Financial Advisors and Social Media: Making the Connection.
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Financial Advisors and Social Media: Making the Connection.

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Financial Advisors and Social Media: Making the Connection. Financial Advisors and Social Media: Making the Connection. Presentation Transcript

  • Financial Advisors and Social Media:  Making the Connection. Putnam Investments partnered with FTI Consulting to learn about the social media behavior of financial advisors. Stay on top of trends in mobile technology, software, and social media. The Social Advisor The typical financial advisor who uses social media on a daily basis 95% 31% 29% 21% 61% 42% 60% 58% Used in the past year for business purposes 95% 31% 29% 21% 61% 42% 60% 58% Use has increased year-over-year 95% 31% 29% 21% 61% 42% 60% 58% 47% 43% 38% 95% 31% 29% 21% 61% 42% 60% 58% 44-year-old male of financial advisors use at least one social network for business Response = 305 advisors. advisortechtips.com 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% 95% 31% 29% 21% 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% Book of business: <$150M Typical client portfolio: <$1M Typical assets from new social media client: <$500K 95% 31% 29% 21% 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% 95% 31% 29% 21% 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% 95% 31% 29% 21% 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% Fee-based independent broker/dealer 10+ years of experience Uses social media to build referral network, brand,  and relationships 75%
  • Putnam Retail Management One Post Office Square Boston, MA 02109 putnam.com AR223 281965 10/13 Putnam Investments Survey of Financial Advisors’ Use of Social Media (2013). Conducted in partnership with FTI Consulting: Survey conducted by FTI Consulting Strategic Communications in July 2013 among 408 U.S.-based financial advisors. Data sources: FTI Consulting Strategic Communications financial advisor panel and Harris Interactive. How advisors use social media Adding connections and assets 49%of advisors  acquired new clients Of those, 29%gained $1 million+  in new assets 95% 31% 29% 61% 42% 60% Improve referral network Build brand identity Expand  professional network 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% Improve the effectiveness of referral network Cultivate specific prospective clients once they are identified Enhance current client relationships 66%use LinkedIn to prospect for new relationships 69%use Facebook to sustain them 61% 42% 60% 58% 66% 43% 28% 18% 35% 44% 20% 20% 44% 69% 28% 28% 47% 9% 4% 4% 43% 13% 8% 5% 38% 7% 5% 6% Among financial advisors using specified social networks.