Want To Spruce Up Your Media Image? Here Are Three Financial Trade Press Tips

When dealing with reporters, there are certain offenses you should never commit: Lying, evading phone calls, and giving out inaccurate information top the list. Those are good tips when interacting with any reporter. But there are some more nuanced tips firms can follow when dealing with the financial trade press – proactive steps that will cultivate strong bonds with reporters and help avoid negative coverage, but also generate some positive buzz.

Just Explain It

In the world of the highly specialized financial trade publications, journalists are often trying to illuminate details of an industry that can appear very murky from the outside. Unlike political reporters, who can see the “sausage being made,” or crime reporters, who can respond to the scene with the help of a police scanner, financial reporters have a much more limited view of the industry they cover. They don’t have the same front row seat—they aren’t allowed in boardrooms or other internal meetings, and executives who aren’t paid with taxpayer money don’t have the same obligations to answer their calls.

Financial services reporters appreciate a source they can trust to explain the complexities of the industry and interpret developments for them, so giving them a window into an issue is sometimes story enough. Consider reaching out to reporters to explain topics that tie into current events, such as the impact of rising interest rates on a certain asset class or the resources needed to launch a liquid alt. A reporter will not be interested in running your promotional sales pitch, but he or she might publish a clear, succinct explanation with some thoughtful articulation on a difficult topic.

Insight Into Your Operations

Reporters have a reputation for craving scandal and wrongdoing, but they also seek a window into the internal operations of firms to observe various practices. Obviously, there are privacy and compliance considerations when deciding what internal routines to share with reporters, but there is often some aspect of a firm’s operations that is safe for public consumption and is also interesting to reporters. For instance, compliance and risk mitigation have taken center stage in the wake of the 2008 financial crisis, and a unique approach or strategy to either could be newsworthy. Maybe you hired a new chief compliance officer whose background is a departure from the standard CCO, and the added expertise carries some special weight at your firm, setting you apart from your peers.

Show Off Your Regulatory Expertise

In our post-Dodd-Frank world, there is almost always some new regulatory development the industry is adjusting to. Some of these adjustments have been routine and easy to incorporate into firm practices. Others, however, have been monumental and consuming, sometimes delivered with language that is difficult to interpret. The new Securities and Exchange Commission registration requirements for private funds, for instance, have been challenging to understand and to implement, and also attracted a fair amount of media attention. Firms, however, that are able to implement such changes successfully have something to talk about. They can step out, explain their process, and establish themselves as not only organized and prompt, but compliance fortified.