Stats 101: Why Financial Advisors (You!) Need to Use LinkedIn

Feb 28, 2013

The following is a guest blog post by Amy Sitnick, Social Media Marketing Manager for the SEI Advisor Network. In addition to writing tips for advisors on maximizing their exposure on social networks, Amy is responsible for helping them grow their business through SEI Practice Management Solutions. Connect with her on LinkedIn now.

In May 2012, Socialware completed a survey of LinkedIn usage of Financial Advisors. Here are some key stats:

71% of advisors said they are using social networks to do business

• Among those advisors, 91% use LinkedIn – the second most popular network is used by less than one third of those advisors.

So it sounds like you (and your peers!) are on LinkedIn – but what about your clients?  

Let’s see:

• 67,000 people join LinkedIn every day

• 67% of US adults with investment accounts have LinkedIn profiles

• 71% of advisors say their target clients are active on LinkedIn

52% of affluent investors say that they would interact with financial advisors via social media, but only 4% currently are being engaged by financial advisors online.

So what are you waiting for?

If you’re like most advisors, you set up your profile, invited a few people to connect and forgot about it – that is, until you get the occasional invitation to connect.

This could prove to be a big mistake.

If you’re looking to grow your business, you should pursue this avenue. After all, the average client who is on LinkedIn looks a lot like your target demographic:

79% of LinkedIn users are 35 or older; the average user base is 44 years old (the oldest user base of all social media sites)

49% of LinkedIn users have a household income over $100,000

73% of “affluent investors” with $100,000 or more in investable assets use LinkedIn to research investment decisions.

Used correctly, LinkedIn can help you position yourself for referrals, drive traffic to your website, and build your brand.

You can start small – just start

If you’re just getting started, or need a refresher, here are some of the basics to consider when using LinkedIn:

Complete your profile: You can see a percentage number when you view your profile. You want that number to be 100% and you can easily attain that number by completing all of the sections, such as job experience, education, and your website.

Have a professional photo: Make a good first impression by having a professional picture taken. Remember – prospects are going to “Google you” before meeting with you. Don’t have an inappropriate photo or one with other people in it.

Build your list of connections: This is actually pretty easy – review the “People You May Know” to see a small list of people who are connected to some of your contacts and invite them to connect.

Make your presence known: Join your college alumni group, financial planning groups, and local organizations such as a Chamber of Commerce, as well as niche groups – business owners, women investors, etc.

Remember – all of this activity takes time. I’d suggest that you schedule 15 minutes per day on Mondays and Fridays to:

• Update your profile

• Review and accept your invitations to connect from friends, family, clients and COIs

• Send personal notes to your new connections

• Review articles shared by your connections

We’ll be providing even more LinkedIn and social media tips in 2013, and you can look forward to part two of this post on Growing Your Business through LinkedIn.

I’d love to hear how you are using LinkedIn. Leave a comment with your experiences so we can share, or feel free to post a question.

Until next time!

Image Courtesy of

Share Button
Amy Sitnick

Amy Sitnick

Amy Sitnick is the social media contributor for Practically Speaking and also serves as a senior marketing manager for the SEI Advisor Network.

Learn More About Amy Sitnick



HNW Whitepaper

Recent Tweets