Actiance’s social networks solution allows Raymond James to manage advisors’ use of Facebook, LinkedIn and Twitter.

Raymond James has just implemented a new social media platform from Actiance that will allow the broker-dealer to use social media sites including LinkedIn, Facebook and Twitter while complying with Financial Industry Regulatory Authority (FINRA) regulations. 

Called Socialite, Actiance’s security and compliance solution for social networks allows Raymond James to manage advisors’ use of Facebook, LinkedIn and Twitter. Socialite controls access to more than 150 features across social networks and lets financial services firms moderate, manage and archive any social media traffic routed through the solution.

AdvisorOne’s sister publication Research reported in its August issue that firms such as Actiance, Socialware, Erado and Arkovi are rolling out new and improved technology solutions to help advisors stay compliant as they tweet, blog and connect.

“We made a public commitment earlier this year to provide additional marketing and communications support for our advisors who wish to connect with existing clients and prospects via social networking sites,” said Mike White, marketing director at Raymond James, in a statement on Wednesday. “In addition to incorporating the technology and archiving platform, with Actiance, we have developed guidelines, training sessions and marketing and communications support to help advisors leverage social media in their client engagement and new prospecting activities.”

In August, FINRA provided guidance to brokerage firms about social media and the use of personal devices for business communications. With Regulatory Notice 11-39, “Social Media Websites and the Use of Personal Devices for Business Communications,” FINRA clarified how firms can use social media. The notice signaled that FINRA is aware of advisors’ growing desire to use social media.

Raymond James will leverage Actiance to provide additional marketing and communications support for advisors who wish to connect with existing clients and prospects via social media, while ensuring regulatory compliance, according to a news release from Actiance. The broker-dealer also worked with Actiance to develop guidelines, training sessions and marketing and communications support to help advisors leverage social media for client engagement.

“Financial advisors are increasingly recognizing that communication is moving to social media,” said Kailash Ambwani, president and CEO at Belmont, Calif.-based Actiance. “Our Socialite platform is helping them to engage with clients and prospects, expand their social reach, and increase their book of business — in essence, results that are measurable by real revenue.”

Actiance customers include 284 FINRA registered firms, nine of the top 10 U.S. banks and 1,600 other organizations worldwide.