Leveraging Social Media to Increase Your AUM
Facebook tends to take the spotlight when it comes to social media, but if you are a financial advisor looking to maintain a strictly professional online presence, LinkedIn is the real frontrunner. A recent survey administered by the site points to the vast opportunities that advisors have in using this network.
Below are some statistics from the survey that show the potential for financial advisors:
- 32% of the financial advisors who gained clients from LinkedIn added $1 million or more in new assets under management
- There are 5 million “affluent investors” with $100,000 or more in investable assets and 73% of them use LinkedIn to research investment decisions
- 52% of these affluent investors say that they would interact with financial advisors via social media, but only 4% currently are actually being engaged by financial advisors online
These statistics prove that there are a significant number of untapped, high net-worth investors just waiting to be approached by advisors on LinkedIn.
Financial-Planning.com posted a recent article detailing short steps to reach out to prospective clients: 9 Steps to Grow Your AUM With LinkedIn
- Make the most of the advanced search function
- Avoid typical search terms like finance or investment
- Strategically analyze search results to form a plan of action
- Reach out and begin a conversation
Using social media is now mainstream for professional services companies, especially those that are fueled heavily by networking. Savvy investors and advisors understand the effect social media has on their connections and know that its influence will only continue to grow from here.
Have you thought about using LinkedIn but don’t know how to get started? There are plenty of online resources that can help. You may also benefit from our Social Media NOW! package. If you are still feeling overwhelmed, don’t hesitate to reach out to a professional. Social media is fun – and has the potential to increase your bottom line!