A Social Media Marketing Opportunity Advisors Are Ignoring

Monday, November 14, 2011 11:52
A Social Media Marketing Opportunity Advisors Are Ignoring

Tags: client education | Social Media

While advisors are talking a lot about social media, they are not doing it. In surfing personal finance blogs this morning, I could not help but notice a dearth of comments by financial advisors. 

This Website Is For Financial Professionals Only

For example, check out this post on Mint about retirement planning tools. The post covers variable annuities, target date funds, TIPS and other retirement solutions. Though the entry was posted 10 days ago, it’s only attracted one comment, and that’s from a new retirement planning app that wisely posted a link to its site.
Another example is an article by a Mint columnist entitled, Beat Inflation With Bonds. Posted on October 25, it is one of the most popular articles on the site and 14 comments have been posted to this entry—not one of them from an advisor.
While advisors are all gassed up about social media, they are not actually getting in there and getting involved with it. If they were, we’d see more advisors involved in discussions on personal finance websites like Mint.
I wrote last week about vendors and “experts” that know little or nothing about social media are nonetheless riding the wave of hype surrounding this topic and offering advisors advice about how to use social media.
The dearth of comments by advisors on consumer personal finance sites is evidence that advisors still have no idea about how to utilize social media.
If they did, we’d see advisors posting comments on topics about which they are experts.
Posting comments on personal finance blogs is a good opportunity to boost your social media profile on the Web by offering consumers useful information.


Comments (4)

It's not that advisors don't know how to utilize social media. FINRA and BD guidelines handcuff participation in public blog or forum comments. It's not that I wouldn't like to participate. I can't. In fact, the firm just recently permitted advisors to create a Facebook fan page and LinkedIn profile but only if they have an account with Socialware so all activity can be archived.

So yes, there is progress. But there are still many barriers to break through before social media becomes a meaningful way to communicate.
lynns330 , November 19, 2011
Thanks for the "hot tip" Andy. Went and posted my comment at the first article on retirement planning! Keep 'em coming!!!
timknotts , November 19, 2011
Lynn: Yes, you're right. You face more restrictions than investment advisors. But Socialware should be able to capture everything. When you post a comment to an external website, Socialware should be able to capture it. If not, that's a prblem the company -- and other social media archiving platforms -- will need to address soon.
agluck , November 21, 2011
Tim: Please let us know how it works for you.
agluck , November 21, 2011

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.