Over one-third of advisers are now using social media to connect with their clients, according to a survey commissioned by Zurich.
The survey of more than 200 advisers, conducted by Beaton Research in July 2013, found that 34.5% of advisers confirmed they are using social media platforms to communicate with their customers.
LinkedIn is the most frequently used platform for sharing business information, nominated by 60% of advisers who use social media. A further 24% of advisers who regularly use social media said they were using Facebook to share personal content.
In addition, half of all advisers surveyed said they had connected with their Business Development Managers via social media.
Of those who are connecting with BDMs, 59.9% said they interact on business issues only, compared to 39.7% who mix both business and social issues. Interestingly, wealth management advisers were more likely to mix business and social than risk specialist advisers.
…its relevance and use as a business tool is continuing to grow at a considerable rate
Philip Kewin, General Manager Retail for Zurich’s Life and Investments business, said the results clearly demonstrate that financial advisers are embracing social media as a mainstream communication channel.
“We have been charting the exponential growth in the use of social media within the financial advice sector for some time. This latest survey indicates that its relevance and use as a business tool is continuing to grow at a considerable rate,” Mr Kewin said.
“Not surprisingly, the most prolific users of social media are younger financial advisers who have been in the industry for between five and 10 years. This demonstrates that the next generation of advisers are helping shape the future of the industry through their enthusiasm and understanding of social media as an effective business development and communications tool.”
