Advisers shunning social media
Social media doesn't play a major role in most advisers' marketing strategies, with the majority still favouring traditional pathways like referral networks, a survey has revealed.
Despite the proliferation of social media in the corporate world, not one of the surveyed planners cited social media as their main source of marketing, according to the latest Slice survey.
Instead, the default marketing strategy was professional referral relationships (33 per cent), followed by asking existing clients to refer new clients (28 per cent).
More than one in 10 (11 per cent) said their website or blog acts as their main marketing source, while the same proportion used networking as their go to strategy.
Slice author, Peter Dawson, of the Dawson Partnership, said the results were somewhat surprising, given the popularity of social media in other domains.
"We expected to find one or two respondents reporting social media as their main marketing strategy. This was not the case in this sample, although comments indicated that practices are using social media to support other strategies, for example by sharing newsletter articles via social platforms," he said.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
