Why Advisors Need LinkedIn

LinkedIn is the richest social media networkLinkedIn has always been my favorite social network. It requires minimum maintenance and it offers highly relevant professional connections. There are 100 million members but it hasn’t been over-commercialized … yet. It is the ‘richest’ social media channel (see graph left).

And in the last year or so it has been steadily adding very impressive promotional, marketing, and networking applications.

What can an advisor do to take full advantage of LinkedIn? Complete your profile, link to everybody you know and respect professionally, issue consistent updates, link your blog and Twitter to your LinkedIn profile, post a LinkedIn badge on your web site or blog.

In the last year or so, probably in prep for its IPO, LinkedIn has been behaving more like a social network rather than a glorified resume.  If you are a company (including sole proprietorship), you can promote your company background and individual services. See screen capture below.

Related: LinkedIn introduces news component.

InfluenceAdvisor LinkedIn Services

InfluenceAdvisor Services as it Appears on LinkedIn Services

Clients in News: Dow Jones

Congratulations to InfluenceAdvisor client Aaron Schindler for his recent quotes in a Dow Jones Newswire story on finding investment bargains after recent turmoil in Japan and the Middle East. Aaron discusses investments in ETFs – a country index and a commodities play. See the quote on Aaron’s web site AaronSchindler.com that we developed for him.

Aaron is a New York City-based Certified Financial Planner with Wealth Advisory Group LLC. Aaron specializes in investments, insurance and financial planning for professionals, families, and businesses. We assist Aaron with media relations, editorial services, marketing, and new business development. Can we help you? info@influenceadvisor.com

FINRA to Issue More Social Media Guidance

Financial Advisors using social media YouTube Twitter Facebook Digg Twitter FINRA (Financial Industry Regulatory Authority) will be examining social media again, convening a Task Force next month to explore use among advisors. FINRA intends to issue more guidance later in the year.  Last year, FINRA released its first regulatory notice with guidance on blogs and social networking websites (See FINRA press release).

With more Americans using the Internet and social networking sites growing in popularity, how to regulate has become a big question. Along with more general regulation questions, there is confusion over the  responsibilities of firms. In particular, FINRA has stipulated that advisors must archive social media communication for six years. This has lead to a cottage industry of social media compliance solutions for advisors.

linkedFA is a social network for financial advisors to communicate with their investors.  Cloud Preservation is a “fully automated web archive service” that claims to easily assure compliance in social media for as little as $15/month. Website Archiving captures screen shots for regulatory compliance.

Advisors are Tweeting up a storm (see AdvisorTweets), sharing information through the web (see Advisors4Advisors), blogging, Facebooking, LinkingIn – exploring the full range of Internet-based marketing options open to other industries.

I’m glad the FINRA will take a closer look at social media and offer clarity to replace the fear about social media that now permeates the financial industry. Advisors, like other professionals, should be allowed to use social media to their full advantage, as long as they are compliant.

Related: SEC Targeting Advisors Without Social Networking Policies, Financial Advisor, 2/22/2011  | How to Embrace Social Media and Stay Compliant, Financial Planning, 1/25/2011 | Companies are adopting Facebook as an official investor forum. See IR web story. |FINRA Guide to the Internet for Registered Representatives

Social Media Leads to Mass Affluent Clients

social media icons Facebook LinkedIn TwitterHow do advisors penetrate the mass affluent market (between $1 – $5 million in assets?).

The story in Financial Planning magazine An Advisor’s Guide To Hunting For The Next Generation of Nouveau Riche wisely highlights the benefits or reaching tech-savvy mass affluent clients through social media channels. If your clients are clued into their mobile for work and pleasure, and they follow news, shop, and do their work through social media channels, you should be there too. It’s the smart, effective way for advisors to build client confidence and network in the right circles.

Potential clients will automatically search your background on the web. What will they find through a Google search, on LinkedIn, your blog, or third-party news stories. More and more, advisors are successfully integrating Internet-based marketing into their daily activities.

From the broker-dealer and financial advisor perspective, getting to these coveted clients requires not only an appreciation for the social media in which they’re so deeply entrenched, but a willingness to actively participate in it.

“You have to be where they are,” Haefele said. “Be on LinkedIn and Facebook. They’re telling you a lot about themselves in these channels. These are great resources for building up a prospect pool and finding out how you’re already connected to them.”

Financial advisors who may be spooked by FINRA’s guidelines for social media participation need to get over it and just make sure they have the IT platform in place to monitor and save all their social media dispatches.

Haefele suggests reading these potential clients’ blogs — or perhaps starting one of your own and posting comments linking back to yours on their sites — and doing everything possible to elevate your profile so you show up prominently on any Google search for financial advisor and the like. See the Financial Planning story.

Advisor Confidence Hits New High

Latest news from InfluenceAdvisorResults of the Advisor Confidence Index released at the end of December are very encouraging. Independent advisors queried for the monthly survey expressed their highest vote of confidence in the economy since 2007. This reflects a general sense that the economy is improving and primed for sustained growth.

Also related: Economists forecast U.S. growth on upswing in 2011 (USA Today) and Poll: Hiring plans top layoffs by most in 12 years (USA Today)

More than ever planners, advisors and RIAs need creative ways to market their services and target potential clients as the economy improves.

Resources:  Advisor Confidence Hits Highest Mark in Four Years, Financial Planning | AdvisorBenchmarking news from Rydex|SGI

CMG Launches Tactical Investing LinkedIn Showcase Page

CMG Capital Management Group LinkedIn SHowcase Page on Tactical Investing

By Mark Rose, Partner, InfluenceAdvisor

CMG Capital Management Group is a leader in tactical investment strategies. This is an investment approach that is not widely discussed in the financial media. How can you educate advisors and the media about tactical investing (different than tactical asset allocation)?

An effective method is through a LinkedIn Showcase Page, a free service that highlights a particular product or service and attaches to your LinkedIn company page. Why not take advantage of all that LinkedIn has to offer? Here are 3 big benefits of a LinkedIn Showcase Page:

1.  SEO: LinkedIn is an important search engine, comprised of 300+ million highly qualified professionals. Owning keywords for your product or service has tremendous SEO benefits on LinkedIn and in Google searches.

Search "tactical investing" on LinkedIn and get the CMG Capital Management Group Tactical Investing Showcase Page

2.  Ownership:  Once you reserve the url for your product or service, you own it. Nobody can infringe on your valuable web address. (https://www.linkedin.com/company/tactical-investing | https://www.linkedin.com/company/financial-publicity)

3.  Content Distribution: A Showcase Page can be linked to and promoted organically or through LinkedIn sponsored updates or ads. A showcase page can amplify the value of blog posts, White Papers, images, or social shares.

The new PR landscape is about content creation + distribution = PR for lasting impact. Take advantage of LinkedIn Showcase pages to increase your distribution to a targeted audience.

Tactical Investment Strategies are trading strategies that make shorter-term decisions based on factors like price momentum or fundamental valuations. They provide an important source of risk diversification.


Code Red on High Yield Says Blumenthal

Forbes logoCMG Capital Management Group CEO Steve Blumenthal sounds the alarm on high yield bonds in his latest Forbes article (excerpt below). See the whole article here: Code Red In High Yield.

Steve is off this week, enjoying a vacation in Nantucket. Read about that and his further discussion of the dangers/opportunity in the high yield market in his 7/25/2014 On My Radar: “Seen through my lens, another “once in a generation” buying opportunity is fast approaching. I remember saying the same thing in 1999 and 2007.  The lines between generations must be shrinking as such opportunities seem to appear about once every seven years or so.”

Want to be a Video Star?

YouTubeProving that anything can be interesting if it’s well presented Bill Winterberg at FPPad comes out with his latest video report on technology for advisors (video below). Talk about a niche subject. Bill delivers this line with a straight face: “Next up. A fascinating case study from a large RIA about its search for a robust electronic document management solution.”

But … as it happens, I was wondering about why my Microsoft SkyDrive has become the Microsoft OneDrive and what it all means.  Bill clears it up, sort of, although I never trust where Microsoft may actually be leading me.

[Read more…]

InfluenceAdvisor Clients Make News

InfluenceAdvisor clients appear on major business / financial TV shows, in print and online financial publications, trade publications, and wire services. We maintain excellent relationships with reporters, editors, and producers in media that targets advisors, fiancial planners, high net worth individuals, CFOs, investment managers, bankers, retail investors, traders, asset consultants, and asset asset distributors. See Media Relations for a sample of media we regularly target.

InfluenceAdvisor Develops Advisor Central

InfluenceAdvisor integrates blogs, White Papers, Landing Pages, social media, publicity and marketing for full-scale PR programs in the digital age. InfluenceAdvisor created Advisor Central web site. We produce and manage content, develop social media channels and train the client and sales team to use social media.

Advisor Central is built as a marketing platform to feed the growth and stature of CMG.

We generate coverage in major media and influential trade publications, and integrate publicity into the content marketing mix. We also support CMG Capital Management group with marketing for an active conference schedule.

We created a LinkedIn Showcase page on tactical investing and develop and manage a LinkedIn social campaign.

We arranged for Steve Blumenthal to become a Forbes contributor and assist with development and promotion of Forbes columns. We also placed editorial for CMG in Financial Advisor, Advisor Perspectives, The Wall Street Journal, and other outlets.

InfluenceAdvisor is the perfect platform for elite advisors, advisory firms, or investment managers who want to power their business to the next level. We can assist with a full-scale, integrated program or individual services.