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The Ultimate Social Media Guide For Financial Advisors 2020

Guide to social media for financial advisor

There’s not enough attention on social media for financial advisors although most of your future clients will literally be all over them. And if you’re getting on it now, it’s still better late than never. To answer your question on “what should I do as a financial advisor starting out on social media”, this one is dedicated to you.

Table of Contents

Build your personal brand

It’s 2020, if you’re still relying on your team’s brand or company’s brand to pull you clients, you will be drowning like most of the financial planners.

Past MDRTs were based from a solid network of people offline. Guess where will it be in the Gen Y and Z generation? The simple answer is social media.

The first step to building your personal brand on social media is self-awareness. Ask yourself “why do people work with me?” or ask your clients “why did you work with me?”

Some of the answers might surprise you, but you’ll realise that their answers will be fairly the same. Maybe you’re a lot more caring than others, or maybe you help them solve a specific problem in wealth management. That is what differentiates you from the average.

Moving forward on social media, the answers that you’ve learned about yourself should be displayed and portrayed to people as that is your “unique value proposition”. 

Focus on a niche

Stop trying to aim for everyone in the market. Nobody likes a generalist who serves everyone.

We like to feel special and understood. It’s the same feeling you get when someone truly know unique value rather than knowing you as “just another financial advisor”.

Pick a specific target audience that you want to serve. Maybe you prefer serving C suite executives, or maybe the working class adults. It’s totally up to you.

At the end of the day, don’t chase the cash. Go for the target audience which resonates most to you, because you’ll be able to resonate most to them.

Forcing yourself into a target audience will make selling 10x harder than going with what you naturally like.

You don’t have to think too much into this. Just ask yourself, what are the type of people that I love to serve, and which of my clients do I love to serve the most?

Know where your audience is at

The reason for focusing on a niche is extremely important for this step.

Depending on the type of people that you serve, they will be on different social media platforms.

For example, the working millennials will be on Instagram and Facebook. C class executives will most likely be on LinkedIn.

And working mothers will be on Whatsapp, if not, Facebook. However, more and more Gen Z’s are on Instagram and Facebook is showing a decrease in daily active users. In fact, many Gen Zs and Gen Ys don’t really like to use Facebook.

However, at the end of the day, you need to know where your main target audience is on. Being on every platform because Gary Vee said it isn’t going to cut out.

You can’t be selling insurance or investment policies to 9 to 16 year old kids on Tik Tok, that’s just not going to work.

Choose 1 or 2 platform at most and focus in that area to bring the greatest marketing ROI for you.

Educate first

On your selected platform, start educating FIRST. The beauty of social media is you can educate your audience effectively through your content.

Have you seen that one friend who constantly sells you every single time that they meet, and they’ll send you through Whatsapp messages, post on Facebook, and literally everywhere that we’re on.

Don’t be that guy, everybody hates him/her.

To avoid making the same mistake of selling to your audience first, like other financial advisors, go in with the intention to educate.

When we were young, our parents always told us, if you want to take something, you got to give first. It’s the same principle here.

Before you “take their money”, you got to “give them knowledge”.

Educating and giving them knowledge can come in every way possible. This can be from sharing tips, your client stories, live webinars, the list is endless.

Just remember the intent of educating first. To build a relationship, you first have to give. And when you have a relationship, the element of trust is the greatest buy-in factor. 

Network sincerely

Stop sliding into DMs to sell. Here’s the truth, if you think sending a message separates you from the rest. That is true.

You’ll be known for being the one that slide into my DM and sell me something. In fact, there is a network marketer I know who tons of people complain about because he constantly slides into multiple DMs with the intention to sell.

Now, he’s just left with a bad reputation among people. Surely that’s not who you want to become.

So what does it mean to network sincerely? It means to get to know who the hell you’re talking to and what he does before even selling to him!

Never ever treat other humans as a business opportunity. See them as a new relationship that you’re able to forge. And a relationship is based on trust of helping each other, not selling them.

If what you do truly helps them, then you are permitted to sell to them.

But before any selling happens, start to build a relationship first.

Growing a client base

Once you start doing the above, you will start to gain a following and that’s where you can leverage it to build a community of people.

A community of people can be best formed in Facebook groups, Telegram groups or whatsapp groups. That being said, getting them on an email list is a MUST.

I’ve been banned on Facebook several times, but my efforts wasn’t wasted as I was able to retain quite a few hundred emails.

Social media can be temporary, but an email list is permanent.

When choosing a platform to host your community, choose the platform that will be most comfortable for your clients to be on. For me, it’s telegram channels or whatsapp groups.

As an ending message to all financial advisors reading this, social media is inevitable. You either become the new market leader on social media or you fade like everyone else.

Hopefully, this guide has answered a few of your questions on what to do on social media.

You can gain more clarity and have a clear roadmap on Instagram by going through this quiz to understand what’s not working out for you and what needs to change right now.


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