InvestmentNews takes advisers through the developments and innovations in technology that’ll change the way you do business today—and tomorrow.

RegEd buying Arkovi

Well known compliance tech and education provider bringing social media archiving and control tools into the fold

Sep 17, 2012 @ 1:20 pm

By Davis Janowski

There is a new romance being consummated in the advisory social media archiving and tracking technology world.

That is a mouthful.

Getting down to specifics, RegEd, a very well-known provider of compliance technology, services, and educational information to the financial services industry announced today that it has signed an agreement to acquire Arkovi, a web-based social media archiving and surveillance system familiar to many advisers.

While terms for the acquisition were not made public the deal is expected to close in October.

In a nutshell it came down to buy a proven product rather than build one from scratch; Arkovi will now be a linchpin in RegEd's Social Media and Communications Compliance offering.

“I'm glad we didn't have to build it ourselves — and we have been approached continuously by our enterprise firms asking us to come up with something in this fractured landscape,” said RegEd chief executive John M. Schobel in an interview last week.

“Started w/continuing education and began layering on more and more things; we have two million end users when you consider our insurance agents,” he added.

He went on to explain that enterprise buyers are demanding that their compliance-related technology come from a single source these days.

“We looked at Arkovi and Blane's [Warrene] forward-looking vision and how they made it so that you didn't have to have discrete software, it absolutely compelled us,” added Mr. Schobel.

Mr. Warrene, Arkovi's founder said during the interview that he had been a long-time user of RegEd's technology in various previous positions he has held in the industry and that the firm and its culture represented a good match for Arkovi.

“Social [media] has created this new bridge and I saw this as having a much broader opportunity for us in terms of future development,” Mr. Warrene said of the acquisition.

The potential of the merger provides both firms the opportunity to more quickly bring a total platform to market that competes directly with the handful of other comprehensive systems available.

These include those of Actiance Inc., Hearsay Social Inc., Protegent Social Media Surveillance from SunGard, Smarsh Inc., and Socialware Inc.

Related stories:

So, you're on Facebook; now what?

Smarsh unveils archiving product

Socialware to receive additional funding from CrunchFund, other investors

Raymond James makes its social-media move

Erado lands another big independent broker-dealer; Control of Google+ still a big question mark; Advisor Group went a different route

LPL latest to deploy social-media archiving system; Independent broker-dealer selects Erado's API-based archiving, tracking and post-review tool

Finra unveils additional guidelines for social media and blogging

The pluses and minuses of Google+

Actiance to launch Socialite Engage; A measuring stick for social media efforts in addition to pre-approval, tracking and archiving

RBC Wealth Management rolls out internal video sharing service for advisers; Firm likens Springboard to a YouTube for financial advisers

An adviser dives into video stream; Remote meetings and desktop access accommodate clients too busy to meet

MSSB provides advisers with internal social network

Rivals watch, wait as MSSB starts tweeting

Behind the scenes in social media

Social-media archiving, compliance solutions in focus

Use of social media in focus SEC begins sweep, Finra mulls issuing new guidance for advisers

Social Media: Reps, advisers experiment despite compliance concerns (webcast transcript)

Cambridge Investment Research undertakes social networking pilot using Socialware

Social media archiving meets e-mail archiving in new partnership

FaceTime launches security app for social networks

Small surveys reveal different points of view on advisers and social networking

Making the most of social networking

Advisers approach Google's Buzz with caution

Socialware could bring B-Ds, large RIA firms into the modern world

Arkovi, hope for advisers who want to tweet – but not delete

New networking site for advisers said to comply with Finra regs

LinkedFA responds


Dexrex on social media

Investors using social media to glean investment advice, study shows


What do you think?

View comments

Recommended for you

Featured Research

The 2015 InvestmentNews Adviser Technology Study

This in-depth study provides a blueprint for the industry, providing actionable information to advisers, along with the latest solutions to help them drive profitability, efficiency and growth for their firm.

Latest news & opinion

Wells Fargo's move to boost signing bonuses could give it a lift

Wirehouse is seen as trying to shore up adviser ranks that took a hit after banking scandal

New Jersey fines David Lerner Associates for nontraded REIT sales

Firm will pay $650,000 for suitability, compliance and books and records violations.

Report predicts $400 trillion retirement savings gap by 2050

Shortfall driven by longer life spans and disappointing investment returns.

Wells Fargo will ramp up spending to lure brokers

Wirehouse, after losing 400 brokers in first quarter, is bucking trend among rivals who have said they are going to cut back on spending big bucks recruiting veteran advisers

DOL fiduciary rule pushes indexed annuity carriers to develop new products

Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print