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Published November 7, 2013 by Money Management

Money Management

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 Wheel client engagement platform.

“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.”