Social Media is Enabled at Summit

Social media marketing is a valuable component to any integrated marketing strategy, and Summit has streamlined the archiving implementation for its advisors. Many of our independent advisors have their own websites, and social networking sites are another way for these advisors to drive traffic to their sites.

Summit Brokerage Services recently signed on with software provider Erado to launch interactive social media initiatives for our financial advisors. Erado will allow Summit’s advisors to post interactive content to Facebook, Twitter, and LinkedIn while remaining compliant with Summit and industry requirements.

“Summit Brokerage Services, with over 300 advisors, decided to take the leap into social media to be competitive in the marketplace,” said Thomas Terpko, executive vice president of technology. “Firms are using social media as another needed step to serve existing clients and obtain new ones,” said Vincent Chiera, executive vice president and chief administrative officer. Chiera said the firm wanted to stay ahead of the curve or at least in lockstep with other firms in the industry with offering social media to its advisors.

With Erado’s technology, we are able to monitor, track and archive our advisors’ social media activity, in compliance with FINRA’s social media rules. In early 2010, FINRA issued social media guidance that said all b/d member firms should have a system in place for tracking and archiving social media communications.

About Summit Brokerage Services, Inc.
Summit Brokerage Services, Inc. is a Florida-based financial services company that provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.