Bruce Johnston, former CEO of Old Mutual Investment Partners, Sentinel Investments and Gartmore Global Investments and now president and CEO of his own consulting firm, has launched a new venture. Together with John Drachman of The Drachman Group and Zach Hedges of Actualize Media, Johnston unveiled Advisolocity, which offers marketing communications, e-marketing and sales support to investment managers, independent advisors and service providers.

Bruce Johnston Advisolocity

Advisolocity's Web site, www.advisorlocity.com, went live on Wednesday. Among other services, the firm helps financial services companies harness the power of social media tools such as LinkedIn, Facebook and Twitter, Johnston said.

The launch of Advisolocity comes a little over a month after Finra issued guidance regarding the use of social networking sites.

"There's a lot of interest now that the roadblocks to using social media tools are gone," Drachman said. "Now, the question is no longer 'To blog or not to blog?' but 'Do you want to start building your peer network today or tomorrow?'" 

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