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At least one investment manager continues to innovate in the social media space. The latest innovation is from Vanguard where they have figured out a way of having their clients do marketing for them through Facebook.

Go ahead and “Tell a Friend”

Just released is a new application on Vanguard’s Facebook profile called “Tell a Friend”. By using this application, Vanguard has enabled their clients and prospects to help them market their their services to a network of like-minded individuals. There are two aspects which make this new Vanguard Facebook application particularly innovative:

• Seemless integration with Vanguard’s existing website where the Facebook recipient is encouraged to learn more about Vanguard products and services.
• Vanguard can be in compliance with FINRA’s Rule 2210 while harnessing the social features of Facebook. Under Rule 2210, Vanguard is subject to the “entanglement” or “adoption” theory. However, since the “Tell a Friend” application involves no payment for the 3rd Party Post nor was Vanguard involved in the actual Facebook content creation prior to posting, they have not “explicitly endorsing or approving the content” created by the user on Facebook.

Check out the screenshots that follow and let me know what you think by leaving a comment below.

Over 9,000 people already like the application, so Vanguard must have done something right!