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Twelve Benefits of Social Media for Financial Advisors


Social media isn’t a stand-alone solution for all things business development. The industry’s top acquirers still rely heavily on essentials like generating referrals, prospecting in their communities and finding effective referral alliances. They do so because that’s how their affluent prospects make decisions. When looking for a financial advisor, they either look to their natural network or they ask for recommendations.

So why social media? First, social works to amplify the more traditional strategies, helping you deepen client relationships and be seen as a thought leader in the community. This primes the pump for retention, referral flows and your ability to socially prospect.

We think the biggest case is longer term, building an online presence now that helps you thrive in a more digital future. In 2020, more investors under 45 years old (with $500,000 investable) started their search online than by asking for recommendations. This trend is real and it’s happening fast.

We get so many questions about “why social” that we thought it might help to lay out our case in full detail. We hope the following list inspires you to go big with social.


Stephen Boswell is a partner with The Oechsli Institute, a firm that specializes in research and training for the financial services industry. @StephenBoswell

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