National Planning Chooses Erado for Social Networking Compliance

 

Erado will provide social media compliance services for National Planning Holdings Inc. (NPH), an independent broker-dealer network. NPH is expected to roll-out social media capabilities to more than 3,500 affiliated representatives by fall 2011, according to Erado.

Upon implementation of Erado’s technology suite, NPH will allow its representatives to leverage the interactive social networks of LinkedIn, Facebook and Twitter to communicate with clients and establish innovative business development programs. Erado says its technology will assist NPH in monitoring, tracking and archiving its representatives’ social media activity for compliance purposes.

The agreement with Erado covers each of the four broker-dealers in the NPH network: INVEST Financial Corp., Investment Centers of America Inc., National Planning Corp., and SII Investments Inc., Erado notes.

“Clearly, social media has reached critical mass and is becoming an increasingly important communication tool for financial advisers,” said Jim Livingston, president and CEO of National Planning Holdings. “However, managing the compliance implications of social media activity has been a challenge, and our relationship with Erado will help us address these issues head on.”

 

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