5 Ways Financial Advisors Can Leverage Social Media to Boost Their Business - PreciseFP

5 Ways Financial Advisors Can Leverage Social Media to Boost Their Business

As clients in the financial advising business become younger, it’s more important than ever to reach out to them using their preferred methods of communication. 79% of millennials and Gen Z get financial advice from social media. If you’d like to become a trusted source of information, you need to be part of the conversation.


5 Tips for Social Media Content


1) Create an online presence

A cohesive social media plan helps you become a familiar, trusted voice so current and future clients know what they can expect when they work with you. Your online presence should be consistent so your brand is easily recognized. Before you begin posting on social media, make sure your website is current and represents your brand. Then you can repurpose content from your website on social media.

2) Share valuable content

In the crowded social media world, your content should be unique, relevant, and targeted. Think about your clients and business associates and your conversations with them. What questions do they ask? What issues affect your clients? What are your clients most concerned about, and how can you solve their problems?Your perspective can position you as a thought leader. When you share content that helps people find answers to their questions, current and future clients will understand what they can expect when they consult with you.

3) Engage with your audience

If you can build a relationship with your audience, you can establish trust. Show your readers their feedback is valuable by creating opportunities for them to engage with you. You can do this by varying the format of your posts. Try polls, stories, videos, live streaming, guest posts, takeovers, Q&As, GIFs, surveys, infographics, behind-the-scenes tours, and more.

4) Join professional groups

Following professional groups on social media helps you stay current with industry trends. It may also increase your following as you participate on other financial experts’ pages and lend credibility to your brand.

5) Promote opportunities to build rapport

Creating great content is more than sharing information you hope others will read. It also means engaging with smaller groups to build trust with your audience. For example, you could host a webinar, coaching session, live chat, or small group discussion. You could also team up with other financial experts and share your expertise.


5 Tips for Success


1) Strike the right tone

Whatever tone you choose, it should represent your brand well. The brand voice you choose may vary depending on the type of client you want to attract, but it should be consistent, professional, and friendly.

2) Complete your profile with links to your website

Your clients need to know where to find you. Your contact information should be easy to find. Link to your professional profile and website from your social media and vice-versa.

3) Keep a regular posting schedule

Consistency is important when you’re posting on social media. Your audience may think you’ve abandoned your channel if you don’t post regularly. How frequently you post may depend on the platform you’re using, how much time and money you can invest in social media, and your audience’s preferences. Quality is more important than quantity; regular posting helps keep your content visible to your followers. You can pre-schedule your posts to help you stay on schedule.

4) Watch your metrics

Social media platforms provide analytics to help you track your numbers. For example, you can track which times of day and types of posts are most successful. This information can then be used to help you set goals and marketing budgets in the future.

5) Be mindful of compliance and security

The Financial Industry Regulatory Authority (FINRA) established rules for financial advisors communicating with the public, and it’s important to follow these guidelines to keep your firm in compliance. For example, you must archive your social media communication (including comments) for three years, and all static content must be reviewed by a firm principal. You also are required to avoid linking to third-party websites with false or misleading information, and claims must be appropriate and accurate. Violations of these rules could lead to serious consequences, including fines and suspensions, so you need to be aware of these regulations and train your staff to follow them.

Sharing your expertise through social media can help you connect with your audience, but to do so effectively, you need a plan. As you create content, you can build a relationship with your audience and help future investors learn to trust you as a financial expert.

As you find new clients, the onboarding experience is crucial in creating first impressions. PreciseFP can help you streamline your client onboarding process to make it as smooth and seamless as possible. Contact us to learn how to create a client-centered onboarding experience.

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