Selby explained the typical progression from prohibition. It starts with executive commitment, then leading to evaluation, policy, procedures, training, activation and finally optimization.
He said, "Although (social media regulation) is still relatively unsettled, we do know that all the old rules still apply: Don't lie, don't cheat, and don't steal." A simple way of looking at an ever confusing compliance environment.
Mike Byrnes founded Byrnes Consulting to provide consulting services to help advisors become even more successful. His expertise is in business planning, marketing strategy, business development, client service and management effectiveness, along with several other areas. Read more at www.byrnesconsulting.com or by typing in his last name in the search field on www.fa-mag.com.