Jennifer Openshaw
The Socially Savvy Advisor
Related Titles
Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally committed to developing and marketing print and electronic products and services for our customers' professional and personal knowledge and understanding.
The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors. Book topics range from portfolio management to e-commerce, risk management, financial engineering, valuation and financial instrument analysis, as well as much more.
For a list of available titles, visit our website at www.WileyFinance.com.
Jennifer Openshaw with
Stuart Fross and
Amy McIlwain
Cover image: top: ©iStock.com/VLADGRIN; bottom: ©iStock.com/Alex Belomlinsky
Cover design: Wiley
Copyright © 2015 by Jennifer Openshaw. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993, or fax (317) 572-4002.
Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.
Library of Congress Cataloging-in-Publication Data:
Openshaw, Jennifer.
The socially savvy advisor: compliant social media for the financial industry / Jennifer Openshaw, with Stuart Fross and Jerry Gleeson.
pages cm. – (Wiley finance series)
Includes index.
ISBN 978-1-118-95907-7 (cloth/website); ISBN 978-1-118-95910-7 (ebk);
ISBN 978-1-118-95908-4 (ePub) 1. Financial services industry. 2. Investment advisors. 3. Social media. I. Title.
HG173.O645 2015
332.1068′8–dc23
2014027686
Dedication
Dedicated.
To every investor who seeks financial security, and to everyfinancial advisor who struggles in a rapidly changingworld to make those investors' goals a reality.
Foreword
The world as you know it is being reshaped!
This statement couldn't be more descriptive of the Financial Services industry and the world of wealth management. Leadership teams around the globe are grappling with the rapid adoption of, increasing reliance on and relationship dynamics fueled by social platforms.
Facts called out in The Socially Savvy Advisor may have bordered on blasphemy in board rooms years ago. However, as author Jennifer Openshaw clearly points out, these behaviors are setting new rules of engagement. We live in a world where:
Fifty percent of investors…rely heavily on financial websites and blogs, ahead of financial newspapers and financial planners.
– ING Direct
Seventy percent of wealthy investors have restructured their investments…based on content found on social media.
– Cogent Mass Affluent 2014
Among “Under 40” HNWI, 40.5 percent cite social media as importance for accessing information and 36.3 percent for engaging with wealth managers and firms.
– RBC Wealth Management/CapGemini World Wealth Report 2014)
And these are changes I've seen firsthand. I have spent the past 15 years focused on digital technologies that disrupt, enhance, and create value for clients as they navigate their intricate relationships with financial institutions.
Having joined LinkedIn in early 2011 as Global Head of Category Development–Financial Services, I've watched the LinkedIn network grow threefold to over 313 million members today. Within this vast network, the Financial Services industry has seen tremendous traction. In fact, the Financial Advisors Group is one of our fastest-growing communities, with more than 700,000 members globally. These members are actively leveraging LinkedIn to build their professional brands, grow their businesses, and, as a knowledge platform, to access industry news, market perspectives, and peer insights.
This rapid uptake presents financial services firms and those selling to them with tremendous opportunities to engage and interact with prospective clients. But there are right and wrong ways to go about this.
The Socially Savvy Advisor
