Jennifer Openshaw
The Socially Savvy Advisor
Related Titles
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Jennifer Openshaw with
Stuart Fross and
Amy McIlwain
Cover image: top: ©iStock.com/VLADGRIN; bottom: ©iStock.com/Alex Belomlinsky
Cover design: Wiley
Copyright © 2015 by Jennifer Openshaw. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data:
Openshaw, Jennifer.
The socially savvy advisor: compliant social media for the financial industry / Jennifer Openshaw, with Stuart Fross and Jerry Gleeson.
pages cm. – (Wiley finance series)
Includes index.
ISBN 978-1-118-95907-7 (cloth/website); ISBN 978-1-118-95910-7 (ebk);
ISBN 978-1-118-95908-4 (ePub) 1. Financial services industry. 2. Investment advisors. 3. Social media. I. Title.
HG173.O645 2015
332.1068′8–dc23
2014027686
Dedication
Dedicated.
To every investor who seeks financial security, and to everyfinancial advisor who struggles in a rapidly changingworld to make those investors' goals a reality.
Foreword
The world as you know it is being reshaped!
This statement couldn't be more descriptive of the Financial Services industry and the world of wealth management. Leadership teams around the globe are grappling with the rapid adoption of, increasing reliance on and relationship dynamics fueled by social platforms.
Facts called out in The Socially Savvy Advisor may have bordered on blasphemy in board rooms years ago. However, as author Jennifer Openshaw clearly points out, these behaviors are setting new rules of engagement. We live in a world where:
Fifty percent of investors…rely heavily on financial websites and blogs, ahead of financial newspapers and financial planners.
– ING Direct
Seventy percent of wealthy investors have restructured their investments…based on content found on social media.
– Cogent Mass Affluent 2014
Among “Under 40” HNWI, 40.5 percent cite social media as importance for accessing information and 36.3 percent for engaging with wealth managers and firms.
– RBC Wealth Management/CapGemini World Wealth Report 2014)
And these are changes I've seen firsthand. I have spent the past 15 years focused on digital technologies that disrupt, enhance, and create value for clients as they navigate their intricate relationships with financial institutions.
Having joined LinkedIn in early 2011 as Global Head of Category Development–Financial Services, I've watched the LinkedIn network grow threefold to over 313 million members today. Within this vast network, the Financial Services industry has seen tremendous traction. In fact, the Financial Advisors Group is one of our fastest-growing communities, with more than 700,000 members globally. These members are actively leveraging LinkedIn to build their professional brands, grow their businesses, and, as a knowledge platform, to access industry news, market perspectives, and peer insights.
This rapid uptake presents financial services firms and those selling to them with tremendous opportunities to engage and interact with prospective clients. But there are right and wrong ways to go about this.
The Socially Savvy Advisor is a comprehensive guide to our social ecosystem and regulatory landscape. It provides pragmatic advice and how-to tips that can transform your social marketing efforts from being a tangential business strategy to a decisive game changer.
A concise and digestible read, this book is suitable for advisors at all stages of the “social practice” continuum. In it, you will find:
▪ Compelling stats and consumer insights.
▪ Use cases of social platforms, successful marketing practices, and a getting-started checklist.
▪ Overview of regulatory rules and a compliance planning guide.
▪ Best practices for content creation, content distribution and migrating to an “always-on” content strategy.
▪ Standards related to marketing and business development.
So