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What Advisors say about Investors What Investors say about AdvisorsEvery financial service providers took a vow that they will have to have a strong presence in social media. So, they spent a lot of money, time and effort to make them known over social media.

Following them, individual financial advisors also started playing the same game. The rest is history.

Without a solid presence in social media a financial service provider is nobody (?).

Now EY ran a survey, to test the water and to find out the usefulness of such myths.

The finding of the survey is very contradicting and confusing.

Before we get to the nuts and bolts of the survey, let us assume that we are investors. We need an advisor to tell us what to do with our savings. A fair question. The next step is to find out an advisor, asking questions.

Should we ask every social media financial gurus about how to invest our money? Common sense would say, no. Unless there is a compelling reason, we should not be talking about our finances in public.

Well, on this point the investors and the advisors disagree.

Advisors claim that 40% of their investors communicate using social media, whereas only 7% of the investors say that they do so.

There is a 33% disconnect.

The survey explains that a lot of advisors think sending an article to the client using social media can be defined as an interaction. The investors rarely pay attention to such communications.

All of these findings are applicable to mortgage brokers and agents as well. The most important part of an advisor client relationship is to understand and to focus on clients requirement. It is not important what the advisor may think is good for the client. An advisor has to understand the requirements of a client and then to take proper measures for the good of the investor and then explain the actions to the client.

Last but not the least – because of the inherent security flaw of online services it is wise to keep the financial matters as much off-line as possible.


All these number can also mean that only 7% investors use social media and 40% of the advisors only have access to that cyber-social 7% investors. A friend analyzed this information this way.