Financial advisor social media compliance represents the regulatory framework that registered investment advisors (RIAs) must follow when using digital platforms to communicate with clients and prospects. This discipline sits at the intersection of wealth management digital marketing and regulatory adherence, requiring advisors to balance effective client engagement with strict SEC and FINRA oversight.
Key Summary: Financial advisor social media compliance ensures registered investment advisors meet regulatory requirements while building client relationships through digital platforms, requiring pre-approval processes, record-keeping, and content supervision.
Key Takeaways:
- SEC and FINRA regulations apply to all advisor social media activities, treating posts as business communications
- Pre-approval and supervision requirements vary based on firm size and platform usage
- Record-keeping obligations extend to all social media interactions and archived content
- Educational content receives more regulatory flexibility than promotional materials
- Third-party endorsements and testimonials face strict compliance restrictions
- Mobile and emerging platforms carry the same regulatory burden as traditional websites
This comprehensive framework connects directly to broader wealth management digital marketing strategies, where compliance considerations shape every aspect of advisor-client digital interaction.
What Is Financial Advisor Social Media Compliance?
Financial advisor social media compliance encompasses the rules, procedures, and oversight mechanisms that registered investment advisors must implement when using social media platforms for business purposes. The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) treat social media communications as business correspondence, subjecting them to the same regulatory standards as traditional marketing materials.
Registered Investment Advisor (RIA): A firm or individual registered with the SEC or state securities regulators to provide investment advice to clients, subject to fiduciary duties and comprehensive compliance obligations. Learn more from the SEC
The regulatory framework covers three primary areas: content standards, supervision requirements, and record-keeping obligations. Content standards ensure that all social media communications are fair, balanced, and not misleading. Supervision requirements mandate that firms establish procedures for reviewing and approving social media content before publication. Record-keeping obligations require advisors to maintain copies of all social media communications for regulatory inspection.
Key Regulatory Components:
- FINRA Rule 2210 governing communications with the public
- SEC Investment Adviser Act Rule 206(4)-1 on advertising restrictions
- State-level regulations for smaller advisory firms
- Industry guidance from regulatory bodies and self-regulatory organizations
Why Do Financial Advisors Need Social Media Compliance?
Financial advisors operate under strict compliance requirements because they manage client assets and provide investment advice that can significantly impact individual financial wellbeing. Social media amplifies both the reach and regulatory risk of advisor communications, making compliance oversight essential for protecting both clients and advisory firms from regulatory violations.
The consequences of non-compliance extend far beyond simple warnings. The SEC and FINRA regularly impose financial penalties, business restrictions, and even registration revocations for social media violations. In 2023, regulatory bodies issued over $4.2 billion in fines to financial services firms, with communication and supervision failures representing a significant portion of violations.
Compliance Benefits:
- Protection from regulatory penalties and sanctions
- Enhanced client trust through transparent communication practices
- Competitive advantage through compliant digital marketing capabilities
- Reduced liability exposure for firm principals and employees
- Streamlined audit processes and regulatory examinations
The regulatory landscape continues evolving as social media platforms introduce new features and communication methods. Advisors who establish robust compliance frameworks position themselves to adapt quickly to regulatory changes while maintaining effective client engagement strategies.
How Does FINRA Rule 2210 Apply to Social Media?
FINRA Rule 2210 classifies social media communications as either correspondence or retail communications, with different compliance obligations applying to each category. The classification depends on the intended audience size and distribution method, directly impacting supervision and approval requirements.
Communication Classifications:
- Correspondence: Communications to 25 or fewer retail investors within a 30-day period
- Retail Communications: Communications to more than 25 retail investors within a 30-day period
- Institutional Communications: Communications exclusively to institutional investors
Retail Communication: Any written or electronic communication distributed to more than 25 retail investors within any 30-day period, subject to principal approval before first use and content filing requirements with FINRA. FINRA Rule 2210 details
Social media posts typically qualify as retail communications due to their public nature and potential reach. This classification triggers several compliance requirements including principal pre-approval, content standards review, and potential filing with FINRA within 10 business days of first use.
Interactive features like comments, direct messages, and live streaming require additional consideration. While comments responding to specific client inquiries may qualify as correspondence, public responses visible to multiple users typically constitute retail communications requiring full compliance review.
What Are SEC Advertising Rules for Advisory Firms?
The SEC's Investment Adviser Act Rule 206(4)-1 establishes comprehensive advertising restrictions for registered investment advisors, with social media content falling under these advertising guidelines. The rule prohibits testimonials, past performance claims without proper context, and any statements that could be false or misleading to prospective clients.
In 2020, the SEC modernized its advertising rules to acknowledge digital marketing realities while maintaining investor protection standards. The updated framework allows greater flexibility for advisor communications while requiring enhanced substantiation and disclosure procedures.
Key SEC Advertising Restrictions:
- Prohibition on testimonials and endorsements without proper disclosure
- Restrictions on performance claims and hypothetical results
- Requirements for fair and balanced presentation of risks and benefits
- Disclosure obligations for conflicts of interest and compensation arrangements
- Substantiation requirements for all factual claims and statistics
The modernized rules recognize that advisors operate across multiple digital platforms and communication channels. However, they maintain strict standards for content accuracy, client protection, and regulatory transparency regardless of the communication medium or platform used.
How Do Pre-Approval Requirements Work?
Pre-approval requirements mandate that a qualified principal review and approve social media content before publication, ensuring compliance with regulatory standards and firm policies. The scope and timing of pre-approval obligations vary based on communication type, firm size, and regulatory jurisdiction.
FINRA-registered firms must have retail communications reviewed by a registered principal before first use, unless specific exceptions apply. These exceptions include certain educational materials, factual business information, and communications from experienced representatives with clean regulatory records operating under approved procedures.
Pre-Approval Process Components:
- Content review for accuracy, completeness, and regulatory compliance
- Risk assessment for potential client confusion or market impact
- Documentation of approval decisions and review rationale
- Version control for approved content and subsequent modifications
Many advisory firms implement technology solutions to streamline pre-approval workflows, allowing representatives to submit content for review through digital platforms with automated routing and approval tracking. These systems help maintain compliance while reducing administrative burden on both content creators and compliance personnel.
What Records Must Advisors Maintain?
Financial advisors must maintain comprehensive records of all social media activities, treating digital communications with the same record-keeping standards as traditional business correspondence. The SEC requires investment advisors to preserve records for five years, with the first two years in an easily accessible location.
Record-keeping obligations extend beyond published content to include draft materials, approval documentation, and interaction logs. This comprehensive approach ensures regulatory authorities can reconstruct the complete communication history during examinations or investigations.
Books and Records Rules: SEC regulations requiring investment advisors to maintain detailed records of all business communications, client interactions, and advisory activities for specified retention periods. SEC record-keeping guidance
Required Social Media Records:
- Original content posts with timestamps and platform identification
- Client comments, responses, and private message interactions
- Pre-approval documentation and principal review decisions
- Content modification logs and version histories
- Supervision procedures and compliance monitoring reports
- Training records for personnel using social media platforms
Technology solutions help advisors meet record-keeping requirements through automated archiving systems that capture social media content in real-time. These platforms often integrate with compliance management systems, creating comprehensive audit trails for regulatory examinations.
Which Platforms Require Different Compliance Approaches?
Different social media platforms present unique compliance challenges based on their functionality, audience characteristics, and communication features. LinkedIn, Twitter, Facebook, and emerging platforms each require tailored compliance strategies while maintaining consistent regulatory standards across all channels.
Professional networking platforms like LinkedIn typically allow more business-focused content but still require careful attention to testimonial restrictions and performance claims. Social platforms like Facebook and Instagram emphasize visual content and community engagement, requiring enhanced supervision of user-generated content and interactive features.
Platform-Specific Considerations:
LinkedIn:
- Professional networking focus allows business development content
- Recommendation features require testimonial compliance review
- Industry group participation needs supervision oversight
- Publishing platform subjects long-form content to advertising rules
Twitter/X:
- Character limits challenge comprehensive risk disclosure
- Real-time nature complicates pre-approval requirements
- Retweet functionality requires third-party content evaluation
- Twitter Spaces and live features need special procedures
Facebook/Instagram:
- Visual content requires compliance review for implied claims
- Community features generate user-generated content supervision needs
- Advertising tools trigger additional regulatory requirements
- Live video capabilities require real-time compliance monitoring
Agencies specializing in financial services marketing, such as WOLF Financial, develop platform-specific compliance procedures that account for each channel's unique features while maintaining consistent regulatory standards across all advisor communications.
How Should Advisors Handle Client Testimonials Online?
Client testimonials on social media require careful navigation of SEC and FINRA restrictions that generally prohibit investment advisors from using client endorsements in their advertising materials. However, the 2020 SEC rule modernization created limited pathways for testimonial use with appropriate disclosures and safeguards.
The updated SEC advertising rules allow testimonials if advisors implement specific disclosure requirements, compensation acknowledgments, and client selection procedures. These requirements aim to prevent advisors from cherry-picking positive reviews while hiding negative experiences or paying for favorable testimonials without disclosure.
Testimonial Compliance Requirements:
- Written agreements with clients providing testimonials
- Disclosure of any compensation or benefits provided
- Clear statements about the client's qualifications and experience
- Acknowledgment that testimonials may not be representative of all client experiences
- Procedures for handling unsolicited social media reviews and comments
Many advisors choose to avoid testimonials entirely due to the complex compliance requirements and potential regulatory risks. Alternative approaches include sharing educational content, industry insights, and general client success themes without specific client endorsements or detailed performance claims.
What About Third-Party Content and Sharing?
Sharing third-party content on social media platforms creates compliance obligations for financial advisors, as regulators generally hold advisors responsible for all content appearing on their business social media accounts. This includes retweets, shared articles, and third-party infographics that appear alongside advisor-generated content.
The regulatory principle of "adoption and entanglement" means that advisors who share external content may be deemed to have adopted those views as their own, particularly if they add commentary or endorsement language. This creates potential liability for inaccurate information, misleading claims, or non-compliant marketing messages in shared content.
Adoption and Entanglement: A regulatory doctrine holding financial professionals responsible for third-party content they share, distribute, or endorse through their business communications channels. FINRA guidance on social networking
Third-Party Content Best Practices:
- Review all shared content for accuracy and compliance before posting
- Avoid adding commentary that could be construed as investment advice
- Maintain approved source lists for educational and industry content
- Document the rationale for sharing specific third-party materials
- Monitor shared content for subsequent updates or corrections
Some advisory firms maintain approved content libraries with pre-reviewed articles, infographics, and educational materials that representatives can safely share without individual compliance review. This approach streamlines social media engagement while maintaining regulatory compliance standards.
How Do Mobile and Messaging Apps Factor Into Compliance?
Mobile messaging applications and text-based communication platforms are subject to the same regulatory requirements as traditional email and social media channels, despite their seemingly informal nature. WhatsApp, Signal, personal texting, and other mobile communication methods used for business purposes fall under advisor record-keeping and supervision obligations.
The challenge with mobile communications lies in their integration with personal devices and accounts, making it difficult to separate business and personal use. Regulatory authorities expect advisors to maintain clear boundaries and comprehensive records regardless of the communication platform or device used.
Mobile Communication Compliance Requirements:
- Business use policies for personal mobile devices and applications
- Record retention systems for text messages and app-based communications
- Clear disclosure of business communication channels to clients
- Supervision procedures for real-time mobile interactions
- Data security measures for sensitive client information on mobile platforms
Many advisory firms provide business mobile devices or require specific applications that automatically archive communications for compliance purposes. These technology solutions help maintain regulatory compliance while allowing advisors the flexibility to communicate with clients through preferred mobile channels.
What Training Do Advisory Staff Need?
Comprehensive social media training for advisory staff must cover both regulatory requirements and practical implementation procedures, ensuring that all personnel understand their compliance obligations before engaging in business-related social media activities. Training programs should address platform-specific rules, escalation procedures, and ongoing supervision requirements.
Effective training programs combine regulatory education with practical scenarios, helping staff understand how compliance principles apply to real-world social media situations. This includes recognition of potential compliance issues, proper escalation procedures, and documentation requirements for various types of social media interactions.
Essential Training Components:
- Overview of SEC and FINRA social media regulations
- Platform-specific compliance requirements and restrictions
- Pre-approval procedures and content submission processes
- Record-keeping obligations and archiving procedures
- Incident response protocols for compliance violations
- Annual updates on regulatory changes and industry guidance
Training effectiveness improves through regular refresher sessions, scenario-based exercises, and testing procedures that verify staff understanding of key compliance concepts. Many firms conduct quarterly social media compliance reviews to reinforce training concepts and address emerging regulatory issues.
How Should Firms Monitor Social Media Activity?
Ongoing monitoring of social media activity requires systematic surveillance procedures that can identify potential compliance issues before they escalate into regulatory violations. Effective monitoring combines automated technology solutions with human oversight to capture the full scope of advisor social media activities.
Monitoring systems must account for both firm-sponsored social media accounts and personal accounts used for business purposes by registered representatives. This comprehensive approach ensures that supervisory personnel can identify and address compliance issues regardless of where they occur in the firm's social media presence.
Social Media Monitoring Framework:
- Automated content scanning for prohibited terms and claims
- Regular review of posted content and client interactions
- Alert systems for high-risk communications or platform violations
- Periodic audits of social media policies and procedures
- Integration with broader compliance surveillance systems
Technology vendors offer specialized social media monitoring platforms designed for financial services firms, providing automated surveillance capabilities alongside manual review workflows. These systems help compliance personnel manage large volumes of social media content while maintaining focus on high-risk activities and potential violations.
Institutional brands often partner with specialized agencies like WOLF Financial that maintain comprehensive social media monitoring capabilities and provide ongoing compliance oversight for complex creator network campaigns and institutional marketing initiatives.
What Are Common Social Media Compliance Violations?
Common social media compliance violations among financial advisors typically involve testimonials, performance claims, and supervision failures that reflect broader challenges in adapting traditional regulatory frameworks to digital communication platforms. Understanding these frequent violations helps advisors implement more effective compliance procedures and avoid regulatory penalties.
Performance-related violations represent the largest category of social media compliance issues, often involving advisors who share client success stories, portfolio performance data, or hypothetical investment scenarios without proper context and risk disclosures. These violations frequently result from advisors' desire to demonstrate their expertise while failing to meet regulatory disclosure requirements.
Most Frequent Violation Categories:
Performance Claims:
- Sharing client portfolio results without appropriate disclaimers
- Posting hypothetical investment scenarios without risk disclosures
- Making comparative claims about investment strategies or returns
Testimonials and Endorsements:
- Encouraging client reviews without proper compliance procedures
- Failing to disclose compensation for social media endorsements
- Using client success stories without required acknowledgments
Supervision Failures:
- Posting content without required principal approval
- Inadequate record-keeping for social media interactions
- Insufficient monitoring of representative social media activities
Prevention strategies focus on enhanced training, improved supervision procedures, and technology solutions that can identify potential violations before they occur. Firms with strong compliance cultures tend to experience fewer violations through proactive risk management and ongoing education initiatives.
How Do Compliance Requirements Vary by Firm Size?
Compliance requirements for social media vary significantly based on firm size, regulatory jurisdiction, and business model, with smaller advisory firms often subject to different oversight mechanisms than larger institutional organizations. State-registered advisors typically operate under less prescriptive social media rules than SEC-registered firms, though basic advertising and record-keeping requirements apply universally.
Smaller advisory firms may have more flexibility in their compliance procedures but often lack the resources to implement sophisticated monitoring and approval systems. These firms typically rely on simpler processes with greater principal involvement in day-to-day social media oversight and approval decisions.
Compliance Variations by Firm Type:
Small RIAs (Under $100M AUM):
- State registration with less prescriptive social media guidance
- Principal-based approval systems without formal committees
- Simplified record-keeping with basic archiving requirements
- Limited staffing requiring multi-role compliance responsibilities
Mid-Size RIAs ($100M - $1B AUM):
- SEC registration with comprehensive advertising rule compliance
- Formal compliance procedures with designated oversight personnel
- Technology-assisted monitoring and record-keeping systems
- Specialized training programs for social media activities
Large RIAs/Institutions (Over $1B AUM):
- Complex compliance frameworks with multiple oversight layers
- Dedicated compliance teams with social media specialists
- Advanced technology platforms for monitoring and surveillance
- Integration with enterprise risk management systems
Regardless of size, all advisory firms must maintain adequate supervision and compliance procedures appropriate to their social media activities and business model. Regulatory authorities expect compliance programs that match the firm's complexity and risk profile.
What Technology Solutions Support Compliance?
Technology solutions for social media compliance range from basic archiving tools to comprehensive platforms that integrate content approval, monitoring, and record-keeping functions. Effective compliance technology should streamline regulatory obligations while enabling advisors to maintain active and engaging social media presences.
Modern compliance platforms offer cloud-based solutions that can capture content across multiple social media platforms, route materials for approval, and maintain searchable archives for regulatory examinations. These systems often integrate with existing compliance management platforms and customer relationship management systems.
Core Technology Features:
- Multi-platform content archiving with automated capture capabilities
- Workflow management for content approval and review processes
- Keyword and risk-based monitoring with automated alert systems
- Audit trail maintenance with comprehensive documentation
- Integration capabilities with existing compliance and CRM systems
- Mobile compatibility for real-time compliance management
Social Media Archiving: Technology systems that automatically capture, store, and index social media content and interactions for regulatory compliance and examination purposes. SEC guidance on electronic recordkeeping
Specialized agencies with deep regulatory expertise, such as WOLF Financial, often provide technology-enabled compliance solutions alongside creator network management, ensuring that institutional social media campaigns meet regulatory requirements while achieving marketing objectives.
Implementation considerations include data security requirements, integration complexity, user adoption challenges, and ongoing maintenance needs. Successful deployments typically involve phased rollouts with comprehensive training and ongoing technical support for compliance and advisory personnel.
Frequently Asked Questions
Basics
1. What qualifies as social media for compliance purposes?
Social media for compliance purposes includes any digital platform where advisors can publish content, interact with clients, or conduct business communications. This encompasses traditional platforms like LinkedIn, Twitter, and Facebook, as well as messaging apps, video platforms, and emerging social technologies.
2. Do personal social media accounts require compliance oversight?
Personal social media accounts require compliance oversight when used for business purposes or when the account holder can be identified as associated with an advisory firm. Many firms require disclosure and monitoring of personal accounts that mention business activities or professional credentials.
3. How often should compliance policies be updated?
Social media compliance policies should be reviewed and updated annually, with immediate updates required when regulatory guidance changes or new platforms are adopted for business use. Regular reviews help ensure policies remain current with evolving technology and regulatory expectations.
4. What constitutes a compliance violation on social media?
Compliance violations include posting without required approvals, making unsubstantiated performance claims, using client testimonials without proper disclosures, failing to maintain adequate records, or sharing misleading information about investment strategies or market conditions.
5. Are there safe harbor provisions for social media compliance?
No specific safe harbor provisions exist for social media compliance, though advisors who maintain comprehensive policies, proper supervision, and good faith compliance efforts typically receive more favorable regulatory treatment when violations occur.
How-To
6. How should advisors handle negative comments or reviews?
Negative comments should be addressed professionally and promptly, with responses reviewed for compliance before posting. Advisors should avoid detailed rebuttals that could disclose confidential client information and instead offer to discuss concerns privately through appropriate business channels.
7. What's the best way to archive social media content?
The most effective approach combines automated archiving technology with manual documentation procedures. Technology solutions should capture content in real-time across all platforms, while manual procedures ensure important context and decision rationale are preserved for regulatory review.
8. How can small firms implement cost-effective compliance procedures?
Small firms can implement effective compliance through simplified approval workflows, cloud-based archiving solutions, and outsourced monitoring services. Focus on essential compliance elements rather than complex systems designed for larger organizations with greater resources and regulatory complexity.
9. What should be included in social media compliance training?
Training should cover regulatory requirements, platform-specific rules, approval procedures, record-keeping obligations, and practical scenarios. Include regular updates on regulatory changes and require documentation of training completion for all personnel engaging in social media activities.
10. How should firms respond to regulatory examinations involving social media?
Prepare organized documentation of policies, training records, and archived content. Assign knowledgeable personnel to interface with examiners and ensure quick access to requested materials. Consider engaging compliance consultants for complex examinations or significant findings.
Comparison
11. What's the difference between correspondence and retail communications on social media?
Correspondence reaches 25 or fewer retail investors within 30 days and requires post-use supervision. Retail communications reach more than 25 retail investors and require principal pre-approval plus potential FINRA filing. Most social media posts qualify as retail communications due to their public nature.
12. How do state vs. federal compliance requirements compare?
Federal requirements (SEC/FINRA) are generally more prescriptive and comprehensive, while state requirements vary by jurisdiction but typically focus on basic advertising standards and fiduciary obligations. Firms must comply with the most restrictive applicable requirements.
13. Which is better: in-house compliance or outsourced monitoring?
In-house compliance provides greater control and integration with business operations, while outsourced monitoring offers specialized expertise and cost efficiency for smaller firms. The best approach depends on firm size, complexity, and available resources for compliance management.
14. How do mobile apps compare to traditional social media for compliance?
Mobile apps used for business communications carry the same regulatory requirements as traditional social media platforms. The key difference lies in record-keeping challenges and the integration of business and personal communications on mobile devices.
15. What's the difference between testimonials and client stories?
Testimonials are specific client endorsements subject to strict disclosure requirements under SEC rules. Client stories can be shared as educational content if properly anonymized and focused on general concepts rather than specific investment advice or performance results.
Troubleshooting
16. What should advisors do if they accidentally post non-compliant content?
Remove the content immediately, document the violation and remedial action taken, notify compliance personnel, and review procedures to prevent similar occurrences. Consider whether client notifications or regulatory disclosure is required based on the nature and scope of the violation.
17. How should firms handle employees who resist compliance procedures?
Address resistance through enhanced training, clear consequences for non-compliance, and technology solutions that simplify compliance processes. Consider restricting social media privileges for employees who consistently fail to follow established procedures.
18. What if a client posts confidential information in public comments?
Request immediate removal of the confidential information, document the incident, and consider additional client education about confidentiality and appropriate communication channels. Review whether the firm's response procedures adequately address client-initiated disclosure issues.
19. How do advisors handle compliance across multiple platforms simultaneously?
Implement unified compliance procedures that apply consistently across all platforms, use technology solutions that can monitor multiple channels simultaneously, and ensure adequate staffing for comprehensive oversight of multi-platform social media activities.
Advanced
20. How do international advisors handle cross-border compliance issues?
International advisors must comply with regulations in all jurisdictions where they operate or have clients. This typically requires adherence to the most restrictive applicable requirements and may necessitate separate social media strategies for different geographic markets.
21. What special considerations apply to live streaming and real-time content?
Live content requires pre-approved talking points, real-time monitoring capabilities, and procedures for addressing compliance issues during broadcasts. Consider record-keeping challenges and the difficulty of implementing traditional pre-approval processes for spontaneous interactions.
22. How should advisors handle AI-generated content for social media?
AI-generated content requires the same compliance review as human-created materials, with additional consideration for accuracy verification and disclosure of AI assistance. Advisors remain responsible for all content posted under their names regardless of the creation method.
23. What compliance issues arise with social media advertising and paid promotion?
Paid social media promotion triggers additional advertising regulations, requiring enhanced disclosures, performance substantiation, and potentially FINRA filing requirements. Consider target audience qualifications and ensure advertising content meets heightened scrutiny standards.
Compliance/Risk
24. What are the potential penalties for social media compliance violations?
Penalties range from warning letters and corrective action requirements to monetary fines, business restrictions, and registration revocations. The severity depends on the violation type, firm history, and impact on clients or market integrity.
25. How do cybersecurity requirements intersect with social media compliance?
Social media activities must comply with data protection and cybersecurity requirements, including secure handling of client information, authentication procedures for business accounts, and incident response protocols for potential security breaches through social platforms.
Building a Sustainable Social Media Compliance Framework
Effective social media compliance for financial advisors requires balancing regulatory adherence with meaningful client engagement through digital platforms. The framework must be comprehensive enough to address all regulatory requirements while remaining practical for day-to-day implementation by advisory staff with varying levels of compliance expertise.
The most successful compliance programs integrate technology solutions with human oversight, creating systematic processes that can identify and address potential violations before they occur. This proactive approach helps advisory firms maintain active social media presences while minimizing regulatory risks and examination findings.
When evaluating social media compliance needs, consider your firm's size and complexity, current technology infrastructure, staff expertise levels, and risk tolerance for regulatory examination findings. Smaller firms may benefit from simplified procedures and outsourced monitoring, while larger organizations typically require comprehensive internal programs with dedicated compliance personnel.
For financial advisory firms seeking to develop compliant social media strategies that drive client engagement while meeting all regulatory requirements, explore how WOLF Financial combines deep compliance expertise with proven digital marketing capabilities.
References
- Securities and Exchange Commission. "Investment Adviser Marketing Rule." Federal Register, 2020. https://www.sec.gov/rules/final/2020/ia-5653.pdf
- Financial Industry Regulatory Authority. "FINRA Rule 2210 - Communications with the Public." FINRA Rulebook. https://www.finra.org/rules-guidance/rulebooks/finra-rules/2210
- Securities and Exchange Commission. "Books and Records Requirements for Investment Advisers." SEC Investment Adviser Regulation, 2019. https://www.sec.gov/investment/investment-advisers/books-and-records-requirements-for-investment-advisers
- Financial Industry Regulatory Authority. "Social Networking Websites and the Use of Personal Devices for Business Communications." Regulatory Notice 17-18, 2017. https://www.finra.org/rules-guidance/notices/17-18
- Securities and Exchange Commission. "Investment Adviser Act Rule 206(4)-1." Code of Federal Regulations. https://www.ecfr.gov/current/title-17/chapter-II/part-275/section-275.206_4_-1
- Financial Industry Regulatory Authority. "Guidance on Social Networking Websites." Report on Social Media and Digital Communications, 2012. https://www.finra.org/rules-guidance/guidance/reports/2012-regulatory-and-examination-priorities-letter
- Securities and Exchange Commission. "Electronic Storage of Investment Adviser Records." SEC Staff Guidance, 2019. https://www.sec.gov/files/rules/final/2019/ia-5407.pdf
- Financial Industry Regulatory Authority. "Technology and Social Media." FINRA Annual Report, 2023. https://www.finra.org/about/annual-reports
- Securities and Exchange Commission. "Registered Investment Adviser Compliance." SEC Division of Investment Management, 2023. https://www.sec.gov/investment/investment-advisers
- Financial Industry Regulatory Authority. "Communications and Technology." Examination Program Priorities, 2024. https://www.finra.org/rules-guidance/guidance/reports/2024-annual-risk-monitoring-and-examination-priorities-letter
Important Disclaimers
Disclaimer: Educational information only. Not financial, legal, medical, or tax advice.
Risk Warnings: All investments carry risk, including loss of principal. Past performance is not indicative of future results.
Conflicts of Interest: This article may contain affiliate links; see our disclosures.
Publication Information: Published: 2024 · Last updated: 2024-11-03T00:00:00Z
About the Author
Author: Gav Blaxberg, Founder, WOLF Financial
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