Social media presence not enough to engage: planner
Advisers should be fine-tuning their social media strategy to introduce their offerings to new prospective clients and answer basic questions, a financial planner believes.
A mere social media presence is not enough in an increasingly crowded digital information space, according to Hans Egger, director of Astute Wealth Advice.
"If the adviser's blog, tweets, website or social media accounts don't resonate with people then they can very easily move on — and often do," Egger said.
"It should start as an education process that tells consumers not only what the financial adviser does but whether or not that particular adviser can help them."
Egger said the adviser's social media directory should answer a few basic questions, such as what the planner's experience will be like and how much value they can add to the client's portfolio.
"Technology can now very efficiently help consumers provide answers to simple ‘fact find' type questions like, age, date-of-birth, details of dependents, birth dates, financial position, etc., in preparation for the first adviser/client meeting," he said.
"That creates great efficiencies for the adviser — and the more efficient an advice business becomes, the better the outcomes are likely to be for clients."
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
