Morgan Stanley Smith Barney plans to give its 17,000 financial advisers partial access to Twitter and LinkedIn over the next several months. It will join Goldman Sachs and Blackstone Group, who both tweet news about their firms. Lauren W. Boyman, Morgan Stanley’s head of social media, told Deal Book that using Twitter and LinkedIn has helped financial advisers gain more business over the past year.
However, this new social media presence will lack the spontaneity and personality of most users. To stay in compliance with securities regulations, financial advisers will continue to draw from a prewritten library of Twitter messages and submit all LinkedIn postings for approval, using software designed by Socialware.
Deal Book (NYTimes.com)