Social networks have become one of the most dominant forces in marketing in the last decade. While it may still be a powerful tool, issues in compliance deter asset managers from using it. However, recent years have seen many asset managers reiterate their stance on the use of social media. Asset managers and financial institutions are looking for tools and platforms that will help them use social media effectively while staying compliant. Here is a closer look at social media compliance tools that have garnered the interest of asset managers:
- Actiance Socialite
Actiance has a history of developing innovative technologies to meet the needs of its customers. Actiance Socialite is a rather interesting tool that has turned the heads of asset managers. It enables asset managers to share information on the companys social media page while staying compliant. The built-in security features ensure each post is both compliant and secure.
2. RegEd Arkovi
The Financial Conduct Authority (FCA) requires companies which use social media networks to archive their posts, tweets, and uploads. For asset managers, the responsibility of ensuring archiving falls on them. From Twitter to Facebook, and every social network in between, Arkovi gives asset mangers the ability to archive literally every social media post ever made. With such features, they will be able to ensure compliance.
HootSuite may not be the most popular social media compliance tool but it is rapidly becoming popular. Considering the fact that the software offers isolation of regular and social media tools and workspace, the popularity of this software is no mystery. HootSuite enables asset managers to use only one software to access multiple social platforms. However, its not just simple access which has garnered it significant success. HootSuite offers a range of tools which allow you to create guidelines and policies for your social media account. It also offers a simulator that lets you fathom, visualize, and develop social media scenarios, positive and worst case, and show asset managers how they can react to them.
For asset managers trying to find tools to help with their compliance efforts, the above 3 tools are spectacular. While each may have a different function, they work together as social media compliance tools to ensure you can utilize social media networks effectively. While there may still be reluctance within the industry, it will not be long until reservations turn into reasons and more asset managers will start using them.
Chris Turner is a versatile content writer with a passion for technology, finance, Investing and trading. He writes extensively on the subjects of Trading, Investing, Bitcoin, Forex trading, investing and general finance. He is writing and providing advice, education and encouragement to budding investors and traders, on Hedge Fund and alternative investments and other emerging financial trends. He is a contributor writer for HedgeThink.com and TradersDNA.com.