Not long ago, a survey by Broadridge Financial Solutions, a fintech provider headquartered in Lake Success, N.Y., found that a majority of investors want more social media interactions with their financial representatives. Not just more frequent contact but more useful content.

The study, released in mid-April 2019, highlighted the growing role of Facebook, Twitter, Instagram and other platforms in all aspects of American life. Yet within the financial community, reaction to this news is mixed.


“It really depends,” says Andrew Murdoch, president of Somerset Wealth Strategies in Portland, Ore. “I have clients on social media, but I don’t comment or post much. I mostly use it to kill time.”

In part, Murdoch is mindful of the potential risks of oversharing online. “My sense of humor is not for the masses,” he explains, adding, “If you have bad judgment, it could be very bad for you.”

Nevertheless, he acknowledges that a “well-manicured account” can be a good way to strengthen client relationships. But what exactly defines a well-manicured account? What is appropriate for a professional’s social media persona?

How To Be Part Of The Conversation

Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, Calif., is a longtime social media user. (She proudly claims to have more than 300,000 Twitter followers.) “You need a social media communication strategy,” she contends. “If I don’t share [online], I can’t grow for my employees, for my company and, most importantly, for our clients. After all, if we’re out of business, we can’t serve anyone.”

She suggests that advisors who are new to social media “would benefit from working with a social media expert initially.”

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