BD Charging for Social Media
I work as an FA for a Broker Dealer in Florida. My BD recently implemented a new social media program (for LinkedIn, Twitter & Facebook) where each rep has to pay $100 per month just to keep their LinkedIn & Facebook accounts online. They claim this is so that they can monitor you posts/messages.
Is this the norm in the industry? This seems a bit expensive to me. I want to get a pulse of what reps at other firms around the country are experiencing regarding social media and having to pay to use sites such as LinkedIn & Facebook.
Your comments are appreciated.
My firm only raised the fee $10.00 for social networking. You are being hosed.
LPL arranged monitoring at $60/year per social media account.
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