The law is very clear regarding social media and advice…
FAIS governs the suitability of Advice on social media. Social media is simply never the place for Advice. There is no way that you can have insight into a person’s full set of financial circumstances after a couple of posts. Even more dangerously, any advice you post could be shared, shared and shared again.
And if you share an investment strategy from one of your suppliers, you need to be prepared to stand behind it as your own. For instance, you could be sued for loss if one of your Facebook friends used the strategy and lost money.
Speaking of FAIS, remember that it also regulates the timing of marketing communication. There’s no way you can time information that is spread organically across social media platforms, but if you’re paying for it, remember to stick to office hours.
If in doubt, do get professional help. We’re a group of CFPs, right-brained creatives who know the financial services industry backward. Email firstname.lastname@example.org for a savvy financial social media strategy.