A follow or "like" from their advisor could a good way to engage clients and they are open to it. The majority of Millennial (89%) and Gen X (59%) investors say they are open to connecting with their financial advisor on social media, according to a recent study by Broadridge Financial Solutions.
Older generations were less comfortable with their advisor checking out whatever they are sharing on social networks. The study showed that 61% of Millennials, 38% of Gen X and 19% of Boomers open to an advisor following them.
“As a result of technology transforming the customer experience, investors have come to expect a certain type and level of service no matter the industry or consumer relationship,” Chris Perry, head of Global Client Solutions at Broadridge Financial Solutions, said in a statement about the study. “It’s clear investors want to interact with their advisors on social channels and want high-quality, engaging and actionable financial advice. This presents a real opportunity for advisors to provide more personalized communication and experiences.”
Less than 30% of investors already interacting with their advisor on social media felt their communication was "engaging" and even fewer would consider it "actionable."
The study, which found Facebook was the preferred social media platform by respondents, surveyed 502 individuals who currently work with an advisor. It was fielded in March by Engine, a market research firm.
brought in 10 new clients and an aggregate $100 million in assets.
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