Many financial advisors are using social media to attract clients. But Finra, the brokerage industry’s in-house watchdog warns:
Consumers [should not] not to rely on any one source when vetting advisors. In addition to cross-checking advisors on several social media and advisor websites, shoppers should directly ask advisors what licenses and certifications they hold — and then check those claims using online resources like Finra’s BrokerCheck and the SEC’s Investment Adviser Search tool.
Searching for an advisor on the internet can save time and effort. It takes time and effort to set up a face-to-face meeting. Investors seeking guidance can often get a feel for an advisor by checking his website, Facebook page, twitter feed, LinkedIn postings and his blog posts.
But caution is also needed here. Potential clients should also be aware that advisors often outsource their social media content. Even advisors who write their own social media missives are sometimes coached extensively by consultants on how to get the most traction from blogs and other online channels. Word is getting out that social media aren’t always a window to the heart and soul of a financial advisor. The only way to be sure is for that face-to-face meeting to take place.
Here at Korving & Company we write our own blog postings, the content of our website is our own, our twitter posts are our own, so is our Facebook page and we use our own content on LinkedIn. If you like what you read here, try our other social media sites and get in touch if we may be able to help you.
Oh, and buy our book: Before I Gobefore it’s too late.
Arie J. Korving, a CERTIFIED FINANCIAL PLANNER™ professional, has been delivering customized wealth management solutions to his clients for more than three decades. Prior to co-founding Korving & Company, he was First Vice President with UBS Wealth Management and held management positions with General Electric.