You’re connected in all kinds of ways. As a financial advisor, you have to be. But are you really embracing technology in a way that lifts AUM?
Have you done your digital duty – using the required programs and mobile devices – but maybe hesitate when it comes to social media or virtual client meetings?
Financial Advisor Magazine examined a report released by Fidelity Clearing & Custody which found that advisors who embrace technology:
- Have 40% more assets under management
- Attract younger investors
- Increase their geographic reach faster
- Serve 55% more clients than their technology-resistant peers
The message is not to go completely paperless or cease face-to-face client interactions. Rather, identify day-to-day tasks that may most benefit from a bump in technology. Maybe it’s providing clients with interactive account reports. Or videotaping client presentations and delivering them via email to those who couldn’t attend.
One way Waddell & Reed advisors have expanded their reach is through our award-winning1 social media program, which provides social media education, one-on-one LinkedIn onboarding assistance, and an approved content library. Advisors active in the program point to its key benefits, including strengthened relationships and a new medium to reach out to clients.
1 WealthManagement.com Industry Award for Social Media Implementation, September 2015