- 50% of financial advisors say their companies impose no restrictions on using social media for business purposes from any location or device. - Advisors see social media's role in marketing increasing as it is a faster and more cost-effective way to reach clients. - The majority of advisors use LinkedIn for business purposes like cultivating new clients and relationships. Many have increased their LinkedIn usage as they better understand how to leverage it.

1. 50%of advisors say their company imposes no
restrictions on location or device to access social media
for business purposes
Advisors say social media’s
marketing role will increase
because it’s a faster, more
cost-effective way to reach
clients.
58%
at home
44%
on mobile devices
85%
at work
THE SOCIAL ADVISOR
Financial Advisors and Social Media:
Making the Connection.
Putnam Investments partnered with FTI Consulting to learn
about the social media behavior of financial advisors.
ACCESS GRANTED
49%of advisors
acquired
new clients
Of those,
29%gained
$1 million+
in new assets
The typical financial advisor who uses
social media on a daily basis
Typical assets
from new social media
client: <$500K
10+ years of
experience
“If you want to work with
30-year-olds, you need to
use social media.
”
Top 5 reasons why
advisors are increasing
their use of LinkedIn
ROOM FOR IMPROVEMENT
COMPANY POLICIES MAKE LINKEDIN SOCIALLY ACCEPTABLE
66%of those who expect
their use of LinkedIn
to increase say their
target audience is
active on LinkedIn
22%
want more
education, training,
and tools
81%of advisors using
social media prefer
LinkedIn for business
1%
8%
10%
75%
of financial advisors
use at least
one social network
for business
95% 31% 29% 21%
USED IN THE PAST YEAR FOR BUSINESS PURPOSES
CULTIVATING NEW CLIENTS
61% 42% 60% 58%
USE HAS INCREASED YEAR-OVER-YEAR
TOP USES DIFFER BY NETWORK
Improve the effectiveness
of referral network
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.
Putnam Retail Management 283425
Cultivate specific
prospective clients once
they are identified
Enhance current
client relationships
67%of advisors use
LinkedIn to cultivate
clients by requesting
introductions to
new leads
93%
of advisors
can accept
connections
87%
may list their
firm name
on their profile
85%
are permitted to
access it at work
63%communicate
with new leads
59%
of advisors have increased
usage because they now
have a better understanding
of how to leverage
LinkedIn for business
66%
43%
28%
18%
35%
44%
20% 20%
44%
69%
28% 28%
39%
want reduced
compliance
requirements
Top LinkedIn activities for advisors
90%accept
connections
76%
request
connections76%list firm name
on profile
65%
join groups
57%post content
updates
HOW ADVISORS USE SOCIAL MEDIA
LINKEDIN IS OPEN FOR BUSINESS
SOCIAL MEDIA IS HERE TO STAY
The people I am trying to reach are active on this network.1
5
2
4
Book of business:
<$150M
Typical client
portfolio: <$1M
Fee-based
independent
broker/dealer
ADDING CONNECTIONS AND ASSETS
I now have a better understanding of how to best leverage
this network for business.
It has helped me achieve my desired results.
3 It is more suitable for my needs than a different social network.
I have more of a business need to use it than before.
Improve referral
network
Build brand
identity
Expand professional
network
47%
9%
4% 4%
43%
13% 8% 5%
38%
7%
5% 6%
44-year-old male
Response = 305 advisors.
Among financial advisors using specified social networks.
Among financial advisors using LinkedIn as their primary social networks.
Uses social media to build
referral network, brand,
and relationships
66%of LinkedIn users
use it to prospect for
new relationships
69%of Facebook users
use it to sustain
relationships