Social Media Benefits Financial Advisors, 2014 Study Shows

Did you know that financial advisors who use social media and digital marketing in their businesses are gaining more and wealthier clients than they were even a year ago?

Putnam Investments released a 2014 study last week, from a survey of over 700 experienced advisors, which proves social media is on the rise! And not only is it more prevalently used, but it’s also growing in proven results.

INCREASE IN NEW CLIENTS : 66% of financial advisors have gained new clients through social media, up from 49% a year ago.

INCREASE IN AUM : 39% of respondents who reported gaining new clients through social media gained new assets of more than $1 million, with an average gain of $5.5 million. (The median booking was almost $2 million in new assets, close to triple the level reported by the 2013 respondents.)

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“We’re seeing a remarkably rapid and dynamic evolution of social media use as advisors test ways to make this work for their practices,” says Mark McKenna, head of Global Marketing, Putnam Investments. “A year ago, the focus was almost entirely on business content and professional networking. Increasingly, advisors are leveraging the more personal side of social media and getting results.”

See more staggering 2014 statistics from this study in the infographic below!

In person, face-to-face networking is of course still very important for client development. But with the prospective clients of your firm socializing online more than offline, a professional will fall drastically behind if they fail to leverage the power of blogs and social networks for business growth.

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Amy McIlwain

President at Financial Social Media

Author, speaker, and President at Financial Social Media, Amy McIlwain speaks at events around the world ranging from audiences of 1000 to small executive boardrooms. She's appeared on FOX, CBS, ABC, and NBC as a social media expert and her book, The Social Advisor: Social Media Secrets of the Financial Industry, has been featured as a best-seller in the Amazon business category. Hire Amy to speak at your next event! Visit www.amymcilwain.com

@amymcilwain

International Speaker, Author, Financial Social Media Expert, VP Social & Digital @MooreCommGroup. Former DI Soccer Player, Avid Traveler & Clumsy Salsa Dancer.