10 Tips to Grow Your Business with a Strong (and Compliant) Social Media Presence


More and more, financial advisors are using social media to build their business. In fact, one survey of more than 1,000 financial advisors showed 85% are using social media for business with Facebook being their preferred platform.

Social media is a proven marketing tool to gain new business and build closer relationships with clients. But how do you use social media effectively AND stay in compliance with the financial industry’s rules and regulations? Here are 10 tips:

1. Sell yourself. But that doesn’t mean positioning yourself as an industry expert on every single product and service. Go deeper than just getting your name out there. Use social media to build relationships and credibility as a thought leader, so you are top of mind for those who are looking for what you have to offer.

2. Avoid recommendations. Stay away from making recommendations on products. First, you risk irritating prospective clients who don’t want to be “sold” to on social media—and, secondly, you may violate industry rules. Instead, shift business-related posts to encourage your connections to get in touch via phone or email.

3: Skip writing your own content. Some advisors spend hours cultivating social media posts. With so much great content out it’s unnecessary to create your own. Subscribe to libraries of content geared toward the financial services sector. This reduces the risk of your posts being non-compliant.

4: Keep it straightforward. Social media isn’t the place to speak in financial services industry jargon—or go too deep in the weeds on a particular industry subject. Make sure no matter who is reading your post, they can understand it. Gear your content around solving a problem for your audience, and focus on creating awareness on next steps towards planning for a solid financial future.

5: Be positive. Social media posts say a lot about you. Keep yours positive, upbeat, and helpful. Stay away from politics. Spread the word on what you or your firm may be doing to better your community.

6: Be proactive. Even if your firm doesn’t require it (though likely they do), ask a registered principal of your firm to approve your social media profile and any posts you’re unsure about. This way you’ll know for sure that you’re in compliance with financial industry rules and regulations.

7: Be consistent. If you want to use social media to build your business, you must have a strong and consistent online presence. But don’t just push content to push content. Search those financial services-related content libraries for information that is relevant to your audience. Balance your social media posts with financial content and ‘good news’ articles, and don’t forget to share some fun! Consider supporting local businesses by sharing information about a new restaurant or entertainment venue in town.

8: Create a persona. You can’t be all things to all people. So choose your target market. For example, if you want to attract more millennials, create a “persona” that you’ll market to. Give your persona a name. Maybe it’s Emily, a 26-year-old college graduate who has her own business and is thinking about starting a family. Where does she live? What does she like to do in her spare time? What are her professional and personal goals? How can you help Emily? Spend time really thinking about what’s important to the “Emilys” out there—then keep your social media posts directed toward your targeted audience.

9: Plan your posts. Some advisors spend a lot of valuable time online. Unfortunately that doesn’t always lead to valuable posts. Instead of punting, choose a day to plan out your posts for the week. Planning ahead will help you productively post. It will save you time—and frustration—and result in a much more robust social media presence. There are plenty of tools available to help you automate your posts, so that you have more time to focus on your clients.

10. Tap into our expertise. At Berthel Fisher, we have marketing and compliance experts who can help you be most effective on social media. If you have questions or need advice, just ask.

At Berthel Fisher, we make it our mission to help our advisors deliver the best client experience in the business. From our investment products and advisory services to our back office support and forward thinking management, we are continuously investing in every advisor on our team.

If you are interested in joining Berthel Fisher, get started today or give us a call at 1-800-356-5234.

By Shelli M. Brady

Shelli Brady joined the firm in 2007 and currently acts as the Marketing Manager for Berthel Fisher & Company and its subsidiaries. Shelli attended the University of Northern Iowa in Cedar Falls, Iowa.