The Socially Savvy Advisor + Website: Compliant Social Media for the Financial Industry

Introduction

Nicky Gumbel arrived early at his kid's soccer game. Realizing the regular referee was late and no other dads were around, he decided to step in.

Nothing was set up—no cones, no nets, no markings for the boundaries. Gumbel wasn't a soccer player himself and knew little about the rules. But he thought, What the heck, let's get the kids on the field and start kicking the ball.

The problems started early and quickly escalated.

“Some shouted that the ball was in. Others said it was out. I wasn't at all sure, so I let things run,” Gumbel recalled. “The game soon descended into complete chaos.”

Kids were getting hurt and arguing over purported fouls, but Gumbel couldn't tell who was right or how to resolve the disarray.

Then Andy, the regular referee, appeared on the scene. “The moment Andy arrived, he blew his whistle, arranged the teams, told them where the boundaries were, and had them under control,” Gumbel said. “Then the boys had the time of their lives!”

What does this have to do with social media in the financial industry?

Advisors frequently chafe against the restrictions that compliance places on them. That's become more acute in recent years, as people in the industry explore the bounds of what works and what doesn't in the new world of social media.

Yet limits—whether on the soccer field or in the financial social media world—actually create a framework. They allow us to operate within the cones and spawn a game with purpose and excitement. Without limits, ...