Social advisors. 48 percent of financial advisors interact daily with clients via social media, according to Accenture which surveyed 400 US financial advisors.
According to the report of Accenture (@Accenture) “Closing the Gap: How Tech-Savvy Advisors Can Regain Investor Trust”, financial advisors know the impact of digital technologies to their client relationships and view social media as important to their success. Thus, nearly half of them use social media everyday to interact with clients.
60% of these clients have assets of over $20 million. 70% of the advisors believe that social media financial services increases the assets of clients, and 50% claim to use social media in acquiring clients. Also, 49% believe that failure to use social media will cause a firm’s breakdown.
The research shows that 42% of clients are knowledgeable about investing, while only 12% of investors are knowledgeable. 1% of the advisors describe their clients as not knowledgeable, while 25% of investors identify themselves that way. 28% of investors are aggressive, while only 13% of clients are aggressive. 67% of the advisors claim to have a personal relationship with their clients, but only 38% of the clients view the relationship as personal. This means that advisors need to focus on the views and objectives of the clients to create a trusting relationship.
To make their digital interaction meaningful, firms need to use social media strategies. This will also help increase their visibility and drive business to their companies.
- 48% of financial advisors interact with their clients daily.
- 60% of these clients have $20 assets.
- 70% of financial advisors believe in social media to increase the assets of clients.
- 50% believe to have converted prospects in to customers.
- 49% believe social media is crucial to a company’s success.
- 42% of clients are knowledgeable, while only 12% of investors have knowledge about investing.
- 1% of clients are not knowledgeable, while 25% of investors do not have knowledge about investing.
- 13% of clients are aggressive, while 28% of investors are aggressive.
- 67% of investors claim to have a personal relationship with clients, but only 38% of these clients view the relationship as personal.
Alex Pigliucci, Global Managing Director of Accenture Wealth and Asset Management Services: “The use of social media to interact with clients is a differentiator for advisors today, but it will be mere table stakes in the not too distant future.”
Covered by my Visible Banking Team