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5 Reasons Social Media Matters
to Financial Advisors
Your Clients Are Using It:
Trends of investors using social media
68%
32%
Those with least one social media profile
Yes
No
Yes
No
=	
  U.S.	
  online	
  adults	
  with	
  an	
  investment	...
Nearly 2/3 of mass affluent consumers take action after using
social media to discover and consider financial products and...
2/3 of millionaires surveyed said they would like to use
electronic media with their advisors.
However, there is a huge gap between investors who interact
with their advisors on social media (4%) and investors who
wou...
Nearly 70% of wealthy investors have reallocated
investments, or began altering or already altered relationships
with inve...
Women Are Using It
Women are leading men in terms of social media adoption in
the United States: 74% of women in North American have a
social...
Women lead the way
Women spend more time on social media networks than men.
Compared to men, women’s behavior on social media is more
relationship-driven: They spend more time on social networks bui...
Your Peers Are Using It for Business
7/10 financial advisors are already using social networks for
business purposes and this adoption rate will only continue ...
In 2013, 69% of financial professionals have formal
social media policies at their firm, a significant increase
from 2011....
60% of financial advisors have daily contact with clients through social
media, with 54% citing that they found or convert...
15.4% of advisors have gained new clients from
using social media.
At the 2013 Social Media Summit hosted by Jennifer
Open...
The Next Generation is Using It
4
¾ teens visit social media sites on a daily basis.
Young people still use search engines to get information from websites,...
38% of young millionaires compared to 4% of millionaires of all ages
state they are more inclined to rely on financial pro...
Fact: How financial advisors use social media to
communicate with clients will, indeed, impact young
millionaires’ decisio...
Your Big Targets Are Using It
5
Only 13% of directors and senior executives don’t have at least
one social media account and 63% of them use social media ...
Over 90% of high net worth investors participate in social media.
These investors tend to do research online before making...
“If	
  you’re	
  not	
  on	
  social	
  media,	
  you	
  	
  don’t	
  
exist.”
-­‐	
  Jeremy	
  Ransom,	
  Texas	
  Tech	
...
ABOUT
FOLLOW	
  US:
It’s free.
Compliance Controls
Monitoring, tracking, and archived
reports for all social media activit...
Sources:
[1] Forrester Research - North American Technographics® Financial Services Online Benchmark Recontact Survey,
Q3 ...
[13] 2010 Prudential high net worth investors report
[14] Wells Fargo’s First Clearing brokerage and the Cannon Financial ...
5 Reasons Social Media Matters to Financial Advisors
5 Reasons Social Media Matters to Financial Advisors
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5 Reasons Social Media Matters to Financial Advisors

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5 Reasons Social Media Matters to Financial Advisors

  1. 1. 5 Reasons Social Media Matters to Financial Advisors
  2. 2. Your Clients Are Using It: Trends of investors using social media
  3. 3. 68% 32% Those with least one social media profile Yes No Yes No =  U.S.  online  adults  with  an  investment  account   68% of U.S. online adults with an investment account now have social network profiles
  4. 4. Nearly 2/3 of mass affluent consumers take action after using social media to discover and consider financial products and services
  5. 5. 2/3 of millionaires surveyed said they would like to use electronic media with their advisors.
  6. 6. However, there is a huge gap between investors who interact with their advisors on social media (4%) and investors who would interact with their advisor on social media (52%).
  7. 7. Nearly 70% of wealthy investors have reallocated investments, or began altering or already altered relationships with investment providers based on content found through social media.
  8. 8. Women Are Using It
  9. 9. Women are leading men in terms of social media adoption in the United States: 74% of women in North American have a social media account vs 70% of men.
  10. 10. Women lead the way
  11. 11. Women spend more time on social media networks than men.
  12. 12. Compared to men, women’s behavior on social media is more relationship-driven: They spend more time on social networks building relationships and making new friends. Women are referral machines – who enjoy giving feedback and making recommendations on social networks.
  13. 13. Your Peers Are Using It for Business
  14. 14. 7/10 financial advisors are already using social networks for business purposes and this adoption rate will only continue to grow.
  15. 15. In 2013, 69% of financial professionals have formal social media policies at their firm, a significant increase from 2011. Do  you  work  for  a  firm  with  a  formal  social  media  policy  or  guidelines?
  16. 16. 60% of financial advisors have daily contact with clients through social media, with 54% citing that they found or converted clients using social media channels.
  17. 17. 15.4% of advisors have gained new clients from using social media. At the 2013 Social Media Summit hosted by Jennifer Openshaw, we asked top financial advisors: “How long were you using social media before you could see a discernible difference in your business?” The answer is between 6–12 months.
  18. 18. The Next Generation is Using It 4
  19. 19. ¾ teens visit social media sites on a daily basis. Young people still use search engines to get information from websites, but more and more are now asking and searching about products and services through social media.
  20. 20. 38% of young millionaires compared to 4% of millionaires of all ages state they are more inclined to rely on financial product and service information advertised or discussed on social media platforms. Do  you  rely  on  *inancial  product  and  service  information  advertised  or   discussed  on  social  media  platforms?   Young millionaires Millionaires of all ages 4%38%
  21. 21. Fact: How financial advisors use social media to communicate with clients will, indeed, impact young millionaires’ decisions about hiring a new financial advisor.
  22. 22. Your Big Targets Are Using It 5
  23. 23. Only 13% of directors and senior executives don’t have at least one social media account and 63% of them use social media for business purposes.
  24. 24. Over 90% of high net worth investors participate in social media. These investors tend to do research online before making their investment decisions.
  25. 25. “If  you’re  not  on  social  media,  you    don’t   exist.” -­‐  Jeremy  Ransom,  Texas  Tech  personal   financial  planning  student   Images  and  researches  by  Sherry  Chen,   MarkeCng  Manager  at  Finect,  the  only   place  online  for  investors  and  financial   professionals  to  network  while  remaining   compliant. Contact:  Sherry.chen@finect.com
  26. 26. ABOUT FOLLOW  US: It’s free. Compliance Controls Monitoring, tracking, and archived reports for all social media activities including Twitter/Facebook/LinkedIn One-stop Social, Connect Build  Advisor-­‐Client  RelaIonships  with  a   Private-­‐Labeled  MarkeIng  Portal*   Document Library Using one-stop social media to connect with investors, advisors, asset managers, listed companies and financial institutions Boost  online  reputaCon  by  posting research, investment insights, presentations, brochures, and/or prod to Library
  27. 27. Sources: [1] Forrester Research - North American Technographics® Financial Services Online Benchmark Recontact Survey, Q3 2011 (US) [2] LinkedIn & Cogent Research – Influencing the Mass Affluent [3] Cogent Research of 4,000 investors with more than $100,000 in investable [4] Fidelity Investments survey 2011 [5] Cogent research – Social Media’s Growing Influence Among High Net Worth Investors 2012 [6] Burst Media 2013 [7] Pew Research Center - Internet & American Life Project Spring Tracking Survey, April 17 – May 19, 2013. [8] Nielsen- The social media report 2012 [9] KRC research- The women of social media 2012 [10] Nielsen , Women of Tomorrow 2011 [11] Bureau of Labor Statistics 2012 [12] 2012 Virginia Tech Study
  28. 28. [13] 2010 Prudential high net worth investors report [14] Wells Fargo’s First Clearing brokerage and the Cannon Financial Institute. 2012 [15] LinkedIn – Financial advisors’ use of social media [16] American Century Investments – Financial Professionals Social Media Adoption Study 2013 [17] Accenture – Closing the Gap How Tech-Savvy Advisors Can Regain Investor Trust 2013 [18] InvestmentNews- Advisers & Social Media Survey 2013 [19] Financial Advisor Magazine & Finect’s Webinar – Strange Bedfellows – Compliance and Social Media [20] PewResearchCenter - Teens, Social Media, and Privacy 2013 [21] Spectrem Group - Millionaire 2012, Volume 3 -Relationships with Advisor [22] Spectrem’s Millionaire Corner - wealth level study 2013 [23] Stanford University - What Do Corporate Directors and Senior Managers Know about Social Media 2013 [24] Cogent research – Social Media’s Growing Influence Among High Net Worth Investors

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