Seattle, WA - July 11, 2011 Financialjoe interviewed numerous financial advisors and their clients regarding several subjects which revealed important aspects of social media in the financial industry are being missed.
Financialjoe’s research goes beyond the advisor’s ability to post tweets through Twitter, friend people on Facebook, or place their profile on LinkedIn. Though Twitter and Facebook each offer the advisor the ability to get information out to their clients, it for the most part, is one-sided to the advisor offering little for the investor.
Financialjoe surveyed numerous investors with regards to the process they went through to find their financial advisors. Several stated they simply went with the advisor a family member used, but really did not know that advisor to the degree they were comfortable with before hiring him. Others stated they interviewed several advisors which was stressful, time consuming, and the final decision on which advisor to hire was made with great hesitation and angst. It was also revealed that investors feel advisors “all sound the same” though they presented different recommendations.
In addition financialjoe’s research also revealed that investors want tools that allow them to see how their advisor’s other clients feel about his services, and they want the ability to receive updates from those investors on a continuous basis. Financialjoe posed this question to the investors: If you had the ability to see how an advisor’s other clients felt about his services, would it sway your decision in one direction or another?” Every investor surveyed stated having information from the advisor’s other clients would be the defining factor on who they would ultimately hire. They further revealed it would provide them greater confidence and peace of mind.
With the evolution of Social Networking and Media, consumers make daily decisions on what hotel to stay at, what car rental company to use, what airline to travel on, whether to eat at a restaurant or not, what attorney, contractor, and doctor to trust, and so on. So, why would they not want the same tools that allow them the peace of mind when it comes to the ongoing relationship with the person managing one of their largest assets that can make or break their future? Financialjoe empowers investors to meet those demands.
Financialjoe determined there had to be something the great advisors were doing to stand out from the others. What was revealed through the survey is that it had nothing to do with market performance; which comes and goes - but everything to do with service and relationship; which should always be there.
Financialjoe went to great depth creating our advisor rating questionnaire with five seasoned advisors and a few of their best clients. Through that process they developed 12 simple questions created by both the advisor and investor stressing the reasons that their relationship is so successful. The investors that created the questions along with the advisors also revealed that these are the reasons they have never left their financial advisor when market conditions were at their worst and their portfolios were taking a beating. The conclusion of the survey revealed to the advisors that if other financial advisors serviced their clients in accordance with our basic questions, there should never be an issue with a client. What’s even more amazing is that over the last month when other advisors read the questions the first thing out of their mouth is, “I’d better start calling clients I haven’t talked to in a while.”
Shawn Tierney, the founder and CEO of financialjoe states “The rhetorical question often posed is, “How good would any relationship be if we spoke once a year?” To us, that’s what financialjoe is all about; improving the investor and advisor relationship by bringing together investors and revealing to the advisors the importance of continuous and sincere communication with their clients through accountability.
For more information on how to take advantage of financialjoe’s many ways to build credibility and share reputation online visit www.financialjoe.com