SOURCE: Socialware


April 12, 2011 08:00 ET

Financial Services Companies Tap Socialware to Unlock Power of Social Networks

Social Business Management Software Provider Expands to Accommodate Rapid Growth

AUSTIN, TX--(Marketwire - Apr 12, 2011) - Socialware, the leader in social media compliance and engagement, today announced another quarter of record revenue and the expansion of its leadership team to accommodate the growing demand for its solutions in the Financial Services industry. More than 100 financial organizations, such as Cambridge Investment Research, Inc., Guardian, New York Life and Pacific Life, leverage Socialware technology and services to profitably accelerate the development of valued business relationships through social networks. In Q1 of 2011, the Company's average number of users per account grew by more than 150 percent.

"We quickly realized the marketing and business development potential that social networks represent for our organization," said Mark Cohen, AVP Digital Media at Cambridge Investment Research Inc. "Socialware has provided us with the ability to offer the advantages of social networks like Facebook, LinkedIn and Twitter to our advisors while ensuring we remain compliant with regulatory policies."

With the Socialware Compass technology, Financial Services professionals can access the extensive networking, marketing and research capabilities available via social media sites while remaining compliant with SEC, FINRA, IIROC, FSA and state regulations on electronic communication. Working with thousands of users, including five of the top 10 insurers and 15 of the top 75 broker dealers, the Socialware team has a deep rooted understanding of the complexities involved in the industry and has developed solutions that allow highly regulated businesses to interact on social networks to drive business.

"We work closely with the Socialware team to educate financial professionals on how to remain competitive, compliant and successful using social media," said Jim Kerley, President of LIMRA Services, a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies worldwide increase their marketing and distribution effectiveness. "Because of its breadth of experience and dedicated focus on the financial services industry, Socialware provides the most advanced solutions in the market today to address the specific challenges that financial services companies face as they seek to reap the business advantages social networks can provide."

"Tackling compliance was just the first step in opening the doors of social media for financial professionals," said Chad Bockius, CEO of Socialware. "Now that the fear is dissipating, we expect to see very innovative social activity coming out of the industry. Just around the corner, we'll be introducing several new solutions that help companies who have adopted social media get the most out of those tools and measure the impact to their businesses."

As a result of its growing business, Socialware is expanding its leadership team and has hired for several leadership roles in sales, marketing and customer success.

"We expect demand for our solutions and visibility for Socialware to continue to grow and we're eager to bring on additional talent during such an exciting time for our business," added Bockius.

To join the conversation on social business topics, visit the SocialTurns community For more insight and commentary on the effective and compliant use of social networks, please visit

About Socialware
Based in Austin, Texas, Socialware provides software that empowers financial services marketing and sales to profitably build valued business relationships. With unmatched expertise drawn from over 100 clients, Socialware is the trusted standard for social business management in financial services industries. You can find out more about Socialware at, as well as on Twitter: @Socialware. You can also read their blog:

Contact Information