National Planning Holdings, Inc. (NPH), one of the nation's largest independent broker-dealer networks1, has engaged Erado to provide social media compliance services. NPH is expected to roll-out social media capabilities to more than 3,500 affiliated representatives by the fall of 2011.
Upon implementation of Erado’s technology suite, NPH will allow its representatives to leverage the interactive social networks of LinkedIn, Facebook and Twitter to communicate with clients and establish innovative business development programs. Erado’s technology will assist NPH in monitoring, tracking and archiving its representatives’ social media activity for compliance purposes.
The agreement with Erado covers each of the four broker-dealers in the NPH network: INVEST Financial Corporation, Investment Centers of America, Inc., National Planning Corporation, and SII Investments, Inc.
“Clearly, social media has reached critical mass and is becoming an increasingly important communication tool for financial advisers,” said Jim Livingston, president and chief executive officer of National Planning Holdings. “However, managing the compliance implications of social media activity has been a challenge, and our relationship with Erado will help us address these issues head-on. NPH has a history of technology innovation and remains committed to helping our representatives utilize the latest resources available to build their businesses.”
“We value our strategic relationship with NPH, and are pleased to be working with the firm,” said Craig Brauff, Erado’s chief executive officer. “The financial services industry is increasingly recognizing the power of social media, and the effect it can have on marketing and communications efforts. With that said, compliance regulations continue to evolve and companies in the sector must ensure that they are properly monitoring and archiving their social media activity. That’s where Erado can help, with its patent-pending, cost-effective and innovative solution.”available to build their businesses.”
About National Planning Holdings, Inc.
National Planning Holdings, Inc. (NPH) is a broker-dealer holding company and an affiliate of Lansing, Mich.-based Jackson National Life Insurance Company. NPH serves as the holding company for the independent broker-dealers INVEST Financial Corporation, Investment Centers of America, National Planning Corporation, and SII Investments, Inc. Collectively, the NPH broker-dealer network has 3,563 registered representatives. NPH and Jackson are wholly owned by Prudential pIc (NYSE: PUK), a company incorporated and with its principal place of business in the United Kingdom. Prudential pIc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
Erado (erado.com), one of the nation's fastest-growing business-tech companies provides a suite of hosted solutions for capture, review and archiving of electronic communications, including Email, instant messaging, and social media such as Facebook, LinkedIn and Twitter. Founded in 1994, Erado helps organizations manage and enforce cost-effective compliance and records retention policies.
Andrew Silver, Public Relations Director, NPH
P: 303-224-7542 / E: andrew.silver[.]jackson.com.