Although this article has a US focus, it has clear relevance to the UK market too.
Our own research at LifeTalk shows that 84.5% of IFAs/advisers have a personal profile on LinkedIn - yet when we ask them why they have one, just 10% can clearly articulate an answer. And fewer than half of financial advisers in the UK have a LinkedIn Company page.
The issue here is training, pure and simple. Like any piece of software, you never really see the full benefits of it until you've been properly trained.
We run regular LinkedIn and Social Media workshops for financial advisers, and attendees often tell us that they attracted new clients the very first time they used the techniques we teach. One IFA told me that he attracted £100,000 in fee income last year purely from his use of LinkedIn.
Get the training piece right and you are well on your way to nailing any Compliance issues too.
We also run in-house LinkedIn workshops for financial advisers, providers and suppliers. Get in touch if you'd like help: firstname.lastname@example.org
Along with sound policies and archiving of communications content, training of advisers and firm employees on social media use can help firms proactively prepare for the day when LinkedIn becomes an integral part of the daily business workflow. With policies, training and archiving in place, firms can also become more diligent about their compliance obligations, and be ready to respond to a regulatory examination.