Category Archives: Social Media

Meet Generation D

A select group of advisors is already utilizing social media to target a vast new emerging market: Generation D.

Gen D consists of investors to whom digital communication and interaction is second nature.  They are always plugged-in, and like to communicate digitally in real-time.  They also represent $24 trillion in investable assets.  Using social media (e.g. targeted LinkedIn searches or Twitter updates) to tap into this lucrative market is not an alternative—it’s the standard.  Any strategy aimed at Generation D investors that is not significantly leveraging social media is a non-starter.

As if $24 trillion wasn’t enough opportunity for you, there’s more. Much more.  Over the course of the next decade, there will be $750 billion in retirement Money In Motion up for grabs.   Without question the lion’s share will go to advisors who have already made themselves accessible and relevant to a Generation D audience.  You might start by exploring some of the strategies and methods for using LinkedIn to prospect and win new business.  Check out this webinar training “Using LinkedIn to Access the Affluent”  for in-depth tips and strategies.

Keep in mind that these unprecedented market opportunities are already in motion, and if you don’t get your share of the wallet one of your competitors will.  Put yourself in the optimal position to win this new business by becoming accessible and relevant via social media.

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Social Media: Transform or Fade Away?

Are you using social media to connect with your clients?

If not, you should.  A survey conducted late last year by Finect found that 87% of investors are on social media.  Of those, 27% are unable to find their financial advisor on social media, and another 22% do not believe their advisors are using social media.  Of the 13% of investors not on social media, 46% said they would be more likely to use if it would help them connect with their financial advisor in real-time.  Clearly, there are real opportunities here to make valuable touch-points with clients.

Jennifer Openshaw, president of Finect, summed up the findings on a call with media:

“With this survey, investors are sending a loud and clear message to the financial industry: We’re open to talking on social media.  We’re likely to listen and engage – if we can find you.”

In a recent ThinkAdvisor article, Openshaw discussed 4 trends advisors need to be aware of regarding social media.

  1. Transform or fade away: “If you’re not on social media, you don’t exist.”
  2. Be fast and furious: “You need to be current with the latest tech practices and keep up with the speed of technological change.”
  3. Be ready and be adaptable.
  4. Embrace the New World: “It’s very positive for firms to update compliance and technology to show they are staying current and protecting investors.”

The way elite advisors interact with clients and prospects is evolving.

Is your practice keeping up with developments in social media?

If the answer is no, you are missing out on important opportunities to connect with new affluent clients.

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