The knowledge: Social media

Social media is an essential part of business, but how can it be best used and what are the potential pitfalls to guard against? Sandra Garlick, a partner at Askews Legal who specialises in social media and the law, gives some advice

  1. Be compliant

    Your regulatory body has strict rules regarding advice that can be given in various forms of marketing. Care should be taken not to share information that could be construed as ‘advice’ in your social media posts. It is better to provide a web link to your website or a reliable source when sharing information.

  2. Be human

    People buy from people. There is a significant element of trust in the work that you do. When setting up your profile, you may wish to share where you studied, where you are located or what your particular hobbies or interests are. However, keep detailed personal information secure to prevent identity theft.

  3. Be prepared

    It is wise to plan and document your social media strategy. Who is your customer? Where are they likely to be? How are you going to reach them? Why are you engaging with them? Finally, what are you going to say? Check the spelling and accuracy of content carefully.

  4. Be careful

    Take care not to share too much detail about you or your company. If in doubt, bounce your idea off a colleague and ensure you comply with company Data Protection, Confidentiality and Intellectual Property policies.

  5. Be aware

    Stand out for the right reasons. Monitor your social media posts to ensure that you are not damaging either your personal or company reputation. Sandra has given presentations about social media for business to several CISI branches in the UK.

Sandra Garlick is partner at Askews Legal who specialises in social media and the law. She is a regular speaker for the CISI at member only CPD events on the topic of social media.

Published: 09 Mar 2015
  • Compliance, Regulation & Risk
  • Wealth Management
  • Islamic Finance
  • Integrity & Ethics
  • Financial Planning
  • Capital Markets & Corporate Finance
  • The Review
  • People
  • Opinion

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