Social media can be a goldmine for financial advisors with a plan and system to consistently create content. However, it can also be a curse for advisors who don’t represent their practices properly or spend time and resources ineffectually.

In theory, social media gives an advisor the ability to reach thousands of users on various platforms, many of whom may be in the market for a financial advisor. It can also help you target prospects in your niche and customize content accordingly. For SmartAsset, Rebecca Lake CEFP shares some additional tips on effective content creation for social media.

The first goal is to create brand awareness through a presence on social media. This is the first step in the journey from gaining a social media follower, converting them to a prospect, and eventually a client. The next step is to use interactions on social media to build a following and deepen connections with existing clients and prospects. One strategy to do so is to run polls and ask questions of your followers to gain a deeper understanding of their perspective on various matters and spark thought and conversation.

Another important step is to do some research in order to understand where your ideal client spends time on social media. For instance, an advisor targeting younger clients may have better results on Tiktok or Instagram whereas a client targeting older clients would have more success on Facebook. 

Finsum: Social media is increasingly how advisors connect and communicate with clients and prospects. Here are some tips to increase your odds of success.