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Advisors' social media practices fall short in Mass.

Investment advisors in the Bay State aren’t exactly social media savvy when it comes to communicating with their clients. So the state of Massachusetts is stepping in by planning to issue new guidelines and best practices standards in the next year.

By Kathryn Mayer | Updated on July 29, 2011

Investment advisors in the Bay State aren’t exactly social media savvy when it comes to communicating with their clients. So the state of Massachusetts is stepping in by issuing new guidelines and best practices standards in the next year.

A survey conducted by the Securities Division of the State Secretary of Massachusetts shows of the 44 percent of investment advisors in the state using social media platforms to communicate with their clients, only 30 percent have written record retention policies for social media content and only 4 in 10 retain all online content posted by the firm.

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