Advisor Group IBDs to Allow FAs to Use Facebook, LinkedIn & Twitter

Advisor Group is using SunGard’s Protegent Social Media Surveillance, which allows the firm and its three broker-dealers to monitor and archive content that advisors post to Facebook, LinkedIn and Twitter, so it is in compliance with FINRA’s books and records surveillance requirements.

“Our tools and policies are flexible enough that advisors can post certain content in real time and other content that must go through an approval process [in which] the firm is committed to a quick turnaround,” said David Ballard, chief information officer of Advisor Group, in an interview. “Interactive conversations that take place will obviously be in real-time with the firm conducting a post review of the communication trail.” 

Advisor Group executives believe that some advisor branch offices will want clients to follow them on social media sites to obtain the latest economic updates, as well as information about what is going on within their practice, according to Art Metzger, vice president of advertising supervision for the Advisor Group. 

“Others will likely form their messages around looking for new clients, and in some cases, we expect that our recruiting branches may solely use social media to attract new advisors to the firm,” said Metzger in an interview. 

Metzger and other Advisor Group executives believe that, by year-end, all of the 4,800 advisors affiliated with the firm “who want to use social media will be using it,” he shared. “With our comprehensive training course and flexible, advisor-friendly social media solution, advisors who have adopted the offering are delighted with it, and we are confident that we will continue to see this positive response as more advisors utilize Facebook, LinkedIn and Twitter.”