Local NBC News In San Francisco Reports Baby-Boomer Financial Planners Are Losing To Younger Advisors Because Of Social Media And Technology
Created: Thursday, 13 June 2013 11:56
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The reporter, Stephanie Chuang, cites a Fidelity survey of 1,200 financial advisors to say that younger advisors, since the 2008 financial crisis have been more successful in regaining investor trust and building new business. Chuang says the younger advisors manage $8 million more than their baby-boomer competitors and get three times as many referrals.
For the answer, NBC turned to a spokesman from NerdWallet, San Francisco-based company with an app for do-it-yourself money management and that also offers a way for advisors to use their platform.
A NerdWallet spokesman says younger advisors have been more successful because of their “commitment to technology.”
“Advance use of social media gives advisors the edge,” Goldstein says, citing tools like Skype and Google Hangouts. “The ability to use social media and technology to grow their business has been quite impressive.”
The report goes on to cover NerdWallet’s “ask an advisor
” feature where advisors can showcase their skills.
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