Always interesting and often controversial, BrightScope released its list of the 100 most “social” advisors — those that rank the highest in their use of social media. RIABiz writer Lisa Shidler provides commentary to the list, listing the top 25 and interviewing many of them. The bottom line: There is little correlation between social media ranking and AUM. As with most other rankings, BrightScope did not disclose their methodology for selecting the top 100.
Shidler notes that to be successful in a media known for its low attention span, it takes perseverance. Mike Alfred of BrightScope has raised the question before that if you’re not active in social media now, how will it look in 10 years, when your record will be indelibly written? Interestingly, Facebook seems to bear more fruit, although that may be more true for B2C advisors marketing to friends, while plan advisors might have more luck using LinkedIn. And in 10 years, will the credibility difference between Twitter and the Wall Street Journal be the same?
So is social media worth the time and effort? If so, which avenues should plan advisors pursue? And does making the BrightScope list matter? Face it — we all love lists.
