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Financial Advisors Slow To Adopt Social Media

While a recent study shows more than two-thirds of all online adults are using social networks, financial advisors are much slower to adopt social media for their businesses, says a poll by SEI. It shows that less than a third of advisors surveyed (28 per cent) use social media to promote their practices online and those that do, use it in a limited fashion. In fact, more than half of respondents said they are tiptoeing into social media with only a LinkedIn profile. And, nearly a third of those polled (29 per cent) have no presence at all. "Whether it's a lack of time, resources, or expertise, it's clear most advisors haven't fully committed to social media yet," says John Anderson, head of practice management for the SEI Advisor Network. "Research shows that the majority of Americans are using social networks; if advisors can reach that audience effectively there is an opportunity for them to reap tangible business benefits. It's important to note, however, that being consistent and strategic is vital to long-term social media success."

Courtesy of Benefits and Pensions Monitor website News Alerts

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