The Friedman Group, LLC Warns Financial Advisors About LinkedIn Endorsements

LinkedIn's new Endorsement feature, on its surface seems harmless, even flattering. But to the Financial Advisor and his/her Compliance Department it is something that must be monitored and dealt with swiftly.

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Brad Friedman

LinkedIn has spent a significant amount of time and money getting financial advisors active on the network. I wonder if they gave enough thought to the ramifications this feature has on those LinkedIn users who are regulated by the SEC and FINRA.

Denver, Colorado (PRWEB) November 22, 2012

“With the roll-out of LinkedIn’s new Endorsement feature, Financial Advisors and their Compliance Departments have new issue to handle,” said Brad Friedman, president of The Friedman Group, LLC, an inbound and social media marketing firm headquartered in Denver, Colorado. “LinkedIn has spent a significant amount of time and money getting financial advisors active on the network. They clearly value the financial advisor community. I wonder if they gave enough thought to the ramifications this feature is having on those LinkedIn users who are regulated by the SEC and FINRA.”

Several weeks ago LinkedIn launched its new Endorsement feature. This new feature allows people connected with you on LinkedIn to “endorse” various skills and expertise you have listed on your LinkedIn profile. These same connected people may also endorse you for skills and expertise you don’t have listed. In that case, you have to approve the endorsement and agree to have the new skill or expertise appear on your profile. This sounds pretty harmless, even flattering.

But not to the financial advisor, warns Friedman. “It’s pretty simple,” he says. “The SEC and FINRA prohibit testimonials and these endorsements are going to be considered testimonials, so financial advisors can’t allow them to appear on their LinkedIn profiles.” In order to provide detailed information on the new feature as well as some ideas about how to deal with the endorsements financial advisors are bound to receive, Mr. Friedman published a blog post outlining his thoughts on the matter.

The Friedman Group is also available to assist companies and individuals in developing a strategy and implementation of plans to handle the roll-out of this new LinkedIn feature.

About The Friedman Group, LLC

The Friedman Group, LLC works to enhance the online image of Attorneys, CPAs, Financial Services Providers, Doctors, Dentists, Business Owners and other Professionals. We offer Inbound and Social Media Marketing specifically tailored to the needs of these professionals and businesses. We assist by first developing a strategy to generate leads and engage clients, prospects and referral sources through the power of social media to grow your business. For more information, please visit our website at http://friedmansocialmedia.com or call us at 720-248-8185. You can also join us socially on Twitter @bradfriedman, on Facebook at http://facebook.com/TheFriedmanGroup, or on LinkedIn http://linkedin.com/in/bfriedman.


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