The Principal Selects Social Media Monitoring Platform

The Principal Financial Group chose Actiance’s platform, called Socialite, to help meet regulatory requirements that allow the firm’s financial professionals to use social media for business purposes.

Socialite monitors representatives’ social media conversations with clients and prospects, including traffic originating from a multitude of devices such as PCs, Macs, tablets and smartphones. It provides control for social networking sites, including the ability to manage access and content shared across 200 features on Facebook, LinkedIn and Twitter. The solution can handle the needs of home office and field-based representatives.

“The wide adoption of social media, in conjunction with FINRA regulations and other guidance from regulators, has sparked a variety of changes for The Principal and the financial services industry as a whole,” said Chad Oppedal, assistant director of Compliance for The Principal Financial Group. “The number of social media options available, the geographic dispersal of our reps, and the fact that each individual can use a variety of hardware and communication tools to interact with clients meant that before allowing our reps to use social media, we needed a technology solution to handle our complex regulatory needs while effectively enabling our reps to take advantage of new ways to connect with their clients.”