Social marketing platform Hearsay Social announced that it has entered into a strategic partnership with the Securities Industry and Financial Markets Association, a platform to bring together the shared interests of hundreds of securities firms, banks and asset managers. The partnership will enable regulatory compliance and business return-on-investment solutions for financial firms on LinkedIn, Facebook, Twitter, and Google+

SIFMA's partnership with Hearsay Social will provide more financial training opportunities, greater advocacy with leading social network providers, as well as more insight into available technology solutions.

“The wealth of client information and engagement opportunities on social networking sites is transformational for financial services in the same way Internet and email were last decade,” said Hearsay Social CEO Clara Shih. “As an industry, we have only begun to scratch the surface of what is possible. Our alliance with SIFMA empowers firms with the proper systems, knowledge, and peace of mind to confidently embrace the incredible upside of social media while mitigating risk.”

The Hearsay Social platform empowers investment advisor and broker-dealer firms to build brand, grow client relationships, and garner referrals across all the major social networking sites while achieving regulatory compliance. The new partnership between SIFMA and Hearsay Social will facilitate additional training opportunities, greater advocacy with leading social network providers, and more insight into available technology solutions, including Hearsay Social Rogue Page Finder, enterprise single sign-on, compliant content publishing, surveillance capabilities, and more.

“With FINRA issuing its first social media fine last year, our partnership with SIFMA could not be more timely,” said Alexandra Russell, chief compliance officer at Hearsay Social. “Social media will only grow in importance in 2012 and beyond. Firms need to be prepared for the continual inevitable changes in both the technology and regulatory landscape.”