Top Stories by D. Bruce Johnston
With hope and fear. If they can publish a few blog posts, advisors can extend
the life of a public relations story nearly effortlessly. With social media
and its ability to generate attention inexpensively, it's hard not to
The difficulty comes in when you ask an RIA what they are willing to pay for
it. An RIA must opt for at least a minimal, consistent effort to
communicate their subject matter expertise to their prospects.
So, while the vehicles underlying all that publicity are almost free, the
talent to assemble content and distribute it is not.
And that's the rub: RIAs need to make a commitment to reach out and sustain
an effort to attract new prospects into their loop. Whether an RIA is ready
to take the deep dive into social media, he or she needs to answer four
1. Do I like the idea of using nearly free marketing tools to attract
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
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)
By D. Bruce Johnston, President and CEO, DBJ Associates
Commerce on the Internet continues to skyrocket.
Chad Levitt, author of the “New Sales Economy Blog,” recently wrote a
post, “Sales Reps, Are You Ready for the Digital Universe?,” based on
information he gleaned from a recently released IDC report on predictions for
the year 2020.
Here are some of the major findings from the IDC report:
Between now and 2020, the amount of digital information created and
replicated in the world will grow to an almost inconceivable 35 trillion
gigabytes as all major forms of media – voice, TV,... (more)
Many firms have asked us: with the prevalence of dedicated manager research
and due diligence teams at home offices and even dedicated manager research
at the branch level are separate resources beyond relationship management
professionals and wholesalers needed to call on this segment?
The answer may not be additional resources but how the resources are deployed
in the field. As gatekeepers get tied down with researching new managers
and talking to existing ones on their platform, they simply don’t have the
time to talk to those outside their immediate frame of reference. Firms... (more)