©2012 the RUDIN GROUPWhat Ultra High-Net Worth andFinancial Services FirmsNeed to Know AboutSocial Media Marketing Strateg...
©2012 the RUDIN GROUP•Series created specifically to help high-net worth community manage for thefuture•Featuring industry...
©2012 the RUDIN GROUPAbout The Rudin Group• Integrated marketing, branding and communicationsstrategies for the financial ...
©2012 the RUDIN GROUPApril Rudin•Financial Services Industry Marketing Consultant•Ultra-High-Net Worth / High-Net Worth Se...
©2012 the RUDIN GROUPOur Agenda• The Risks of Neglecting SocialMedia Strategies• Understanding ―Next Gen‖ Wealth• Managing...
©2012 the RUDIN GROUPCharacteristics of theYoung and Wealthy•Value transparency, community andmobile convenience•Trust fri...
©2012 the RUDIN GROUPWhere Are They Found?
©2012 the RUDIN GROUPVirtually Everywhere –Via Mobile Platforms
©2012 the RUDIN GROUPSocial Media ActivityAmong the Young & WealthySource: Social Media and the Affluent Household 2011 Re...
©2012 the RUDIN GROUPIgnites (Financial Times)Survey Results
©2012 the RUDIN GROUPCharacteristics of “Boomers”• They value trust, loyalty and long-standing relationships• Represent 70...
©2012 the RUDIN GROUPThe Same, But Different…• Boomers are apt to rely on personal referrals rather thanperform actual res...
©2012 the RUDIN GROUPWhere Are We Now?Baby Boomers (ages 55 +)remain the largest group ofwealth holders.Established FAs ar...
©2012 the RUDIN GROUPSo Why Change?14Wealth is being createdand transferred at ayounger age.Polling Question: Doyou really...
©2012 the RUDIN GROUPMost Wealth ManagementIconography is DatedGo where you want
©2012 the RUDIN GROUPSo Are Its Platforms
©2012 the RUDIN GROUPHow Allocations of MarketingResources Have Changed
©2012 the RUDIN GROUPThat Will Leave A MarkUp to 98% of wealth inheritors changefinancial advisors as they have norelation...
©2012 the RUDIN GROUPHas the Ship Sailed?Yes. Sort of. Many firms shouldpivot toward attracting newclients rather than foc...
©2012 the RUDIN GROUPSocial Media: The New Way toConnect with Clients…20Which OnesShould We Use?...
©2012 the RUDIN GROUPHow Many People are Really onSocial Networking Sites?Source: Media Bistro/ Go-Gulf.com, May 2012
©2012 the RUDIN GROUPHow Do We Utilize Social Media?22Platform Unique Factors Strategies and Best PracticesLinkedIn Busine...
©2012 the RUDIN GROUPSocial Networks that arePopular with the UHNW23Facebook and Twitter usage is greatest among younger U...
©2012 the RUDIN GROUPGenerational Use ofSocial Networks Over the Years9%49%67%76%86%83%87%86%7%8%25%48%61%70%68%72%6%4%11%...
©2012 the RUDIN GROUPCommunicating viaSocial MediaSource: SpectremGroup “Use of Mobile Technology, Tablets, Online Tools a...
©2012 the RUDIN GROUPSocial Media Stats - Next Gen26Younger generations lead in the early adoption of…Social MediaSource: ...
©2012 the RUDIN GROUPPrimary Challenges toFinancial Services Marketing• Industry / Organizational Inertia• Available Resou...
©2012 the RUDIN GROUPRecent Findings onResource ChallengesResources for brand initiatives are lagging perceivedimportanceB...
©2012 the RUDIN GROUPKey InfluencersThe most important factors in advisors’ managerselection process?• Strong client servi...
©2012 the RUDIN GROUPStrategic Client Acquisition1. Look at your brand, its elementsand your own firm’s differentiators2. ...
©2012 the RUDIN GROUPActive Engagementvs. Passive Profiles• Integrate with offerings and focus on firm activities• Share s...
©2012 the RUDIN GROUPWhere it Can Go Wrong –HNW Social Media Miscues• Abandoned attempts at social media• No plan in messa...
©2012 the RUDIN GROUPA Few Social Media Best Practices• Develop templates for consistent online branding• Niche content – ...
©2012 the RUDIN GROUPROI for Social Media34
©2012 the RUDIN GROUPCreating a Referral NetworkNon-profitsT&E AttorneysReal EstateAttorneysMatrimonialAttorneysCPA FirmsF...
©2012 the RUDIN GROUPFOX Personal Financial Security and Compliance SeriesQ & A Discussion
©2012 the RUDIN GROUPApril RudinThe Rudin Groupapril@therudingroup.com - www.therudingroup.comtwitter: @TheRudinGroup201-4...
©2012 the RUDIN GROUPFINRA Regulations Pertinent to Social Media38
©2012 the RUDIN GROUP39FINRA Regulations Pertinent to Social Media
©2012 the RUDIN GROUP40FINRA Regulations Pertinent to Social Media
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Opal Financial Group Webinar--How To Use Digital/Social Media To Reach UHNW Investors

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Here is an overview of how and why wealth managers need to adopt a social media marketing plan to attract uhnw/hnw investors of all generations

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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.
  • I have spoken a lot about what to do. Let’s spend a few mins on what NOT to do!
  • Opal Financial Group Webinar--How To Use Digital/Social Media To Reach UHNW Investors

    1. 1. ©2012 the RUDIN GROUPWhat Ultra High-Net Worth andFinancial Services FirmsNeed to Know AboutSocial Media Marketing Strategies
    2. 2. ©2012 the RUDIN GROUP•Series created specifically to help high-net worth community manage for thefuture•Featuring industry experts andinnovators addressing critical issuesfacing wealth management firmsHNW MATTERS WEBINAR SERIES
    3. 3. ©2012 the RUDIN GROUPAbout The Rudin Group• Integrated marketing, branding and communicationsstrategies for the financial services industry.• Helps UHNW / HNW community create client acquisitionplans taking advantage of next generation /digitalplatforms and communications.Challenging ―Business as Usual‖ Practices
    4. 4. ©2012 the RUDIN GROUPApril Rudin•Financial Services Industry Marketing Consultant•Ultra-High-Net Worth / High-Net Worth Sector Specialist•Digital and Social Media Engagement and Client AcquisitionExpert• Multi-Generational Communications and Media RelationsStrategist• Frequent contributor to national media outlets includingThe Huffington Post, BusinessWeek, Bloomberg, Reuters,Fundfire, Family Wealth Report and AssetTV•High-Net Worth Advisory Board Chair for The Hedge FundAssociation (HFA)CONSULTANT TO THE STARSOF THE FINANCIAL SERVICES INDUSTRY
    5. 5. ©2012 the RUDIN GROUPOur Agenda• The Risks of Neglecting SocialMedia Strategies• Understanding ―Next Gen‖ Wealth• Managing Your Online Presence• Best Practices in Social MediaSocial Media Strategies forFinancial Services Firms: No Longer a Luxury
    6. 6. ©2012 the RUDIN GROUPCharacteristics of theYoung and Wealthy•Value transparency, community andmobile convenience•Trust friends more than their parents•Eager to rate their advisors and others•Don’t trust the ―suits‖Ready to take advantage ofaffinity investment opportunities
    7. 7. ©2012 the RUDIN GROUPWhere Are They Found?
    8. 8. ©2012 the RUDIN GROUPVirtually Everywhere –Via Mobile Platforms
    9. 9. ©2012 the RUDIN GROUPSocial Media ActivityAmong the Young & WealthySource: Social Media and the Affluent Household 2011 Report—Spectrum GroupUHNW = Net worth of between $5 million and $25 millionHNW = Net worth of between $1million and $5 million6% of UHNW3% of HNW6% of UHNW3% of HNW20% of UHNW19% of HNW33% of UHNW20% of HNW50 % of UHNW75% of HNWBlog9
    10. 10. ©2012 the RUDIN GROUPIgnites (Financial Times)Survey Results
    11. 11. ©2012 the RUDIN GROUPCharacteristics of “Boomers”• They value trust, loyalty and long-standing relationships• Represent 70 percent ($7 trillion) oftotal U.S. household net-worth• Watch more TV than any otherdemographics• Boomers value experience overproduct, need to know functionaloutcomes
    12. 12. ©2012 the RUDIN GROUPThe Same, But Different…• Boomers are apt to rely on personal referrals rather thanperform actual research (conversation, email, ortraditional print media)• If friends ―like‖ it they will, not inclined to seek outsideopinions• Boomers value experience over product, need to knowfunctional outcomesBoomers lag in mobile 25% ownsmart phones or tablets in 2011.Expected to grow to 39.8% in 2015
    13. 13. ©2012 the RUDIN GROUPWhere Are We Now?Baby Boomers (ages 55 +)remain the largest group ofwealth holders.Established FAs are typicallythe ones with the biggestbook of business13
    14. 14. ©2012 the RUDIN GROUPSo Why Change?14Wealth is being createdand transferred at ayounger age.Polling Question: Doyou really believe thatNext Gen individuals willfire their parents’advisors?
    15. 15. ©2012 the RUDIN GROUPMost Wealth ManagementIconography is DatedGo where you want
    16. 16. ©2012 the RUDIN GROUPSo Are Its Platforms
    17. 17. ©2012 the RUDIN GROUPHow Allocations of MarketingResources Have Changed
    18. 18. ©2012 the RUDIN GROUPThat Will Leave A MarkUp to 98% of wealth inheritors changefinancial advisors as they have norelationship, and don’t relate value toproperties of older generations
    19. 19. ©2012 the RUDIN GROUPHas the Ship Sailed?Yes. Sort of. Many firms shouldpivot toward attracting newclients rather than focus ondeveloping Next Genrelationships with existing ones.Now is the ideal time to revamp your overall marketing tocapture market share during a period of unprecedentedgenerational wealth transfer.
    20. 20. ©2012 the RUDIN GROUPSocial Media: The New Way toConnect with Clients…20Which OnesShould We Use?...
    21. 21. ©2012 the RUDIN GROUPHow Many People are Really onSocial Networking Sites?Source: Media Bistro/ Go-Gulf.com, May 2012
    22. 22. ©2012 the RUDIN GROUPHow Do We Utilize Social Media?22Platform Unique Factors Strategies and Best PracticesLinkedIn Business networking and relationship building,introductionsStructuring your profile and joining groupsFacebook Small Business/Personal branding/Consumer brands B to C, Business pagesTwitter Opportunistic, newswire, short burst in real-time Aggregating and curating content to attractYouTube Most AuthenticTeach and LearnLook + ListenIn five years, all websites will be videoGoogle+ Feasting on SEO and Adword content Struggling to be all thingsBlogging Thought-Leadership + POV, Complex ideas Content + opinion;Commenting and engaging with others
    23. 23. ©2012 the RUDIN GROUPSocial Networks that arePopular with the UHNW23Facebook and Twitter usage is greatest among younger UHNW.Facebook and LinkedIn are relationship-drivenTwitter is content-drivenSource: Spectrem Group “Use of Mobile Technology, Tablets, Online Tools / Social Media Vol. II” 2012
    24. 24. ©2012 the RUDIN GROUPGenerational Use ofSocial Networks Over the Years9%49%67%76%86%83%87%86%7%8%25%48%61%70%68%72%6%4%11%25%47%51%49%50%1%7%13%26%33%29%34%0%10%20%30%40%50%60%70%80%90%100%2005 2006 2007 2008 2009 2010 2011 201218-2930-4950-6465+Source: Pew Research Center/American Life Project
    25. 25. ©2012 the RUDIN GROUPCommunicating viaSocial MediaSource: SpectremGroup “Use of Mobile Technology, Tablets, Online Tools and Social Media Vol. II” 2012Younger UHNW investors aremore inclined to use socialmedia as a communicationtool and read their advisors’blogs.
    26. 26. ©2012 the RUDIN GROUPSocial Media Stats - Next Gen26Younger generations lead in the early adoption of…Social MediaSource: Media Bistro/Go-Gulf.com, May 2012
    27. 27. ©2012 the RUDIN GROUPPrimary Challenges toFinancial Services Marketing• Industry / Organizational Inertia• Available Resources• Compliance Culture• Reputational Risks
    28. 28. ©2012 the RUDIN GROUPRecent Findings onResource ChallengesResources for brand initiatives are lagging perceivedimportanceBiggest areas of concern:•Client acquisition and retention•Global economic conditions•Product-line strategy•Limited resources
    29. 29. ©2012 the RUDIN GROUPKey InfluencersThe most important factors in advisors’ managerselection process?• Strong client service• Useful website• Brand
    30. 30. ©2012 the RUDIN GROUPStrategic Client Acquisition1. Look at your brand, its elementsand your own firm’s differentiators2. Determine your own uniquedifferentiators = messaging3. Target messages and activitiesby client type or persona4. Design a social media strategyand detailed plan withaccountability and timing5. Execute the plan and monitor itsprogress. Make changes wherenecessary.
    31. 31. ©2012 the RUDIN GROUPActive Engagementvs. Passive Profiles• Integrate with offerings and focus on firm activities• Share successes via amplified social media platforms• Lather…rinse…repeat.
    32. 32. ©2012 the RUDIN GROUPWhere it Can Go Wrong –HNW Social Media Miscues• Abandoned attempts at social media• No plan in messaging– not niche-oriented• Inconsistent posting or blogging• Too much original content andnot enough curated material32
    33. 33. ©2012 the RUDIN GROUPA Few Social Media Best Practices• Develop templates for consistent online branding• Niche content – ―socialize‖ print materials fordigital distribution• Metrics and Analytics
    34. 34. ©2012 the RUDIN GROUPROI for Social Media34
    35. 35. ©2012 the RUDIN GROUPCreating a Referral NetworkNon-profitsT&E AttorneysReal EstateAttorneysMatrimonialAttorneysCPA FirmsFinancialServicesFirm35
    36. 36. ©2012 the RUDIN GROUPFOX Personal Financial Security and Compliance SeriesQ & A Discussion
    37. 37. ©2012 the RUDIN GROUPApril RudinThe Rudin Groupapril@therudingroup.com - www.therudingroup.comtwitter: @TheRudinGroup201-482-8369Thank You!
    38. 38. ©2012 the RUDIN GROUPFINRA Regulations Pertinent to Social Media38
    39. 39. ©2012 the RUDIN GROUP39FINRA Regulations Pertinent to Social Media
    40. 40. ©2012 the RUDIN GROUP40FINRA Regulations Pertinent to Social Media

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