Articles - Financial services providers failing to engage with IFAs


Financial services providers missing out by failing to engage with influential IFAs through social media

 Social Media is now at the heart of how IFAs interact, communicate with each other and share best practice
     
  •   
       Providers missing out on new opportunities to engage with Internet-savvy and influential IFAs through Social Media
     
  •  
  •   
       Workshop will teach Social Media skills, communication techniques and strategy to Providers
     
 Even the most sceptical of financial advisers now appreciates that the Internet stands at the centre of how IFAs communicate with each other - with Social Media dominating how they interact, network, find jobs, discuss industry issues such as RDR and how they share best practice.
 ‘New Model' no longer applies to just IFAs - large and small providers and suppliers of products and services to IFAs have no choice but to develop their own new model in how they interact, engage and add value to financial advice professionals. Seminars, workshops, broker consultants and telesales still have their place - but pale into insignificance compared to the impact and effectiveness of a well thought-through IFA-facing Social Media strategy.
 IFA Life closely monitors how IFAs use the ‘Social web' and is witnessing how IFAs often get instant answers from their peers to technical, business development and RDR questions - usually within seconds of asking. Answers can then turn into longer discussions which IFAs can access as a
 reference source later.
 As a result, many Providers aren't getting a look in and miss out on the opportunity to engage with IFAs, build relationships and to add value.
 Founder of IFA Life, Philip Calvert said today:
 "Most larger financial services providers are floundering when it comes to Social Media; their activities vary from non-existent to clumsy with little if any clear strategy evident."
 Calvert added:
 "Whilst we are starting to see a few Providers taking tentative steps into the world of Social Media, far too many are scared of the compliance issues, when really they have very little to worry about.
 By not using Social Media as a listening and customer service tool, Providers' broker consultant and technical support teams are missing out on valuable opportunities to engage with IFAs and to add value."
 2010 and 2011 have seen a huge leap in the number of IFAs using social networking sites to network and provide support to one another. When IFAs want help and support, more and more of them are turning to Twitter, LinkedIn and IFA Life to get answers to their questions.
 Traditionally providers have encouraged IFAs to call their Broker Consultant, Key Account and Technical Support teams when they have a technical of business development question, but increasingly IFAs are turning to each other instead for help and advice - and they are doing it on social networking sites.
 Philip Calvert concluded:
 "If Providers have any hope of engaging with IFAs through Social Media, they need to learn how to leverage these powerful tools. Our workshop on the 19th July will be of enormous benefit to Providers who are taking their first tentative steps

Back to Index


Similar News to this Story

Mean Reversion in Equities
A common argument in favour of equity investments is that, even though they go down, they will bounce right back up again. Commentators may advise “
How to get the most out of your insurance consultant
More than half of UK life insurance companies (59%) will spend more on actuarial consultants in the next year. This is one of the key findings of our
Video of what a cyber attack looks like in the real world
Hackers and their scams live behind keyboards. Invisible and faceless. Hiscox show how it would look ff cyber crime happened in the physical world, th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.