LinkedIn Financial Services Webinar Part 3 - 6-26-12


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This deck gives a deeper understanding of how financial advisors can leverage social media, and how various types of advisors achieved success despite the challenges presented by company compliance policies, based on research by LinkedIn and FTI Consulting. By Emily Friedman, LinkedIn; Neil Benedict, FTI Consulting; and Davis Janowski, InvestmentNews.

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LinkedIn Financial Services Webinar Part 3 - 6-26-12

  1. 1. Financial Services Webinar SeriesFinancial Advisors and Social MediaUnderstanding the Opportunities and Challenges #INfinserv
  2. 2. Today’s speakers Panelists Emily Friedman Associate Research Consultant •  Davis Janowski LinkedIn Technology Columnist & Reporter InvestmentNews •  Mitchell Rock Neil Benedict SVP / Investment Advisor Morgan Stanley Smith Barney Managing Director FTI Consulting •  Cathy Curtis Certified Financial Planner Curtis Financial Planning #INfinserv 2
  3. 3. Agenda §  Insights: Financial Advisors’ Use of Social Media §  Financial advisor panel §  Q&A §  Next event – June 28 #INfinserv 3
  4. 4. Methodology Partnered with FTI Consulting Global business advisory firm with proprietary research panel Online survey among 463 financial advisors in the U.S. Includes wirehouse advisors, broker-dealers and registered investment advisors Marketing Solutions 4
  5. 5. Executive summary§  Social media is quickly becoming a significant component of financial advisors’ marketing, and adoption rates will continue to grow.§  When using social networks for business, financial advisors overwhelmingly prefer LinkedIn – and they would like to use it more if permitted.§  The majority of advisors who use LinkedIn for client prospecting have gained new business, particularly through proactive use of site tools to support acquisition. Marketing Solutions 5
  6. 6. Key FindingsMarketing Solutions
  7. 7. Financial advisors expect social media to play a moresignificant role in their future marketing % who say significant role in marketing currently vs. one year from now: ? 52% 29% Current marketing efforts Marketing efforts one year Marketing efforts two from now years from now Marketing Solutions 7
  8. 8. Overall, LinkedIn is the most used social networkamong financial advisors, followed by Facebook 78% 75% use LinkedIn use Facebook Business use 17% Personal use only 71% 38% 37% use Twitter use Google+ 61% 50% LinkedIn Facebook Twitter Google+ Marketing Solutions 8
  9. 9. Nearly three in four financial advisors have used atleast one social network for business in the past year 71% Social networks used for business in the past year: have used at Among FAs who use at least one for businessleast one social 91% network for business 32% 28% 22% LinkedIn Facebook Google+ Twitter Marketing Solutions 9
  10. 10. LinkedIn is favored over other social networksparticularly for networking and growing business 8X 3X as likely to use LinkedIn as likely to use LinkedIn to make professional connections to cultivate client prospects NETWORKING GROWING BUSINESS Marketing Solutions 10
  11. 11. Financial advisors would like to leverage LinkedIn formore of their business needs Would ideally choose LinkedIn for this purpose if regulations werent an obstacle Have used LinkedIn for this purpose Making professional connections 77% 71% Expanding my professional knowledge base 56% 31% Improving the effectiveness of my referral 53% network 42% Cascading thought leadership in my field 48% 20% Building my brand identity 43% 42% Cultivating client prospects 42% 34% Enhancing current client relationships 31% 30% Marketing Solutions 11
  12. 12. More than three in five advisors who have leveraged LinkedIn to cultivate prospects have gained new clients Have you gained new clientsfrom prospecting on LinkedIn? Resulting gains in assets from new clients: Yes, Less than $500,000 42% 62% No, $500,000 to $999,000 20% 38% $1,000,000 to $4,999,999 20% $1M+: 32% $5,000,000 or more 12% Marketing Solutions 12
  13. 13. Advisors who gain new clients on LinkedIn proactivelyleverage site networking tools to grow their business 70% 64% use search tools to find request introductions to new leads potential clients NETWORKING GROWING BUSINESS Among advisors who gained clients on LinkedIn Marketing Solutions 13
  14. 14. Successful advisors increase use of LinkedIn due to target client presence & improved understanding of site Has your business use of LinkedIn increased over the past year? Top reasons for increased use: Stayed the 71% same, 21 % The types of clients I want to reach areDecreased, active on LinkedIn 3% Increased, 76 % 66% I have a better understanding of how to leverage LinkedIn for business Marketing Solutions 14
  15. 15. InvestmentNews FindingsMarketing Solutions
  16. 16. Most financial advisors are already using social media, andmore than half are using it for professional purposes Advisor use of social media Source: InvestmentNews Advisors and Social Media Survey, May 2012 Marketing Solutions 16
  17. 17. Financial advisors who use social media for business stronglyprefer LinkedIn, while personal use is highest on Facebook Social media tools used by advisors Source: InvestmentNews Advisors and Social Media Survey, May 2012 Marketing Solutions 17
  18. 18. When prospecting for new clients, financial advisorsturn to LinkedIn over all other social media sources Reasons advisors use social Social media applications used to media for business purposes attract new clients Source: InvestmentNews Advisors and Social Media Survey, May 2012 Marketing Solutions 18
  19. 19. Today’s panel MODERATOR: Davis Janowski Technology Columnist & Reporter InvestmentNews Mitchell Rock SVP / Investment Advisor Morgan Stanley Smith Barney Cathy Curtis Certified Financial Planner and Investment Advisor Curtis Financial Planning #INfinserv 19
  20. 20. Next event:Financial Institutions and Social Media June 28 #INfinserv 20
  21. 21. Thank you for attending part three of ourFinancial Services Webinar SeriesLearn how marketers have successfully met their objectives: Contact us: #INfinserv 21