4 Reasons Why Those Who Aren’t on LinkedIn Should Be
The Investment and Wealth Advisor Edition
Obviously, if you are reading this on LinkedIn, you understand the value of this site for making new business connections while also following what your current and former colleagues are doing, such as changing jobs, hiring new employees or someone who just sold their business and may need financial advice.
Recently, I was working with a wealth advisor client and we chatted about expanding his brand locally and nationally. We talked about LinkedIn and he said that due to his firm’s compliance constraints and the effort to manage his profile and connections, LinkedIn was a waste of time.
Not so. Below are valid, prospect leading and business growing uses for this social
media outlet. Of course, there are other reasons, but here I am focusing on those that apply to investment advisors and wealth managers, as well as anyone who relies on increasing contacts and building professional relationships.
- When I started my practice, one of the best pieces of business advice I received was to expand my reach beyond my first connections. They will be less likely to require my services. Most new business will come from second-tier connections. LinkedIn is the perfect professional venue to do just that. Used the right way, you can also tap into third-tier connections.
- By following posts of current, or prospective clients, as well as industry peers, you can have timely knowledge of situations in which you can help or simply have reason to reach out to them and expand that relationship.
- Writing an article or being in the press is an attention grabber once it’s posted on LinkedIn. These will be shared, commented on or “Liked” by your first connections, leading second connections and even third connections to notice you.
- LinkedIn is a great forum to connect or follow people who can give you advice and news on what is important to you or things you never knew you needed, like what I have provided you here.
When you come across someone who thinks that they know everyone they need to know, yet their livelihood relies on building their business and relationships, I encourage you to share this with them. They may reconsider and take some time to put their names out there and connect with those who are, or potentially, important to their business.
Melissa F Daly has worked in financial and business communications for 20 years, with a special focus on key message development and strategy around critical issues. Melissa formed MFD Communications in 2011 after spending three years at Goldman Sachs as Vice President, Corporate Communications. There, she focused on communications programs for its asset management (GSAM) and private wealth divisions as well as the firm’s political and lobbying activities. Prior to that, she was a Director at Brunswick Group, a London-based strategic communications firm. There, she spearheaded its financial services offer in the US, managing communications and special projects for hedge fund, private equity, insurance and traditional asset management firms. Before Brunswick, Melissa was responsible for marketing communications and media relations for Fred Alger Management, helping it rebuild after 9/11. At The Hartford, as Director of Communications, she was instrumental in building brand awareness around its new mutual fund family as well as being responsible for communications for The Hartford’s investment related products businesses. Early in her career, she worked alongside A. Michael Lipper as his namesake company’s Head of Media Relations. Melissa is often quoted in the press discussing a variety of business topics and has frequently appeared on CNBC and CNN serving as an industry commentator and Bloomberg calls her “a veteran Wall Street message maker.” Her experience spans across business sectors and continents.