Why Advisors Still Don't Use Social Media

Why Advisors Still Don't Use Social Media

Survey shows both fear and frustration are keeping them away

Advisors say compliance fears and prospecting frustrations are some of the key reasons they are not embracing social media. But most industry consultants say those justifications are preventing them from growing their business.

Over a third of advisors (37 percent) say they’re only a minimal user of social media for business purposes, according to a recent WealthManagement.com study sponsored by NFP. Moreover, almost half of 450 advisors surveyed (48 percent) spend less than

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