Social Media in financial planning – the sweet spot and the sweet gap

4 Feb

twodollarsRichard Telofski at Kahuna Content highlights a current sweet spot for financial planners. The demographic group of interest – males between the ages of 31 and 50 – is a market segment to target for future growth. However . . .


“We found that there is an overwhelming overlap, a very high correlation, between the demographics of a large proportion of blog readers and the demographics of a market segment that many financial planners have told us they covet. Yet, these financial professionals are largely absent from the blogosphere. I find this quite astounding.”


Addressing that gap? Telofski estimates that far less than 1 percent of the almost 58,000 U.S. financial planners blog.


One member of that small group is Ciaran McKeever, a Certified Financial Planner from Douglaston, New York. McKeever offers his “two cents” on a variety of topics from Roth IRAs and mutual funds.  Scan the dynamic Life Skills Network, that includes Frugal Dad, for more great content.


One tale of Twitter to the rescue of a financial planning firm after a Google search for updating an Excel trade log came up empty.


Which brings us inevitably to compliance issues.

Bill Winterberg points out that websites like Twitter, LinkedIn, and blogs “present compliance issues for registered representatives subject to FINRA regulations. All reps must obtain approval from the broker/dealer compliance department before posting anything on the Internet, as postings are considered advertisements.”

FINRA has published guidelines for use of the Internet by registered representatives of broker/dealers.

Winterberg, a Portland, Oregon based Certified Financial Planner, also notes that the SEC has similar guidelines that govern advertisements, including postings to public Internet forums.



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