5 tips for using social media to grow your practice

5 tips for using social media to grow your practice

Source: Investment News Financial services professionals often shy away from social media, fearing the time commitment and compliance risks. The up

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Financial services professionals often shy away from social media, fearing the time commitment and compliance risks. The upside, however, is too great to ignore, social media experts in the industry say.

“Take Facebook alone: Nearly 80% of Americans spend time on it each day*,” says Jon Pauley, Senior Vice President and Digital Officer at Ameriprise Financial. “Social media is a powerful place to connect with customers and prospects.”

Nearly 80% of Americans now spend time on Facebook each day.

While larger financial firms have created systems that make social media marketing easier for their advisors, ease of use doesn’t automatically translate into success. Pauley recommends these five best practices for advisors:

Get help with compliance.

Work with software that mitigates your compliance risk by screening both inbound and outbound content for keywords and phrases to avoid. At Ameriprise Financial, for example, its GoSocial platform completely automates this process — and allows advisors to post real-time custom content as well as schedule preapproved content in advance.

Be dynamic and be yourself.

Social media is about authenticity, so by all means, be yourself. Even when you’re posting preapproved content, take the time to add a personal note when possible. This will distinguish you from your colleagues and give clients…

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