Advisers Gain Business Through Social Media


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As the industry prepares for one of the largest generational shifts of wealth in recent memory many Financial Advisers are recognizing the importance of having a social media presence. Many younger clients and prospects are looking for information on who is managing their assets and they want to have a more personal relationship with their adviser. Some FA’s are older and do not invest the time and energy into social media and could now be losing out on business.

These numbers are rapidly changing though, especially as new advisers come on board. Putnam Investments did a survey that found 81% used social media for business and 79% have acquired clients through it.

They are also finding different uses other than reaching out to prospects. While they may use LinkedIn for that they can form more personal relationships on Facebook and follow up to date news on Twitter.

The typical adviser using social media is 44 years old and works at a wire-house while living in the southern or western US. They have 10 years of experience and a median $80 million book of business. Independents are also getting on the trend as well. Advisers Gain Business Through Social Media – WSJ

“Over the last 10 to 12 months, I’ve invested hundreds of hours building a social-media presence,” says Mr. Douglas Boneparth, a partner at Life and Wealth Planning in New York.

The industry is currently going one way in relationship to the use of social media and those either not using, or not using it properly, will be left behind.


  1. Would you do business with a Financial Adviser if you could not locate them on any sort of Social Media first? What information would be most important to you?
  2. What regulatory issues do you think could arise from posts made on Social Media?

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