Navigating Specific Stocks Commentary for Live Segments: Break into Broadcast

Picture this – you land the perfect segment – marquee show, ideal timing, compelling topic. Then the producer asks, “Can your spokesperson speak to specific stocks?”

Instantly, your head is flooded with the several reasons why they can’t – perhaps the firm has strict compliance rules around this or maybe your spokesperson can but would prefer to speak to sectors instead. There are many factors to consider, but it all comes down to the fact that your spokesperson and the producer need a little guidance.

Whether a spokesperson can or can’t address stocks, as liaison between producer and client, it’s important you, as a PR professional, are able to balance ensuring your clients’ comfort level and/or restrictions and the needs of the producer.

Below, we’ve outlined best practices and considerations to keep in mind when managing broadcast with markets-focused guests. At the end of the day, your goals should be:

• Be helpful to the producer given the nature of their fast-paced jobs – what you’re pitching must be relevant and TV works twice as fast (likely more) as print;
• Empower your spokesperson to speak on topics that display their expertise and underscore the credibility of their firm’s work, regardless of whether they can comment on specific stocks; and
• Offer alternative approaches your client can take to find a middle ground that still meets the producers’ needs.

Start with Compliance

Often, a portfolio manager or stock analyst already knows the rules – but it’s always smart to double-check with compliance. That team will be able break down what can or cannot be said on air to ensure all commentary follows company policy and industry regulations.

Top 10 is Key

So, you get the go ahead from compliance – what’s next? How do you pick which stocks will be discussed on air?

The general rule of thumb is to pick positively performing names within the Top 10 Holdings of the spokesperson’s fund(s) – this is also typically recommended by the compliance team. Often, these Top 10 Holdings will point to broader themes across the market and investing environment that will also make the segment more compelling for the program and its audience.

Depending on markets or earnings news, specific stocks will be trending over others. As such, some producers will make it clear they only want a guest who can speak to XYZ. In those instances, if your spokesperson can’t speak to one of those names, be honest with the producer and try to be helpful by sourcing another guest, if possible, or offering a different approach with a rationale on why it would make for an interesting segment.

Be Mindful of Language

For most of our clients, we advise not to use “buy / sell” language, meaning anything said on air shouldn’t be explicitly telling listeners to buy or sell off a specific holding. The purpose of these segments isn’t to entice viewers to invest in certain names or funds – it’s to amplify expertise, establish credibility and reach wider audience sets.

When speaking to specific stocks, it is recommended to discuss at a high-level the opportunity the holding offers and what the positive performance in its sector is signaling about the broader market and economic environment.

Establish Credibility

Now on the flip side, let’s say compliance says no, or your spokesperson is more of a strategist, rather than a portfolio manager who doesn’t have any holdings to speak to. Well, sorry, that’s all I have. Thanks for reading.

Kidding!

It’s all about upfront communication with the producer and establishing the credibility of your spokesperson. Credibility is the most important thing you can showcase when pitching broadcast. You can’t always predict the news cycle and how your client will fit into it, but you can prove why they deserve to be in the mix.

There are many times when a producer will greenlight a markets guest who can’t speak to specific stocks because they have the expertise and track record that proves why they should be on air. Many times, producers will be just as interested in hearing about specific sectors or trends shaping the economic environment. Be transparent with the producers if your spokesperson can’t speak to stocks on air and offer up a few sectors – the segment may end up being more macro-focused but will still offer valuable insight for the audience. Once credibility is established, the producer will be amendable to more high-level sector commentary.

Remember, the producers are rooting for you and your client

Broadcast producers set out to make a seamless product every day – they have little room for error given the nature of live TV. Because of this, they aren’t looking for “gotcha” moments. They want their guests to succeed, to not only help their program be successful, but to also educate, empower and inform their audience – an audience your spokesperson also cares about.

Broadcast success isn’t about stock-picking on air – it’s about showing up informed, prepared, and credible. Whether your spokesperson talks sectors or specific holdings, your job is to make it easy for producers to say yes. Clarity, flexibility, and trust go a long way in this business.