Advisors are finally climbing on the social media band wagon at a significant pace. A recent SEI Advisor Network survey says that compliance, uncertainty, and lack of interest have given way to a robust embrace that is already delivering tangible returns.
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Eighty percent of asset managers now have some type of presence on a social media outlet. Fifty-six percent of advisors still say they are tiptoeing into social media involvement. One out of every five advisors has actually gotten a client
through social media. That gives game-changing legs to the movement.
So much so that 94% of advisors surveyed recently plan to step up their social media activity over the next year. The biggest challenge seems to be coming up with enough content that’s relevant.
Compliance is still the next biggest challenge. But if you don't have an industry to regulate, there's no need for compliance. As more advisors experience business success using social media tools, the only choice regulatory bodies will have is to accommodate.