Deals & People August 16, 2012

Lockton’s Southeast Region Hires Retirement VP

Tom Simonson has been named a vice president of Lockton Financial Advisors/Lockton Investment Advisors in the insurance broker’s Charlotte, North Carolina, office.
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Simonson, a consulting and growth expert, will be responsible for client advocacy and new business development for retirement services, a part of the employee benefits consulting practice.

Simonson brings more than 15 years of experience in retirement services. Immediately before joining Lockton, he served as a principal at Mercer for nine years in the defined contribution (DC) Advisors practice. He led new business development and client management for 401(k)/403(b) plan sponsors while providing oversight to Mercer’s South and Midwest markets and serving on their national leadership team. Previously, Simonson was vice president of sales, retirement services, for Principal Financial Group. 

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Simonson’s focus will be establishing and enhancing marketing partnerships, centers of influence, networking groups, vendor partners, tactical initiatives and client contacts. 

Simonson holds a bachelor’s degree in business administration in finance from Iowa State University and a master’s of business administration from Wake Forest University. 

 

In Practice August 16, 2012

Nearly 1 in 5 Has Found a New Client via Social Media

Nearly 80% of advisers have some business presence on social media, but 56% are “tiptoeing into it,” SEI found in a survey.
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The biggest stumbling block to using social media is not compliance concerns, but “coming up with frequent and relevant content,” cited by 37%. Thirty percent said they hesitate to use social media because of broker/dealer concerns, while 15% pointed to uncertainty over the “future regulatory environment.”

Nonetheless, 94% of the 185 advisers surveyed said they plan to increase their use of social media in the coming year. Only 24% said they were “mildly active” in their use of social media, and 19% have no social media presence.

“Savvy advisers are beginning to realize social media is as much a business development tool as it is a communications vehicle,” said John Anderson, head of practice management for the SEI Advisor Network. “What this survey shows is that advisers have the opportunity to see real business returns if they can begin to put social media plans, processes and policies in place, rather than just using it sporadically.”

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Tim Shanahan, chief executive of Compass Capital in Braintree, Massachusetts, said, “Most advisers have moved past their initial concerns about social media. We, like many advisers, now realize that social media is a powerful tool that can help us target specific groups and individuals to uncover business opportunities—especially younger clients.”

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