Top Stories by D. Bruce Johnston
Social Media on Ulitzer
RIAbiz.com recently discussed the findings of an August 24-25, 2009
Investment News survey conducted on the Twitter habits of the
financial-advisory community. Not surprisingly the survey reveals that "a
mere 14.9% of financial advisers say they communicate with clients or
colleagues through Twitter. Meanwhile, only 44.9% and 43.8% of advisers say
they use LinkedIn and Facebook, respectively, the survey found".
Have RIAbiz.com and Investment News missed the point? It's not about
Twitter, Facebook or LinkedIn! It's about communicating with one's
customers and clients utilizing ALL the tools available!
So, what's my point?
Practical, functional, and sensible go a long way to enhancing the
relationships financial advisors are trying to create between themselves and
their customers and clients, with or without social media tools. Social
Last week I sat on a social media panel at the "Innovation and Growth In A
Post Economic Crisis Era" Conference sponsored by Spectrem Group and
Financial Advisor Magazine. Other panelists were Daniel Bernstein, JD
Director of Professional Services, Market Counsel and Dr. Christopher W.
Young Jr, Ph.D, Global Director - Strategy and Solutions Wealth Management
for Dow Jones.
Dan did an excellent job discussing FINRA Regulatory Notice 10-06, , FINRA's
Guidance on Blogs and Social Networking Web Sites. (View Full Notice). He
pointed out, Regulatory Rule 10-06 makes it clear that an... (more)
As the world increasingly turns to social media for solutions, information
and expression, women are turning to BLOGS according to "The 2009 Women in
Social Media Study". The study reveals "why blogs":
64% of women are nearly twice as likely to use blogs than social networking
sites as a source of information 43% for advice and recommendations 55% for
opinion-sharing 75% are 50 percent more likely to turn to social networking
sites as a means of keeping in touch with friends and family
Women are turning in even greater numbers to blogs (55%), social networks
(75%) and online stat... (more)
While LinkedIn offers an attractive gateway to the world of social media,
many financial professionals we have been speaking with downplay the
importance of other social media tools like Twitter. That sentiment was
forcefully expressed recently in John Ridley's Visible Man column, which
decries Twitter as a stomach-churning indulgence for navel gazers.
Is John right? Are Twitter and its fellow social media apps best suited for
distracting easily bored, attention deficit fad followers? That thought was
on the minds of many at the Russell Reynolds Distribution Roundtable focused
While there may be a “Return to Relationship Alpha” for some, sadly it is
the “Beginning of Relationship Alpha” for most in the financial services
Recently, Scott McKain, good friend, world-class speaker and author of
several best-selling books (his latest is the just-published “The Collapse
of Distinction – Stand out and move up while your competition fails.”),
met with me to discuss “the importance of the Return to Relationship
Through the Value Added Institute and McKain Performance Group, Scott makes
his living teaching Fortune 500 companies and leading finan... (more)