Filed Under:Your Practice, Social Media

Social media good for clients, advisors

Just as advisors are being asked to do it all for clients in general, they are being asked to do it all on social media, experts say. The plus side? “There's the power [social media] can have to help you make a difference with retail investors as clients plan for retirement, get kids through school, etc.,” said John Maurello, head of the Securities Industry and Financial Markets Association's private client group. “And social media fits so nicely into the fabric of helping investors fulfill their financial goals.”

Believe it or not, Keith Watts, head of Facebook's financial services business unit, says this work makes the industry “sexy.” “The work you do is so personal,” he said during a panel discussion at SIFMA's Social Media Seminar, held recently in San Francisco and attended by about 150 advisors broker-dealer executives, marketers, regulators and others. “Your role is to talk people through the emotional value you bring to their lives.”

This means your Tweets have to “be real,” and advisors and broker-dealers need to keep their core communications consistent. “Speak with one voice across all media rather than running disjointed campaigns,” Ploumitsakos said.

New York Life's “Keep Good Going” campaign, adds Watts, is a good example of a communications campaign emphasizing this value and working well across different social media platforms. “This type of campaign can help with eroding trust,” Watts explained.

David Amann, CFP, promotes his Redwood City, Calif.-based practice with Edward Jones in ways that reflect his Silicon Valley presence. For instance, Amann will review news on Reddit, a site that lets readers vote on which stories and discussions they believe are most important, and then go on Twitter to share a link that seems instructive.

“I want clients to know what I am doing for them every day,” he said.

Originally published on ThinkAdvisor. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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