Compliance Needs to Be Involved with Your Financial Video

When you think about compliance, you might not feel warm and fuzzy. But when it comes to creating effective, useful (and usable) marketing videos, collaborating with compliance is key. Unfortunately, many advisers approach compliance with trepidation or even consider compliance as an adversary.

But it’s not as daunting to pass a video through compliance as you may think. Barry Toole, senior vice president of compliance at Pensionmark Financial Group, puts it in simple, familiar terms: “[Video is] not really unlike a PowerPoint presentation; [my process is similar to] when I know an adviser is going to be conducting a seminar.”

FPA Journal of Financial Planning

To continue reading the full article, follow this link to the Journal of Financial Planning, where this article, authored by Authentic Advisor Video and Concurrent Productions Co-CEO Kerri Feazell, was originally published.

Below is a summary of key takeaways from the full article:

If You’re Not Using Video, You’re Missing Out​

Kerri interviewed wealth advisor Drew Creekmur about his investment in financial video and noted “Drew has seen such success in video that his firm went from spending about 10 percent of its marketing budget on video to about 30 percent. And he expects that to increase to 40 percent or even 50 percent in the next few years.”

Financial Video: To Script or Not to Script?​

Nick Gertsema of Gertsema Wealth Advisors shared with Kerri: “I tried to do videos with the script a little bit, so I wouldn’t deviate. And then I learned to just trust my knowledge and know that compliance will look at it and say, ‘OK, if there’s something wrong, we re-record it.’ . . . At the end of the day, if I’m reading something and it’s boring and no one’s going to listen to it anyway, then who cares if it’s compliance approved?”

Three Principles of Creating a Story-Based Video That Passes Compliance

When it comes to compliance, including financial video in your marketing strategy isn’t as complicated as you may think. 

  1. Put everything you say in context.
  2. Get specific.
  3. Relate what you say to a personal experience.

Financial Video: Sample of Compliance-Approved Brand Video

For more details of why this financial video passed compliance, read the full article published by Financial Planning Association here (online version – also appeared in the print Journal). 

Financial Video: Compliance Is on Your Side

Collaboration with compliance throughout the financial video production process will help your video team pay attention to key checkpoints at every phase. Make sure you work with a video team that specializes in working with advisors and understands this. 

Pre-Production of Your Financial Video

Getting compliance involved with your financial video begins before the cameras start rolling. 
  1. Get familiar with compliance issues.
  2. Make sure your compliance officer reviews interview questions in advance.

Production of Your Financial Video

  1. Make sure your video production team is aware of what can and cannot be filmed in your office.
  2. Without compromising on-camera comfort levels, consider inviting compliance into the room.

Post-Production of Your Financial Video

  1. Collaborate with your compliance officer before you edit any footage.
  2. Add disclosures appropriately.
  3. Add your name and title.

Distribution of Your Financial Video

  1. Get approval on the video edit before you finalize and release it publicly.
  2. Use a proper archiving tool for social media posting.
Ready to work with a video team familiar with the compliance process? Click the image below to schedule a call today. 
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