The recent SIFMA (Securities Industry and Financial Markets Association) conference came back with a ton of report cards – one of which reminded how not so great we were doing with social media in our community. I think I’m feeling sick!
As a financial advisor, it’s tough for me to hear that we’re not doing something well. We pride ourselves on being knowledgeable in a lot of different specialties, yet we just can’t seem to catch up when it comes to social media. Why do you think that is?
Tom Sagissor of RBC Wealth Management said it best, “A key to success is to put social media into your business model.” As the Social Media Director of Ash Brokerage (the largest privately held insurance brokerage agencies in the United States), I couldn’t agree more. Social media must be in your business model!
Although I wasn’t at this conference, you can bet I will be next year, I believe rules and regulations that are written with too much “Don’t do this” jargon instead “Please do this” is part of the problem. Advisors become terrified to breathe on social media. Social management platforms like HearSay Social and others absolutely do help, but I’m still hearing a great deal of advisors who are aggravated by the whole process [it’s too expensive, too overwhelming, not sure what I can or can’t do, etc.] so they choose to do nothing (and that’s not the right answer either).
As a whole, we are leaving too much social data on the table that would help us be better, more holistic practitioners that other industries are making use of every single day. Advisors are missing out on key opportunities to engage with a client organically and it’s costing all of us business. Social media is not going away and we must not only embrace it, but help be an active participant in it so we can help guide the rules around it instead of letting it guide us.
My hat is off to Tom Sagissor for stepping up and saying what he said to this audience. We need more individuals like Tom to set an example. Thank you!
Be bigger, better and more BIONIC today!
Sheryl Brown / @BIONICsocialite