July 18, 2013

Raymond James Gives Advisors Access to New Social Media Platform

Financial advisors are transitioning to a different Web-based marketing and compliance tool over the next month or so, the broker-dealer says

Raymond James (RJF) said Thursday that has formed a partnership with Hearsay Social for financial advisors who want to build more customer relationships and grow their businesses through social media. The broker-dealer says its previously used another technology vendor and is transitioning its reps to the new platform over the next few weeks.

“Hearsay Social’s platform not only helps keep them compliant, but will help advisors take advantage of many of the communication and relationship-building features that are unique to social media platforms,” said Mike White, chief marketing officer at Raymond James, in a press release. “The ability to utilize this platform on mobile devices and non-work computers is an additional benefit."

Raymond James says it first moved to help advisors use social-media marketing and compliance tools in November 2011. Since then, more than 2,000 of its almost 6,000 North America-based advisors are utilizing these Web-based resources for communicating and interacting with clients, it says. 

"Social media engagement is becoming critical to helping advisors manage and build their brands and support their client and prospective client communications," White said. "We are pleased to be able to offer our advisors more capabilities, greater flexibility and enhanced technology through the Hearsay Social platform.”

Clara ShihAccording to Hearsay Social CEO Clara Shih (left), “Tens of thousands of relationship managers use Hearsay Social daily to hear and respond to everything their customers and prospects are saying on social networks. We are excited to add Raymond James advisors to this list, and I am confident that this initiative will help maintain the superior client-first service that they are known for.”

Raymond James advisors are using LinkedIn, Facebook and Twitter with support provided by Hearsay Social; Google+ is being evaluated for future use. Advisors with Raymond James also have access to preapproved content about a variety of topics that they can share with clients and post “using a seamless process of compliance review,” according to the company.

“We consider our firm fairly active with social media and I have really enjoyed the flexibility and ease of use of the Hearsay Social platform,” said Amanda Piper, a Raymond James financial advisor with Wagner-Lee in Columbia, Md., in a statement. “We use both the compliance-approved content as well as our own original posts. The simplicity of posting to all our social networks, monitoring the engagement, and having the ability to respond to it has been great.” 

Jeff Blum, a Raymond James advisor in Westlake Village, Calif., says the social-media process and content are easy to follow and use. “I can post from my cell phone or any device. I particularly appreciate the calendar feature, being able to view and keep track of all my posts, then immediately click into the social media post to see what it looks like,” Blum said in a press release. “Hearsay Social allows me to create my own posts or choose from a vast library of pre-approved content. I know I am going to continue to utilize these new features.”

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