November 17, 2010

Two Firms Partner on Social Media Compliance Solution

A new archiving tool will help advisors meet compliance demands

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In an effort to provide advisors with a "comprehensive social media compliance" solution, MarketCounsel is partnering with BMRW & Associates to offer a social media archiving and monitoring tool designed for the securities industry.

Users of MarketCounsel's MailBanc and BMRW's Arkovi will be able to view all archived email and social media activity through MailBanc. MailBanc is a messaging service that allows users to "filter, capture, retain and monitor email communications." Arkovi archives communications on Facebook, LinkedIn, Twitter and in RSS feeds.  

“MailBanc was designed to provide financial advisors with a secure, centralized and completely searchable IT solution that addresses the strict compliance needs of the securities industry,” Marc Cohen, head of MarketCounsel’s MailBanc Division, said in a press release. “We are proud to offer the compliance solution that advisors demand and are very pleased to partner with BMRW to extend those capabilities to social media activity.”

Blane Warrene, chief executive and co-founder of BMRW, noted that "almost every environment requires its own custom solution."

"In this instance, Arkovi pulls raw data direct from social media sites and, through the ease-of-use of MailBanc, clients of both products can access compliance information through one portal," he said.

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