Social media is a relevant business tool

Over a third of financial advisers use social media to communicate with clients, with social networking site LinkedIn emerging as the preferred platform for sharing business information, according to new research by Zurich Financial Services Australia.

The survey, which was conducted by Beaton Research and had more than 200 randomly selected advisers respond, also found half of advisers use social media to connect with their business development managers. Facebook was the clear choice for advisers who wanted to share personal information with their clients and business development managers.

According to Zurich’s general manager of retail, Philip Kewin, financial advisers are adopting social media at an exponential rate, with younger advisers who have been in the industry for between five and 10 years being the most prolific users.

He said the latest research confirmed that social media is a relevant business tool and mainstream communication channel for financial advisers.

“The next generation of advisers are helping shape the future of the industry through their enthusiasm and understanding of social media as an effective business development and communication tool,” Kewin said.

Of those advisers who said they used social media to connect with their business development managers, 59.9 per cent said their interaction was purely business-related, while 39.7 per cent of respondents connect around both business and social issues.

From a gender perspective, the survey found that female advisers were more likely to use social media. Around 44 per cent of women surveyed said they used social media to share content with clients compared with 32 per cent of men.