While it may be unclear if the two are connected, some financial advisers that use social media professionally are seeing higher revenue growth and larger client bases compared to advisers that do not use the network channels.
According to the "Financial Advisors' Use of Social Media" report from Aite Group, which collected responses from 402 financial advisers, 36% said social media has helped them reach new prospects. More than one in five credit social media for increased awareness of their practice, wider increases in their books of business and differentiation from their competition.
Still, more advisers use social media on a personal level, Aite found. Sixty-three percent said they use at least one social media tool on a personal basis while 35% use social media professionally.
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