How Financial Advisers Can Connect Using LinkedIn
Why do financial advisers like networking so much?
Many see networking as a crucial part of business development because it
enables them to nurture relationships and, importantly, build trust.
According to a Research And Markets report from early 2019, growth prospects
for financial advisers are good, but they can find themselves resource-poor,
facing heavier regulatory burdens while chasing leads and engaging with
Networking might seem promising, but membership of strategically valuable
groups can be competitive, with limited places for IFAs and wealth managers in
established bodies such as BNI.
Face-to-face networking may also be geographically restricting for financial
advisers looking to broaden their areas of activity.
As an online solution, LinkedIn offers an impactful and user-friendly solution for
engagement and profile-raising, but financial advisers may not be fully aware of
how best to use it.
Getting the Most Out of LinkedIn
LinkedIn combines a wide reach with sociability. Its key for financial advisers is
that, while business-based, it is very much a social network. As such it offers
significant networking opportunities.
What are the implications for financial advisers and wealth managers?
LinkedIn is the perfect lead generation tool because it allows them to search
within specific sectors and other parameters.
But more importantly, it enables them to do this on a warm rather than cold basis,
because they can look in detail at the profiles of others and personalise their
At the same time, they can build their own online presence.
LinkedIn is the perfect platform for financial advisers to develop a personal brand
that will enhance their professional status.
The relationship-building they would normally expect to do face-to-face they can
Developing a LinkedIn Strategy
The key with LinkedIn is in striking the right tone. IFAs are constrained by
compliance concerns, but they can turn this into an advantage.
It means they must focus on building relationships and their network through
carefully constructed content and engagement.
LinkedIn can add value to financial advisers just as they add value to their clients.
What matters is that they take the opportunities it offers and learn the best ways
of maximising them.
Nigel Cliffe of LinkedIn Training delivers workshops with a specific focus on professional services