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Survey Finds Social Media Builds Profile, Business

Nearly half of advisors say they have picked up business this year via social media, according to a new survey.

American Century Investments’ Seventh Annual Financial Professionals Social Media Adoption Study found that 46% of the 302 financial advisors, brokers and registered investment advisors responding to the survey said they picked up business, up slightly from 43% a year ago. Roughly half of this year’s pickups were valued at $1 million or more, though only 4% said they closed a deal valued at more than $5 million.

LinkedIn remains the social media platform of choice, with three-quarters (77%) saying they have increased their visibility on the platform. (Facebook was a distant second, though it was popular on a personal level.). However, only a quarter have upgraded to LinkedIn’s premium service.

The uses for these platforms were varied, and included:


  • Enhanced profile

  • Attracted new clients

  • Shared insights with clients

  • Retained clients

  • Enhanced business knowledge

  • Increased visibility


Social media is a street that runs both ways, of course. Reading expert commentary topped the list of business uses, as it did in 2015. “Researching people” was ranked second highest this year, up from third place in the prior survey. And sharing content with clients – which ranked second in 2015 – was ranked third.

The study also found that 55% of financial professionals said they are more likely to do business with their social media connections – up slightly from the 2015 survey, when 52% expressed that opinion.

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