National Planning Holdings (NPH), the Santa Monica, Calif.-based, national independent broker dealer affiliate of Jackson National Life Insurance Company (Lansing, Mich.) has engaged Renton, Wash.-based Erado to provide social media compliance services. NPH plans to roll out social media capabilities to more than 3,500 affiliated representatives by fall 2011.
With Erado's technology suite in place, NPH will allow its representatives to participate in LinkedIn, Facebook and Twitter in order to communicate with clients and establish what an NPH statement calls innovative business programs. Erado's technology will assist NPH in monitoring, tracking and archiving its representatives' social media activity for compliance purposes.
NPH's agreement with Erado covers all four broker/dealers in the NPH network: INVEST Financial Corporation; Investment Centers of America, Inc.; National Planning Corporation, and SII Investments, Inc.
"Clearly, social media has reached critical mass and is becoming an increasingly important communication tool for financial advisers," comments Jim Livingston, president and CEO, NPH. "However, managing the compliance implications of social media activity has been a challenge, and our relationship with Erado will help us to address these issues head-on. NPH has a history of technology innovation and remains committed to helping our representatives utilize the latest resources available to build their businesses."