October 16, 2012
--- Advisers can use social media to build more personal
relationships with clients, speakers said during the Securities Industry and
Financial Markets Association (SIFMA) social media seminar. ---
Jay Gordon, chartered retirement planning counselor and
financial adviser at The Popper Gordon Group at Morgan Stanley Smith Barney,
told seminar attendees that on his LinkedIn profile, he includes a summary of how he can help clients: "It's a good time to
talk with us if … You wish to
consolidate scattered retirement accounts from former employers; you administer
your company's 401(k) plan and need help managing your fiduciary
responsibilities; your current adviser is not meeting your expectations..."
reviews clients' profiles the day before meeting with them to gauge whether that client's
LinkedIn connections could also benefit from services such as 401(k) rollover. LinkedIn makes it easy to determine whether someone has changed jobs
with its "new job" notification feature, panelists added.
Betsy Billard, a
chartered retirement planning counselor and private wealth adviser at
Ameriprise Financial, said she uses Facebook to be notified of clients' and
prospective clients' job changes. For Billard, Facebook is a great prospecting
tool that she said is unique because of its "like" feature.
Gordon said Facebook
gives advisers a way to engage with clients in ways they normally would not because it is more personal. "It makes the
relationship quite a bit warmer," he said.
does not have a Twitter business page, but she said many clients have found her personal Twitter account. She follows more than 800 people and
organizations representing a wide range of her interests—anything from
financial publications to the Yankees—which she said provides more personal
interaction with clients by discussing shared interests.