The bottom line from financial advisors is that social media, so far, does not necessarily produce the much-hyped benefits of better brand awareness, competitive differentiation and revenue growth in their practices, according to a new Aite Group study.
One-fifth of advisors surveyed said social media was unimportant to their practice. Another 40% said they were neutral about its importance. Aite Group surveyed 437 advisors in the first quarter for the study, and compared the results to a prior survey conducted in 2009.
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