Half of financial advisers use social media for professional purposes and some spend an average of 75 minutes a day promoting themselves online and contacting clients, equivalent to an investment of more than £15,000 a year, according to research.
A quarter of users say they have built new client relationships through social media, suggesting their investment was worthwhile, CoreData Research, which produced the report, found.
But social media penetration is still comparatively low among financial advisers. A third of those surveyed do not use social media at all. However, the success of those who have built new relationships using the technology could encourage others to participate.
Angele Spiteri Paris, senior consultant at CoreData Research UK, said: “The more advisers use social media for business, the more they attract new clients as a result of that activity.”
©2011 funds europe