Tags: broker-dealers | client communications | compliance | marketing | Social Media

Actiance, a social media compliance company today announced release of its Socialite Engage app for financial advisors. Hype psrings from the page of its press release.

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A marketing executive from Raymond James is quoted in the Actiance press release saying 1,200 advisors were using social media within three weeks. We have no idea which division of Raymond James is using the Actiance system. For that matter, the release does not actually say RJ's 1,200 advisors are using Actiance's system.

In an example of how social media is being hyped to advisors, the press release says Actiance Socialite Engage will "ensure authenticity of voice" by providing advisors content. Details about how Actiance ensures the authenticity of your voice are scant, however, other than to say Actiance is providing canned content with its Socialite Engage compiance and metrics system for broker-dealers.

The list of features is impressive, however:

Other features and functionality of Socialite Engage include:

• An aggregated news feed from Facebook, LinkedIn and Twitter
• Find and establish key connections and tailor your activities to match theirs
• Share pre-approved library and/or tailored content to provide authenticity of voice
• Leverage crowdsourced content across teams to improve interaction
• Full integration with compliance controls for content, feature access and record keeping
• Advanced analytics show engagement, trends and social graph growth
• Central content creators can use gamification tools to drive adoption and aggregate results from distributed team usage

Actiance is one of a group of social media compliance vendors being adopted by independent BDs in recent months. Others include Socialware, Heresay, and Erado.

They are all interested in scaling their systems for BDs. RIAs and IA reps are an afterthought because their systems are made to suit the needs of enterprises with hundreds or thousands of advisors.