How financial advisors can build client relationships using social media

November 27, 2014

For financial advisors looking to build relationships with existing clients and attract new ones, social media is an increasingly useful tool for reaching out and engaging with people. It can make a tangible, concrete difference to your business.

So how should financial advisors leverage the shifting media landscape to their advantage, one where people are becoming more and more likely to use social media to get financial data and information? What’s the best approach to take to build relationships and your business?

You may know that different social media sites target different demographics – Instagram, for instance, is popular with teens. Financial advisors can use the more expressive and mature environments of Facebook and Twitter to delve a bit deeper into their products and services and what they can offer people.

For example, posting a weekly Top 10 investment recommendations on these sites might be one way to draw people in and attract new business. A great way to interact with clients is to go into detail on how you arrived at various recommendations or the added benefits of various financial products. People love getting useful information for free, and the beauty of social media is there’s a massive user base for you to engage with.

That’s not to say, however, that you can’t be fun. An accountancy firm, for example, might use Instagram to give potential clients a more rounded look at who they are and what they do – a behind-the-scenes glimpse into the independent financial advisor industry. It could be something as simple as posting pictures of an employee’s birthday. You may think that’s trivial, but it may receive likes, shares and comments so that you get noticed on social media sites.

Remember that your goal is to engage people and get a positive reaction to what you’ve posted. So don’t be afraid to open up, especially on the more lifestyle-oriented sites. In reality, if your posts are overly corporate or just plain dull, most viewers will be so turned off that they won’t give them a second glance, so your efforts will have been in vain.

As you build up a rapport with people on social media, offering continual insights and suggestions, there’s every likelihood that you will take on a more distinctive identity as a financial advisor. The choice between you and a competitor could boil down to which firm the client feels more able to identify with. Supplementing the real business of connecting in this professional way with a more engaging approach, then, could help to build up an online identity that translates into new clients.

Explore and take advantage of the full spectrum of sites, including the professional network LinkedIn, which is great for making new contacts, the cornerstone of any business: reach out, post – do all you can to build your business by harnessing the immense power of social media.


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