A successful social media strategy will take time, so make your efforts as efficient as possible.
“There's no doubt that social media can be time consuming,” says Robert Sofia, co-founder of coaching firm Platinum Advisor Strategies. Don't let this overwhelm you, he adds. “You shouldn't feel like you need to be on social media all day.”
The remedy? Budget your time. “Budget a mere 15 minutes in the morning and 15 minutes at the end of the day to update and review your profiles,” Sofia says. He also recommends hiring an outside company to create some posts and status updates for you, which you can then supplement with your own posts.
“While you should be using social media, your time is better spent in front of current and potential clients,” Sofia says.
For busy advisors, Maggie Crowley, marketing coordinator for Advisor Websites offers another option. “One way to lighten the load, so to speak, is to use a tool like
Hootsuite is an automated service that allows users to schedule posts in advance from multiple social media channels. “For instance, you can write one message that will be posted on Facebook, Twitter and LinkedIn, at whatever time you choose,” Crowley says. Other social media dashboard applications like Tweetdeck, SocialOomph and NetVibes offer similar capabilities.
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Brokerages are too dependent on the billions they make every year from clients' uninvested cash, industry analysts say. LPL is responding with a long-term review of its pricing.
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Two presentations at The American College of Financial Services' CAAFP discussed how successful careers in the industry require both technical and emotional skills.
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One advisor calls the expected transfer a mirage; others say it may simply unfold more slowly and require more intentional planning.
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RIA owners may feel a "moral dilemma" when considering selling their firms to private equity-backed acquirers. But that didn't prevent PE involvement from reaching a record high in M&A deals in the second quarter.
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Trust protectors can help protect against irresponsible trustees and other dicey situations that could put grantors' wishes at risk, estate lawyers say.
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In a webinar last week, Humanity Labs CEO Andrei Pop discussed "the transformative power" he said Mariner's new AI workforce will bring to the firm.
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