Marketing Wealth Presentation

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Social Media Marketing For Wealth Managers

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  • Facebook requires more steps to set-up and maintain while Twitter conveys messages and is much easier to launch and maintain.Turn into a chart.
  • Most times I tell people: If I can do it, you can do it! It may hurt your brain and be uncomfortable but social networking is growing the fastest among baby-boomers! Desire and belief in its power and influence plus consistency equals success
  • Wealthy Investors want to be engaged. A recent survey by AdvisorTweets said that 75% of wealthy investors had not been asked to refer their colleagues 38% said that their advisors only reach out to them when there are important market changes. Don’t tell but engage others in your marketing process using social media.
  • I have spoken a lot about what to do. Let’s spend a few mins on what NOT to do!
  • Marketing Wealth Presentation

    1. 1. How to Implement Successful Social Media Strategies Within A Regulated Corporate Environment April Rudin, The Rudin GroupWebinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    2. 2. April Rudin The Rudin Group CEO April Rudin is the founder of The Rudin Group, a wealth marketing firm. Her firm specializes in creating customized marketing solutions for family offices, wealth managers, private banks and other financial service firms. She works alongside clients to strategize and implement solutions for attracting and retaining UHNW/HNW clients.  Corporate Experience plus private banking background  Skilled in structuring strategic alliances/social media marketing producing successful campaigns for winning new business  Seasoned professional in wealth marketing and frequently speaks in front of groups such as IPI, Tiger 21 and other wealth management industry conferences. Frequent contributor/blogger on social media/marketing for Huffington Post, Registered Rep, Fundfire, Family Wealth Report, etc.Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414 1-800-263-6317
    3. 3. ....................Webinar ©2011 Family Office Exchange ©2010Need Technical Support? Call 1-888-259-8414 1-800-263-6317
    4. 4. ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    5. 5. ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    6. 6. Flintstones to Jetsons: ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    7. 7. Where Are We Now? • Financial services notoriously slow to adopt new ideas • Wealth management firms have not felt serious pressure until now due to their best clients being their oldest clients and thus the least likely to use new technology including mobile internet and social networks • Older FA’s are typically the ones with the biggest book of business • BabyBoomers (ages 55 +) are the largest group of wealth holders • Wealth Management is a person to person industry • Wealth is being created at a younger age and succession planning is contributing to this phenomenon . ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    8. 8. Making the Case: Younger Generations Lead in the Adoption of…. Social Networks Percent who have an account with at least one social networking site Gen-Y (18-30) 87% Gen-X (31-44) 77% Younger Boomers (45-54) 66% Older Boomers (55-65) 56% Seniors (66+) 47% Base : 26,749 Adults Source: North American Technographics online Benchmark Survey, Q2 2010 US ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    9. 9. No More Sitting on the Sidelines! Younger generations are: – much more likely to use the mobile Internet – much more likely to view and access accounts via mobile Most importantly, younger generations are accumulating assets at a faster pace either through their own efforts or via succession planning. FINRA/IILOC have communicated some common sense guidelines which are clear and easy to follow. 71% of US adults are on social networks like Facebook, LinkedIn or Twitter. Source: Forrester Research 2011 ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    10. 10. Follow The Leaders • E-Trade offers investors access to account data, prices, charts and transactions through their own applications • Commonwealth Financial Network--April 2011 – FB, Twitter, LinkedIn and Blogs • Morgan Stanley Smith Barney—LinkedIn and limited Twitter for 600 wealth managers and 18,000 by October 2011 • Merrill Lynch--LinkedIn for over 16,000 wealth advisors by October 2011 • Wells Fargo –LinkedIn for over 15,ooo wealth advisors. • LPL Financial 10,000 advisors with 2,500 social media accounts including LinkedIn, Facebook and Twitter ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    11. 11. What Is A Brand? • It’s a mental picture in someone’s mind that is associated with your offering • Brands provide consumers with a way of distinguishing between offerings in the marketplace • Brands usually have two elements: – Functional elements – Emotional elements ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    12. 12. Branding In Financial Services • Logos represent brands to people and help them recall your corporate elements • Financial services’ brands create the security, consistency and trust with the target market and are developed at the corporate level but must be executable at the local level or the brand loses value • Strong corporate brands (especially in financial services) lead future clients away from making decisions based on price when other more meaningful differences between brands are communicated ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    13. 13. How Do You Create Your ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    14. 14. Extending the Brand and Other Strategies • Branding can be extended from one or more core products to others. For example: one might offer wealth management services and partner with other service providers in insurance products, etc. • Partnerships and strategic alliances are ways of extending your brand and gaining access to ―warm leads‖ and pre-vetted future clients • White-labeling is another brand extension strategy where additional products or services are offered from the outside but under the same brand. • Naturally, brand extensions must be logical and fit with the given brand and business model but can provide additional revenue streams ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    15. 15. Discover your Differentiators Be Visible and Communicate ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    16. 16. Variety of Social Media Platforms ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    17. 17. Platforms and Content Types Platform Unique Factors Number of Users Strategies and Best Practices LinkedIn Business networking and 115 Million Structuring your profile relationship building, and joining groups introductions Facebook Small Business/Personal 750 Million B to C, Business pages branding/Consumer brands Twitter Opportunistic, newswire, 200 Million Aggregating and short burst in real-time curating content to attract YouTube Most Authentic 440 Million In five years, all Teach and Learn websites will be video Look + Listen Google+ Feasting on SEO and 18 Million Struggling to be all Adword content things Blogging Thought-Leadership + POV, 156 Million Content + opinion Complex ideas Commenting and engaging with others ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    18. 18. Social Media Jargon ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    19. 19. Facebook Vs Twitter in Financial Services Year Facebook Twitter 2008 32% 15% 2011 59% 67% Why the explosion? Facebook is relationship-driven Twitter is content-driven .................... Source: Corporate Insight 2008 and 2011Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    20. 20. ROI for Social Media ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    21. 21. Converting Chaos to Calm ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    22. 22. If I Can Do It… ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    23. 23. FINRA/ IIloc Regulations and Guidelines ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    24. 24. Key FINRA Guidelines Informational Only (Not Legal Advice) Regulations 10-06 and 11-39 • Main idea was to reinforce that as social media usage increases, investors are protected from false or misleading claims and firms are prepared to effectively and appropriately supervise their associated persons participation on these sites. This involves creating a written plan, policies and providing training to all users. • All electronic communications shared over the internet are governed by the same rules covering communications with the public that firms already follow: recordkeeping, suitability, supervision and content requirements • Distinction between Static and Interactive Content – Static is considered advertising and requires pre-approval – Interactive is considered akin to a public appearance did not require pre-approval but does require supervision • Blogs are considered static but comments are considered interactive • Principal of firm or compliance department approves, retains and provides supervision over social media communications including those made through mobile devices. Must be retrievable through archiving softward. • Training must provided to FA’s to learn how to uses social media + how to not present undue risk to investors ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    25. 25. Key IIROC Guidelines ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    26. 26. Build Templates for Static Profiles • Uniform, professional photograph & branded background with ―Important Reminders‖ • Branded, uniformly formatted biography ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    27. 27. What to Tweet About? ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    28. 28. Niche Your Posts and Tweets ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    29. 29. ―The Well-Placed Whisper‖ ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    30. 30. Creating a Prospect Pipeline Real Estate Attorneys Matrimonial T&E Attorneys Attorneys Wealth Manager Non-profits CPA Firms ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    31. 31. 2011 Social Media Habits of the Wealthy 6% of UHNWof UHNW 6% 50 % of UHNW 3% of HNW of HNW 3% 75% of HNW 33% of UHNW 20% of UHNW 20% of HNW 19% of HNW Source: Social Media and the Affluent Household 2011 Report—Spectrum Group UHNW = Net worth of between $5 million and $25 million .................... HNW = Net worth of between $1million and $5 millionWebinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    32. 32. Your HNW Toolbox Existing Client Relationships + Referrals ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    33. 33. HNW Social Media Miscues • Abandoned attempts at social media • No plan in messaging – not nichey • Inconsistent posting or blogging • Too much original content and not enough curated content ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    34. 34. Key Points 1. Look at your brand, its elements and your own firm’s differentiators 2. Determine your own unique differentiators = messaging 3. Design a social media strategy which is detailed and assign responsibilities 4. Document a social media policy, archival, training and other FINRA/IIROC essentials 5. Execute the plan and monitor its progress. Make changes where necessary. ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    35. 35. LinkedIn Profile ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    36. 36. Thank You! April Rudin The Rudin Group april@therudingroup.com 201-482-8369 Visit us at: www.therudingroup.com twitter: @TheRudinGroupWebinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    37. 37. FINRA Regulations Pertinent to Social Media ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    38. 38. FINRA Regulations Pertinent to Social Media ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    39. 39. FINRA Regulations Pertinent to Social Media ....................Webinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414
    40. 40. Family Office Exchange LLC (“FOX”) provides this webinar solely as a tool for the convenience of its members. This webinar seeks to provide relevant, general information and contains information, opinions, viewpoints and materials contributed by advisors and other FOX members. Due to the nature of this webinar, FOX is not able to conduct and has not conducted any due diligence on its content and accordingly FOX does not guarantee the accuracy or reliability of any information, opinion or materials provided. Additionally, FOX specifically disclaims any responsibility, express or implied, for the accuracy or reliability of the content. Use of this webinar to offer or for the solicitation of offers to buy or sell securities is strictly prohibited. FOX does not sell, sponsor or endorse any investment products or content. The information and ideas contained in this webinar are not a substitute for the exercise of one’s own judgment in conjunction with appropriate legal, tax and financial advisors. FOX disclaims any liability for direct or indirect losses arising from use of the information presented. 100 South Wacker Drive • Chicago, IL 60606, USA T: 312.327.1200 • F: 312.327.1212 Winchester House Suite 307 259-269 Old Marylebone Road London NW1 5RA, United Kingdom T: +44 (0) 20 7170 4235 • F: +44 (0) 20 7170 4234 www.familyoffice.comWebinar ©2011 Family Office ExchangeNeed Technical Support? Call 1-888-259-8414

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