WALTHAM, Mass.--(BUSINESS WIRE)--Commonwealth Financial Network® today announces that, beginning in early June 2011, it will support advisor use of interactive social media marketing, including Facebook, Twitter, LinkedIn, and blogs. The independent broker/dealer–RIA has partnered with Erado Message Control to offer a compliance solution that meets FINRA requirements for review and retention of online marketing. Advisors will bear no cost, as Commonwealth will absorb all fees associated with supervisory and compliance services.
Commonwealth will offer a weekly selection of preapproved Facebook status updates, tweets, and blog posts to complement advisors’ social media efforts. How-to guides on establishing a social media presence, best practices and compliance guidelines for ongoing use, and a moderated forum to exchange ideas and consult with marketing experts at Commonwealth’s home office will also be made available.
“Interactivity is the key to a successful social media campaign, and we’re eager to fully support our advisors who wish to utilize a complete online marketing strategy,” said Todd Estabrook, Commonwealth’s chief marketing officer.
Commonwealth advisors will be able to comment, post, respond, “like,” and retweet on Facebook, Twitter, LinkedIn, and company blogs. Interactivity will be captured automatically and sent to Commonwealth’s Compliance team for post-review and retention.
“Social media marketing is a valuable component to any integrated marketing strategy, and we want to make it as easy for our advisors to implement as possible,” said Estabrook.
Erado was selected as the vendor of choice because it can capture interactivity for a single user login, while bypassing activity on profiles that are not subject to FINRA regulations, regardless of whether or not they share a machine. Commonwealth is absorbing the per-user, per-month fee for each site, saving individual advisors more than $300 per year on associated compliance costs.
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC and a registered investment adviser, is the nation’s largest, privately held independent broker/dealer, with headquarters in Waltham, Massachusetts, and San Diego, California. Commonwealth was ranked “Highest in Independent Advisor Satisfaction among Financial Investment Firms” by J.D. Power and Associates. The firm supports more than 1,400 independent registered representatives nationwide and makes available a comprehensive array of financial products and services. For more information, please visit www.commonwealth.com.
Commonwealth Financial Network received the highest numerical score in the independent advisor segment in the proprietary J.D. Power and Associates 2010 Financial Advisor Satisfaction StudySM. Study based on 2,863 total responses and measures overall financial advisor satisfaction among advisors registered with the Financial Industry Regulatory Authority (FINRA) investment firms. Proprietary study results are based on experiences and perceptions of financial advisors surveyed in February–June and July–August, 2010. Your experiences may vary. Visit jdpower.com.