We’ve written recently about social media archiving and opportunities for VARs and MSPs to link up with product vendors such as Dexrex Gear and LiveOffice. BMRW & Associates Inc. and its Arkovi Web-based tools also operate in this space. The financial services industry, with its compliance obligations, is a key area of focus for the company as it is for other companies offering social media archiving products. Here’s why.

“Our core driver was to build something that addresses FINRA [Financial Industry Regulatory Authority] and SEC regulations,” said Blane Warrene, chief executive officer of BMRW & Associates.

That said, the company also targets other highly regulated industries such as health care and legal.

And as with other social media archiving plays, Warrene’s company also pursues a partnering strategy. Most of the company’s business has come through internal sales development, but partner-based business has grown this year as the company builds a channel.

Warrene said four core partners now team with Arkovi: Advisor Websites, Redtail Technology, Triplestop LLC, and Wired Advisor. Advisor Websites and Wired Advisor aim to help financial advisors build their online brands. Redtail offers CRM solutions geared toward the financial sector and Triplestop works with customers on social media strategy and implementation.

In addition, Warrene said he is discussing an arrangement with a storage service provider that would tap Arkovi on an OEM-like basis, selling the social media tool under its own label.

The initial round of partnering will emphasize financial services, but Arkovi will also create channels in other verticals.

“We are going down that road,” Warrene said.

VARs and MSPs planning to pursue financial advisors with social media archiving solutions should prepare themselves for varying levels of sophistication. Registered investment advisors range from those who are well versed in social media and understand the need to archive to those who list themselves on LinkedIn but don’t believe they are engaged in social media, according to Daniel Flannery, senior national account executive at BMRW & Associates.

Financial services and social media could add up to a promising market for providers willing to do a bit of eduction.

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