Financial Advisors Getting Social

For some of the more regulated professions like financial services, social media engagement with clients and new prospects can be risky if financial planners and advisors don't closely monitor the legal implications of how they interact online. Yet, financial advisors know from recent research that more than 70 percent of people with a net worth of $5 million or more are on Facebook and other social network sites. They also know that recent surveys by leading investment firms show that more than 66 percent of millionaires want to use social media to interact with their advisors. To help overcome the social engagement hurdles, a new social media toolkit has been developed for the financial services industry to help financial professionals boost customer retention rates and accelerate prospecting initiatives, all in compliance with the guidelines and statutes enforced by the Financial Industry Regulatory Authority (FINRA).

As part of the FINRA-compliant service, FMG Social automatically sends an ongoing series of FINRA-reviewed social posts to Facebook, LinkedIn, and Twitter on behalf of financial professionals. Each post links visitors to a video, article, or calculator that appears on the financial advisor's website or an FMG-provided landing page. In an industry where compliance is just as important as content, these resources can help generate digital referrals as more financial advisors and firms become influencers in the digital raindance.