Advisers too concerned to engage with social media


Kaplan Professional has teamed up with Red Maker in developing a solution to help financial advisers share digital content, following the response to a Midwinter/Jenesis survey showing close to 50 per cent feared risk of reputation from engaging with social media.
Termed ‘Artemis,’ the solution would identify risk across multiple media types including Word Documents, PDFs, and web pages, and could also review social posts before publication to ensure their compliance.
Kaplan Professional chief executive, Brian Knight, said advisers should feel confident in communicating across social and digital media and be well-equipped to embrace digital communication.
“Digital is the way forward – advisers who are able to harness the full potential of these integral communication channels have increased capacity to market services, promote their brand, connect to current clients, and foster new business,” he said.
“Unfortunately, recent research has suggested compliance fears and reputational risk are limiting its use amongst advisers.”
Knight said limited experience had left some advisers behind and that concerns associated with compliance had been considered in the development of Artemis, which would identify social content that was a breach of corporations law or regulation guidelines.
“There is a lack of adequate education, highlighting a serious knowledge gap when it comes to engaging clients online,” he said.
“Artemis not only minimises the risk of publishing misleading content, it actively educates advisers through real-time feedback, just-in-time learning interventions, and professional development opportunities.
“I am confident it will help alleviate the perceived compliance fears and difficulty associated with digital and social media.”
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.