Compliance and Vestorly

“Compliance” involves many topics and instances and is not always black and white. Let’s simplify it – we’ve identified the compliance issues at stake when using Vestorly, and how to address them.

TESTIMONIALS

The Issue: Financial advisors cannot ask for, share, or encourage testimonials. 

Vestorly generates leads and referrals in a way that bypasses testimonials. We provide the tools you need to share the content you choose. There are no reviews, comments, or recommendation sections to worry about or monitor. No discussion forums, no thumbs up or down, and no 4 or 5 star reviews. When readers read and share your content, they’re not making recommendations. They’re simply sharing interesting news or lifestyle stories with their friends, family, or colleagues. When new readers come back to your site, the result is safe lead generation for your firm.

APPROVED CONTENT

The Issue: Compliance departments need to pre-approve and regulate each piece of content before it’s shared.

Vestorly allows you to find any type of real-time web content and automatically or manually send it to a content library for a group or individual. That particular content library can be sent as an email to its assigned readers, dropped onto a website, and posted on your social media profiles. Therefore, each piece of content needs to be pre-approved.

Vestorly can work with your firm’s pre-approval policies in several ways.

If your firm is wary of sharing certain topics (for example, market-related pieces might be interpreted as an investment recommendation), Vestorly can easily block any topic, publisher, or even keyword from the content engine. We would also recommend avoiding all finance-related articles, for example. You can still use Vestorly to stay top-of-mind with contacts and give them a unique way to share your service. News and other interesting content is a means to this end (in fact, lifestyle articles are some of the most-viewed stories on Vestorly).

If your compliance department requires pre-approval instead of post-approval on an individual piece of content, Vestorly provides two options:

Vestorly Platform API. If your firm already has a pre-approval mechanism in place, Vestorly can integrate with it and send each piece of your content through that workflow. It can then be used on websites, social media, and email. Whether it’s a homegrown system or a platform that your firm has purchased, the technological framework is easily available for your firm to facilitate approval of everything you find and share on Vestorly. The Vestorly API is flexible, open, and free. Please speak with your customer solutions associate to learn more about this option.

Vestorly’s Home Office Pre-Approval Mechanism. Vestorly offers an email-based pre-approval mechanism. Advisors simply pick an article to share in a content library, which automatically triggers an email request for approval. The email is sent to designated compliance personnel who can either approve or deny that piece of content. No log ins or dashboards required.

ARCHIVING

The Issue: Advisors are required to archive all digital communications.

What do you currently use to archive your content? We integrate with it. Smarsh, Erado, Global Relay, etc – we’re ready to work with your archiving platform or compliance department to meet all requirements.

How is this possible?

Content that you find and share with Vestorly is being shared to your social profiles, your webpages, and your emails. Since all three of those media are archived already, so is the content you send there by extension.

Bottom line: Vestorly was originally built for the wealth management industry, so we have your compliance bases covered. We worried about it so you don’t have to. We understand that many compliance departments have their own sets of guidelines and requirements, and we’re prepared to work with your specific situation.

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