Joyce Sullivan, Founder and CEO of SocMediaFin, Inc. designs and delivers exclusive executive sales training to the Hootsuite global sales team

1. Exclusive Presentation for:
Hootsuite Sales Team
Vancouver, BC, Canada
Friday, July 13, 2012
2pm PDT / 5pm EDT
Financial Services and Social Media
Knowing Compliance + Rules of Engagement = Sales
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com

2. Exclusive Presentation for:
Hootsuite Sales Team
Vancouver, BC, Canada
Friday, July 13, 2012
2pm PDT / 5pm EDT
Financial Services and Social Media
Conversation
AGENDA:
- overview and introductions
- financial services and social media use
- industry trends
- compliance and regulation update
Selling Social Media to Financial Services
- Research
- Know your Audience
- Pilot
- Next Steps
Created and Presented by:
Discussion and questions Joyce Sullivan
CEO | Founder
SocMediaFin.com

3. Top Questions for Today:
(1) What does compliance mean to you?
(2) Who should we be targeting as users of an SMMS
(Hootsuite) tool?
(3) What should we talk about with prospects?
(4) Where to find and connect with people that will use/be
influential in making the decision to bring in a tool?
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4. Visit us > SocMediaFin.com
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5. SXSW 2012 Financial Se
Five global women –
NZ, UK, US - who
work in financial
services and use
social media for work
Sketchnotes by Alexis Finch
http://GraphiteMind.com
http://schedule.sxsw.com/2012/events/event_IAP9392 5

6. Social Media Tools: How Do I
Know Which App I Should Use?
 Who are you?
 What do you have to say?
 Who are you trying to reach?
 How do THEY want to be reached?
 Once you connect, then what?
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7. US Industry Trends: Shrinking and Growing Industries 2007 - 2
Council of Economic Advisors, February 2012 report
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8. Social Media Strategy for Financial Services
for US Firms
 Can you use social media in financial services?
 What are the rules?
 The Fun stuff: FINRA, SEC and other regulatory guidance
 How do firms use social media compliantly
 What should social media management systems (SMMS)
organizations (Hootsuite) know about working with
financial services firms
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9. Who are you?
Social Media and Financial Services
 New graduate joining a financial services firm
 Moving from another industry that used social media extensively
 Public Relations firm with financial services clients
 Advertising firm working with financial services
 Software provider of services to financial services organizations
 External Legal or Compliance firm working with financial services firms
 Internal Legal or Compliance firm supporting line of business
 Sales or Marketing department who want to use social media to increase
sales
 Senior Leaders wondering if you should get into social media
 Your new hires have ideas to grow the business using social media
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10. Banking and Online Communications
Telephone – OK; may have recorded line
Memos – OK; as copies are saved and archived
Email – originally not OK since electronic communications call under same
rules as hard copy memos; all correspondence must be saved up to 7 years
Instant Messaging – may be used only internally; no external use unless
compliance software captures all messages
Social Media – LinkedIn: some firms allow but have disabled external
messaging feature
Twitter – not allowed unless compliance software in place to monitor msgs
Facebook – not allowed unless compliance software in place
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11. 11

12. FINRA Regulatory Notice 10-06
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13. FINRA Regulatory Notice 11-39
In August 2011, The Financial Industry Regulatory Authority (FINRA) provided
clarification of 10-06 guidance for social media activities for
investment broker dealer firms with focus on:
- Social media websites
- Use of Personal Devices for Business Communications
11-39 Summary Highlights
 Communication content is determinative; not the communication channel
 A Firm is subject to the “adoption” and “entanglement” theories regarding
third party posts (Retweets, LIKES, of others’ content)
 Business communications through personal devices must be supervised and
recorded
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14. 14

15. FINRA Regulation 11-39
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16. Securities & Exchange Commission (SEC)
National Examination Risk Alert
In January 2012, The SEC issued their observations related to the use of
social media by registered investment advisers
Key Takeaways: Investment advisers that use or permit the use of social
media by their representatives, solicitors and/or third parties should
consider periodically evaluating the effectiveness of their compliance
program as it relates to social media. Factors that might be considered
include usage guidelines, content standards, sufficient monitoring,
approval of content, training, etc. Particular attention should be paid to
third party content (if permitted) and recordkeeping responsibilities.
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17. SEC Investment Adviser Use of Social Media
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18. Types of Financial Advisors
Registered Representatives Investment Advisors
(Broker-Dealer)* (Registered Investment Advisor)*
Regulated by FINRA and the SEC Regulated by SEC or state
regulators
Paid via commission Paid fee by client
Suitability – recommendation must Fiduciary responsibility – must
be consistent with best interest of place clients interest above own
client
Ethics Legality
Transactions Advice
*Dually registered firms must adhere to both SEC and FINRA rules
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19. Best Practices for Financial Services Employees
If a financial services firm has approved social media use:
DO
4.Discuss macro economic concepts
5.Discuss various sectors or industries
6.Discuss retirement concepts
7.Educate the public on financial markets and products
8.Post company non-product or services related announcements
9.Post messages that have a broad appeal (i.e. charity events or good will activities)
10.Post generic responses to third-party postings
DON’T
13.Mention individual stocks or investment names
14.Provide investment advice
15.Promote your products and services
16.Make provocative or promissory statements regarding direction of the markets or price of
commodities
17.No retweets on Twitter
18.No ‘Likes’ on Facebook
19.No unauthorized employee postings
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20. Top Questions for Today:
(1) What does compliance mean to you for financial services?
- Having a social media policy in place
- Following company social media policy in practice and spirit
-Know the rules and regulations for the industry
-Have a coordinated effort across the firm to ensure consistent
messaging
-Have a central community management area between internal and
external
-Transparency across the firm in messaging
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21. Top Questions for Today:
(2) Who should we be targeting as users of an SMMS (Hootsuite) tool?
- Do your research first
Does a firm have an existing social presence?
Check for official Facebook / LinkedIn / Twitter, etc presence
Research industry conferences for financial services firms
- Finding an internal advocate / champion is best
- Top of the House
CEO
CMO
CTO
- Follow the Money
Sales and Marketing
- Keep Compliance in the Loop
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22. Top Questions for Today:
(3) What should we talk about with prospects?
- Let them know you know they have regulatory and compliance
hurdles
-Ask about their social media policy.
If they don’t have one, help them write one
- Help educate on the rules; most don’t know the specifics
- Engage the buy side / decision makers as soon as possible
- Offer to do a pilot of limited duration with small group
- Find out their pain points and how your solution could help
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23. Top Questions for Today:
(4) Where to find and connect with people that will use/be
influential in making the decision to bring in a tool?
- Online search
- Industry Forums
- LinkedIn or other niche specific groups
- Your own network
In person events may be the most valuable for connecting,
since all written communications must be supervised / reviewed
/ archived
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24. Thank you!
Connect with me!
LinkedIn: http://linkedin.com/in/joycemsullivan
Website: http://socmediafin.com
Twitter: http://twitter.com/joycemsullivan
Facebook: SocMediaFin, Inc on Facebook
CNBC TV:
Joyce Sullivan on WSJR with Maria Bartiromo
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25. Exclusive Presentation for:
Hootsuite Sales Team
Vancouver, BC, Canada
Friday, July 13, 2012
2pm PDT / 5pm EDT
Financial Services and Social Media
Knowing Compliance + Rules of Engagement = Sales
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com