Financial practices have an opportunity.

And it’s golden.

According to Tim Gerend, executive vice president and chief distribution officer at Northwestern Mutual, his firm’s annual Planning & Progress Study found that more than half of U.S. adults are anxious about their finances, reported thinkadvisor.com. This was part of remarks he made at the recent 2023 LIMRA Distribution Conference in Orlando.

On top of that, as for their financial future, they feel far from certain.

Fortunately, to help them prop up their security, Americans embrace the idea of seeking the help of financial advisors to help them formulate financial plans.

While that means the opportunity is ripe for the industry to build its impact and assist those who need it, Houston, we have a problem: the dearth of financial professional to handle the load.

That said, advisors should bear this in mind: If they’re not leveraging social media, you have company     according to blackrock.com.:

Forty four percent of financial advisors don’t indulge. Okay, so that might not prevent you from succeeding, ask yourself a question: how will  your growth remain on track given that among young investors, social media’s their “go to” when considering and choosing financial professionals among service providers.