Financial advisers use social media to gain insight

Next Story

Is internet use safe for adolescents?

More financial advisers are now starting to realise the value of social media, revealed a new study by American Century Investments.

In 2010, more than one fifth of financial advisers considered social media to be a fad with little long-term value. Now only 13 per cent of them see social media as a fad, with 61 per cent ranking its overall value to their business as medium or high.

Moreover, 56 per cent believe that social media has significant business potential, which is a marked improvement from 2010’s 44 per cent. The study also showed that the number of financial advisers who believe they are utilising social media to their advantage has increased from 11 per cent in 2010 to 30 per cent.

“If leveraged correctly, social media has proven to produce tangible business results, yet only 7 per cent of advisers surveyed chose business building and promotion as their top use of social media,” noted Jamie Needham, American Century’s digital marketing strategist.

The top reason for using social media cited by those surveyed was to gain insight and read expert commentary. Other uses of social media included monitoring and sharing industry news, researching clients, brand building and business promotion.

Meanwhile, regulatory and compliance issues emerged as the main concerns holding financial advisers back from engaging in social media. Other concerns cited included the potential for breach of privacy and company restrictions on the use of social media.


HP ProLiant DL380 G6 Server Dual Xeon X5670 6C 2.93GHz 256GB 4x 300GB SAS RPS picture
HP ProLiant DL380 G6 Server Dual Xeon X5670 6C 2.93GHz 256GB 4x 300GB SAS RPS
HP ProLiant DL360 G6 Server Dual Xeon X5650 Six Core 2.66GHz 64GB RPS picture
HP ProLiant DL360 G6 Server Dual Xeon X5650 Six Core 2.66GHz 64GB RPS
DELL POWEREDGE R510 12B SERVER TWO X5570 2.93GHZ 48GB 4 X 1TB SATA H700 picture
DELL POWEREDGE R510 12B SERVER TWO X5570 2.93GHZ 48GB 4 X 1TB SATA H700
Dell Power Edge 2850 Server With Dual 2.8 Ghz Tested picture
Dell Power Edge 2850 Server With Dual 2.8 Ghz Tested
MacPro 1.1 INTEL XEON 5150 2.66 GHZ Dual Core Processors (1Pair) picture
MacPro 1.1 INTEL XEON 5150 2.66 GHZ Dual Core Processors (1Pair)