We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (22,088)
  • Industry Conferences (2)
  • Industry Job Openings (3)
  • Moore on the Market (492)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (827)
  • Wink's Articles (376)
  • Wink's Inside Story (284)
  • Wink's Press Releases (129)
  • Blog Archives

  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Facebook’s five-star ratings: The end of business pages for advisers?

    November 15, 2013 by Kristen Luke

    Should you be nervous about a new rating system that allows users to evaluate your business? You bet.

    If you have looked at your Facebook business page in the past week, you may have noticed something very concerning at the top of your page — a Morningstar-style star rating. The world’s most popular social-media site is testing out a five-star rating system that allows users to evaluate your business. While it’s unclear whether this has been rolled out to all business pages, it is something every adviser with a Facebook business page should be nervous about.

    Why should you be concerned?

    Rating a business on Facebook is as easy as one click. There is no requirement that the person is or ever was a client. In fact, there is no way to be certain that the reviewer has had any experience with your company. While the rating is absolutely meaningless, it can destroy your online reputation if enough people give you a low rating

    Unfortunately there is no way to combat negative ratings since you can’t solicit positive ratings since those would violate testimonial rules from both the Securities and Exchange Commission and the Financial Industry Regulatory Authority Inc. In fact, just having the rating scale on a business page that you manage puts you in violation of these same industry regulations since you are promoting a testimonial for marketing purposes. This is the same reason why financial advisers are not allowed to use review sites like Yelp.com.

    WHAT CAN BE DONE?

    Since this feature is just now being rolled out, it’s unclear if the star rating is going to be a mandatory or optional feature. If it is mandatory, it could mean the end of advisers’ using Facebook business pages forever.

    At this time, there is no obvious way to turn off the star rating feature. Luckily, there is a workaround to the problem — at least until Facebook makes additional changes.  Here’s what you can do:

    • On your business page, go to the “About” section under the logo.

    • On the next page, hover over the “About” section and click “Edit.”

    • To the right of the “Address” section, click “Edit.”

    • Uncheck the box that says “Show this map on your page and enable check-ins.”

    • Click “Save Changes”

    The next time you go to your business page, the stars will no longer appear. The downfall of doing this is that a map of your business location will no longer appear on your page, nor can people check in at your business. The address, however, will still appear on your page. As an adviser, you must constantly worry about compliance, so losing the map and the ability to check in is a small price to pay to keep Finra or the SEC off your back.

    This is such a new feature that it is too early to decide if it’s time to delete your Facebook page.  I recommend that you use the workaround and keep a close eye on your page to make sure that the stars do not reappear as a result of another Facebook update. If you’re really nervous, unpublish your page until Facebook sorts out this new feature. While Facebook has value, it is not a powerful enough marketing tool to risk a Finra or SEC violation.

    Kristen Luke is president and chief executive of Wealth Management Marketing Inc. and co-founder of The Mercato, an online marketplace featuring do-it-yourself tools, templates and training for financial advisers. Follow her on Twitter: @kristenluke)

    Originally Posted at InvestmentNews.com on November 15, 2013 by Kristen Luke.

    Categories: Industry Articles
    currency