According to the Putnam-sponsored Survey of Financial Advisors’ Use of Social Media conducted in partnership with FTI Consulting, nearly half of advisors using social media for business acquired new clients through social networking. Many shared their social media success stories.
- Referrals lead the list of success stories, with advisors making connections and establishing initial contact on social networks like LinkedIn and Facebook.
“I was able to reach out and meet with a C-level executive through a LinkedIn referral, when calling and emails were dead-ends.”
- Advisors are also using social networks as marketing resources, establishing new relationships simply by having an optimized, active presence.
“Updates assist me in knowing that clients have changed careers and the companies they work for, providing a follow-up opportunity.”
- A significant percentage of advisors are actively prospecting for new clients on social networks by asking for referrals from first-level connections on LinkedIn and researching potential clients’ interests and employment histories.
“I am able to pre-screen many clients on LinkedIn to see if they are a fit for our organization.”
Significantly, of the 49% of advisors who acquired new clients via social media, 29% gained new assets over $1 million.
Scroll over each category for a sampling of success stories from financial advisors, and where they see room for improvement.
The experiences of other users may vary from the featured survey results.