Stephen Gazard, managing director of Sesame Bankhall Group, recommends such tools and says it is also good practice to implement a social media policy so staff are clear about what they can say, the sign off process and which tools they should use.
He warns staff may say inappropriate things on social media without realising it.
Mr Gazard says: “If they are associated with your firm this could reflect badly on your brand image. They may not see the bigger picture.
“For example, posting a picture of staff enjoying a Christmas party may seem to them a fun thing to do, but this might not be an appropriate image and could be misconstrued by the wider market place.”
As well as looking at what your staff is saying on social media, Mr Gazard says advisers should also expect their online dialogue to be checked by their network.
Networks are responsible for approving any financial promotions issued by their appointed representatives.
If social media is being used for the purpose of making financial promotions then Mr Gazard says it should be subject to the same approvals process, with relevant systems and controls, as apply to any other forms of financial promotion.
Each network has its own policy for monitoring the way members use social media but generally, Helen Turner, distribution and development director of Tenet, says new profiles would need approval by the network.
She warns some networks will insist on approval for each and every post.
Ms Turner says: “The Tenet policy is to allow appointed representatives to post without the need for approval once 10 consecutive posts have been approved. Spot checks are then done to ensure compliance.”
Ms Turner says Tenet expects advisers to monitor staff use by having an online presence themselves.
To keep a closer eye on things, she recommends the use of online software such as tweetdeck or hootsuite where you can monitor multiple accounts simultaneously.
Ms Turner says: “While it is important to trust your staff it can never hurt to keep an eye on what they are doing on social media and ensuring that they are delivering the right messages for your company.
“It is also a great way for you to communicate, congratulate and share things as a company.”
Ultimately, Nina Stenning, head of marketing communications at Openwork, says networks will apply the same rules to social media as they do for ‘traditional’ financial promotions.
She says: “They should stipulate that you send in your social media profile for approval when it is first set up.
“Your network is also likely to monitor your social media updates regularly, and may even specify a process through which all social media activity should pass.
“Ideally your network will provide a social media policy of guidance document, to help you to get the best out of social media - and avoid the pitfalls.”
Assuming you have set up business profiles for your social media sites, Ms Stenning says you will be able to limit who posts on behalf of the business.
This should make it easy to monitor the latest tweets and updates.
If you provide IT equipment and internet access to your staff, and don’t want them to use social media at work, Ms Stenning says you can block their access to these sites.
Alternatively, Ms Stenning says ask your staff to submit their social media profile details to you.
You can then monitor these on an individual basis.
Ms Stenning says: “If you allow your staff to use social media for personal use, you’ll probably want to limit them to doing so during their break-times and trust that they stick to that. If this starts to impede on their day-to-day objectives, you may need to take action.”
