Traditionally, it has been believed that asset managers have held back from using social media because of compliance reasons, but it turns out that in today’s environment it might be budget constraints that are the real reason.
A lack of a successful marketing strategy seems to be another common issue, as most firms that are utilizing social networks are not doing a very good job of it.
Read Mike Byrnes’ Financial Advisor article for more insight into how investment management firms are progressing with social media. Also, take a look at Fidelity Investments’ “Thinking Big” “Water” video as a case study of how organizations can be creative to demonstrate their expertise, without using industry jargon, and benefit from viral marketing.
Contact Byrnes Consulting if your firm needs help building out a successful social media strategy.