U.S. asset managers in the dark on social media

Vancouver-based Canccord Genuity Wealth Management Canada has announced that it will use Vancouver-based Hootsuite Media Inc.’s social media platform, making it possible for the firm’s investment advisors to engage in real-time interactive conversations with clients and investors on social media.

Hootsuite’s platform is designed to ensure compliance with Canadian regulatory requirements and securities legislation. It will allow Canaccord to ensure its advisors’ communications are compliant with all supervision and retention requirements.

“We’ve long seen online engagement as a tremendous opportunity,” says Stuart Raftus, Canaccord’s president, in a statement. “The challenge has been how to be responsive in real time while remaining compliant. We are confident that this initiative satisfies that goal.”

“This technology gives our advisors the confidence to deepen relationships and grow their networks online by connecting, listening and engaging [with clients], knowing that the technology manages any compliance and regulatory concerns,” adds Alley Adams, manager of digital strategy with Canaccord, in a statement.

Hootsuite’s platform helps financial services organizations execute compliant business strategies for social media. The platform also supports an ecosystem of more than 250 technology integrations, allowing financial services firms to extend social media into existing systems, workflow and programs.

“The financial services industry is based on trust and rooted in strong relationships. In today’s digital world, relationships are forged and nurtured on social media,” says Amy McIlwain, global principal of financial services with Hootsuite, in a statement. “Canaccord recognized this shift in communication and is embracing social media as a way to connect with clients.”

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