How About Joining The Conversation In Progress?

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One of the recurring discussions I have with asset managers is about the top dog role that they envision for themselves in social interactions. Some want to send the tweets that get re-tweeted but give short-shrift to the importance of reading let alone re-tweeting others’ tweets. Some want to form the go-to LinkedIn group without joining any groups of their own. If there’s going to be a discussion online, some think they should start, lead, control or sponsor it.

No doubt, part of this thinking is shaped by uncertainty surrounding what FINRA or the SEC or their Compliance function will allow them to do. But part of it is also driven by the ego that drives all brands. Brands became accustomed to calling all the shots in Web 1.0. In the early days, only brands had the resources to establish domains and use them to communicate with sizable “audiences” online.

But, that was very much then.
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5 Asset Manager-Relevant Social Resources 4 U On V Day

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For my valentine to you this year, I thought I’d call your attention to five asset management industry-relevant social resources. It would break my heart if you missed these just because your workplace blocks you from discovering social sites while on your work computer. These are worth checking out on your own time.
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"Astonishing" Advisor Research Suggests Necessary Changes To Mutual Fund/ETF Communications

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I was so eager to get at the recent Advisor Perspectives/Inside Information research that I read the complete 65-page report on my 4-inch phone while sitting out in a cold car waiting for a Realtor to show my house over the weekend.

The conditions notwithstanding, I thoroughly enjoyed myself. “Investment Trends in the Financial Advisory Profession: Key Implications for the Investment Management Industry” lives up to its promotional email.

Authors Bob Veres (Inside Information) and Robert Huebscher (CEO of Advisor Perspectives) wrote a page-turner filled with some provocative ideas for mutual fund and ETF marketers focusing on the elusive RIA channel.
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C’mon And Check Out Google+ on Friday, #GDay

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Don’t you just love it when the people mobilize? Lately, we’ve seen the power of the people with the OccupyWallStreet protests, the Verizon customers and supporters forcing Verizon to withdraw plans to charge a $2 fee...and then there was today.

Today was an awesome demonstration of community organization at work. I spent most of the day online, including doing research. Sure, it was an inconvenience landing on sites that were on strike in protest of SOPA (Stop Online Privacy) and PIPA (Protect IP), two provocative bills pending in the Congress. But God love them, they’re supporting what they believe in.

(Oh and me, too, I signed the petition and let my congressmen know that I oppose censorship and regulation that would threaten innovation on the Web. I’ve been following this discussion a while and I don’t see any good that can come of this legislation for users of the Internet.)
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Ameriprise Taps LinkedIn Connections To Make Advisor Referrals

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Six months ago, I wrote a post about companies that are sharing their business data via APIs, and the insights that result when others work with those APIs. In the last few weeks, Ameriprise Financial has unveiled a reverse of that—their financial advisor search engine now uses the LinkedIn API to enable prospective clients to tap their social networks as a means of surfacing an Ameriprise financial advisor.

Ah, here’s where this social data stuff gets interesting.

How do investors typically look for financial advisors? Offline, they ask their family and friends for referrals. Online, they have probably used search engines or advisor-finder services. By introducing a search via LinkedIn, Ameriprise is acknowledging what lots of consumer research is pointing to—the increasing influence of and trust in social networks and recommendations. This may be a next-gen way of vetting an advisor.
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