SIFMA Panel: Advisers Can Gain Social Media Influence Without Becoming ‘Finfluencers’

Financial advisers may cringe at the label “finfluencer,” but experts say there are communication lessons to be learned from financial influencers. Speakers at this week’s Social Media and Digital Marketing Seminar, organized by the Securities Industry and Financial Markets Association in New York, argued that advisers can no longer rely on expertise alone to attract clients.

During a discussion moderated by Mitch Slater, executive director and chief visibility officer in adviser marketing at UBS, financial advisers and wealth management executives from Merrill Lynch, RBC Wealth Management, Oppenheimer & Co. and Edward Jones discussed how financial professionals can engage online audiences without sacrificing trust, compliance standards or professional expertise.

“Being really good at what you do is no longer always enough,” Slater said. “People have to know you exist. But visibility without credibility is just noise.”

While panelists agreed that credibility remains the foundation of financial advice, they said advisers can benefit from creating content that is authentic, relatable and easier for investors to understand.

Credibility Versus Popularity

When asked whether credibility or popularity matters more, panelists largely agreed advisers need both, though credibility comes first.

“Credibility is the foundation,” said Morgan Newman, director of investments at Oppenheimer & Co. However, she added that expertise alone may not be enough to capture the attention of audiences and potential clients through social media feeds. “Credibility and credentials don’t make someone stop scrolling.”

Yet advisers should resist the pressure to create content solely to go viral, according to Sean Howe, senior vice president at RBC Wealth Management.

“What matters is if you can speak from a place of authority and expertise,” he said.

Panelists also highlighted that successful content is less about self-promotion and more about creating genuine connections.

Newman said advisers can be human without making content overly personal, noting that she worked with a brand strategist to develop a communication style that reflected both her expertise and personality.

Howe offered a similar example, describing how his content series gained traction after he began incorporating his personal interests in fitness and nutrition, leading to a popular “Wellness Wednesday” series on LinkedIn. The point was not to become an influencer, but to connect with audiences through relatable topics.

More Human Communication

Several panelists said traditional styles of communication in financial services often miss the mark because they rely too heavily on industry jargon.

Angelica Prescod, a financial adviser at Edward Jones, said appearing on camera taught her to focus on what audiences want to hear, rather than what advisers want to say. She urged advisers to avoid industry acronyms and technical language, instead communicating directly with clients in terms they understand.

“When I’m talking on screen, I’m looking at you. Even though there’s a red light, there’s someone on the other side that’s about to make a mistake, and I need to be that voice [of reason],” she said. “Money touches everybody, so we need to be able to explain it in a way that everybody can understand.”

Prescod said two of her content series that employed direct communication—“Money Monday” and “Self-Care Saturdays”—generated extensive media exposure across television, online news and social media platforms.

Marissa Baldoni, a vice president of wealth management at Merrill Lynch, summarized the approach simply, saying, “The goal isn’t perfection; it’s connection.”

While concerns persist about “finfluencers” spreading misinformation, panelists stopped short of dismissing them outright. Newman said investors are constantly exposed to online information, and advisers should understand which content speaks to their clients.

Learning what clients are consuming can help advisers address financial misconceptions and provide context, she said. As for “finfluencer” content, Newman noted that consumers should remember that “there’s no free lunch” and that many content creators are ultimately selling something.

After hosting content on LinkedIn, Howe said he has generated something more meaningful than prospective client interest.

“It’s not people on the phone saying, ‘Hey, I saw your Wellness Wednesday post, how do I become a client?’” Howe said. “It’s actually led to enriching conversations with current clients.”