Top 5 Reasons Successful Financial Advisors Use LinkedIn

February 5, 2013

Financial advisors know winning and retaining clients relies on networks and referrals. That’s why it’s no surprise that nearly 3 out of 4 financial advisors use at least one social network for business. And among these, 9 in 10 use LinkedIn.

To help finance marketers gain insight into this trend, LinkedIn partnered with FTI Consulting to conduct a comprehensive survey of financial advisors in the United States. Here are the top 5 reasons financial advisors are using LinkedIn:

  1. Improve the effectiveness of referral network. 75% of advisors who gained clients from LinkedIn stated that they use the site to improve their referral network.
  2. Cultivate client prospects. More than 60% of those who prospected on LinkedIn successfully gained new clients as a result, with nearly a third of these generating $1 million or more in assets under management. In the words of one advisor, “LinkedIn makes cold introductions warm.”
  3. Build brand identity. 71% of financial advisors say their target clients are active on LinkedIn. Successful advisors stay top of mind by using LinkedIn’s marketing tools.
  4. Enhance current client relationships. Social media is not just for prospecting. Successful financial advisors are using social media to deepen relationships with existing clients.
  5. Expand professional knowledge base. Financial advisors are staying up-to-date on industry insights and using LinkedIn as a trusted forum for information sharing.

Download the complete research report, Financial Advisors’ Use of Social Media Moves from Early Adoption to Mainstream, and learn more about how leading Financial Advisors are using social media to grow their business.