Advisors Are Less Euphoric About Social Media, But That Might Be Because They're Still Not Doing It Right Hot

The Aite Group polled 437 advisors and concluded that "the bloom is off the rose."

Where one in five thought their social media presence was a differentiating factor back in 2009, only 9% think that way now.

That's not surprising. Many of the big fish in the industry are on Facebook and Twitter now, so it's not really a unique thing to be the twittering advisor.

But as advisors finally get their social efforts going, they're suddenly negative on the concrete impact of all those updates.

Across several categories -- reaching new prospects, earning revenue, becoming more productive -- only half as many advisors say their social media presence is working out.

One category that did improve, and it's a revealing one. Back in 2009, only 1% said their social presence was helping them communicate with clients.

In other words, only 1% had a social media presence. This was before the regulators established rules for these communication platforms, so it makes sense that adoption back then was minimal at best.

But if so, then a lot of those bullish 2009 statements probably reflect more hope than actual results.

This Website Is For Financial Professionals Only