Advisors may still feel a bit awkward as well as worried about compliance when they use social media, but they’re definitely using it to build their brands and businesses, according to a new study by SourceMedia, publisher of Financial Planning, On Wall Street and Bank Investment Consultant.
A majority (51.4%) of nearly 900 independent, wirehouse and bank advisors surveyed say they rely on social media for both business and personal use. RIAs are the most enthusiastic users, with 52.7% saying they use it for business and personal reasons, followed by 46% of bank advisors and 37.8% of wirehouse and regional firm advisors.
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