory Authority. Here are a few others: Build a social media policy and follow it. If FINRA comes knock... (more)