Drilling Down Into Advisor Social Media Survey Reveals Contradictions In Play

Thursday, June 02, 2011 05:37
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Drilling Down Into Advisor Social Media Survey Reveals Contradictions In Play

Tags: Social Media

A recent poll of advisor attitudes toward social networking tools shows us just how ambivalent the industry is where Twitter and company are concerned.

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The Peak Advisor Alliance took an impromptu survey of its members and found that just 34% are using social media to promote their businesses.

 

And even most of that group is still trying to figure out just how Twitter in particular is actually useful.

 

Exactly half of the advisors who filled out the poll say they think social media in general are still a compliance risk. But surprisingly, a significant chunk of those who say it's not a compliance issue -- probably around 12% of them -- are still not using these tools.

 

What are the reasons these advisors cite for their refusal to cultivate a presence on Facebook, Twitter, and elsewhere? The Peak Advisor Alliance doesn't say. 

 

We know it's not regulatory concerns because those numbers just don't line up. That leaves a lack of expertise, a lack of resources, and a lack of interest as the main suspects.

 

Alliance founder Ron Carson is clear. As far as he's concerned, if advisors want to reach the next generation of prospects and ultimately clients, they need to learn these tools now.

 

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