Financial Services On Global Advertising Ban From TikTok

In the past week TikTok announced a global ban on advertising for financial services and products.?

Similarly, many of you will be aware that Facebook/Instagram don’t allow you to use certain words or promise percentage returns on ROIs as a crackdown on financial scams and pyramid schemes.?

Even more so, regulatory bodies here in the US such as the SEC have been cracking down on content included in ads that could be deemed as misinformation for investors.?

So with all these restrictions in place what can you do to make sure the world knows about the services you offer?

1. Double check that all information involved in ads is correct: For most of these issues you need to be able to prove that information provided in your ads is 100% factually correct. That means appeals to emotion, or promises of aspirational goals need to be left to other industries to protect you from legal backlash.?
2. Use organic methods: Thankfully restrictions on Facebook, Instagram and Tiktok only apply to paid ads so you should still be able to produce organic content without any issues. To make sure your content is being viewed by as many people as possible remember to talk to the pain points of your clients and not be afraid to be polarising and go against the grain. However, keep in mind organic posts do need to be SEC compliant so that you are not seen to be misleading investors!
3. Get a compliance professional: Making sure your content and advertising materials are SEC compliant can be a nightmare with regulations changing with short notice. That’s where a compliance expert comes in, they keep up to date with the regulations and can run monthly audits on your business in order to make sure that you are remaining compliant in all aspects.

What have you been doing to get your business out there as an RIA? Did you know about these advertising restrictions??

If you need help or would like an audit of your current materials to make sure you don’t get slapped with an unwanted fine, send us a message and we’d be happy to discuss how we can help you business stay compliant!