Why does a Financial Advisor need to be on LinkedIn?

Let’s face it, social media is totally here to stay, especially LinkedIn. So…the answer to the question “Does a Financial Advisor need to be on LinkedIn?” is a resounding yes.

So why does an advisor actually need to be on LinkedIn?

Consider these interesting stats about LinkedIn in Canada.

  • LinkedIn is a Business social media network
  • Over 46% of online Canadian adults have a LinkedIn account
  • Generally, the higher the level of education, the higher the LinkedIn adoption. Individuals with a professional degree (69%) have the highest adoption.
  • LinkedIn is very popular with individuals that are self-employed. (56%)
  • 59% of LinkedIn accounts report an annual household income of $120,000 and over.

LinkedIn is no longer only used for posting a resume or looking for a job but it’s being used to network with clients, centres of influence, share your content and connect with prospects.

…and because it’s a Business social media network- you can actually talk and share about your business. Whoa.

It’s a great platform to:

  • Build your brand and online trust with prospects and clients.
  • Position yourself as an expert to your target market. (Ex. Families, executives, business owners, retirees)
  • Build relationships with qualified prospects.

So… how do you get started?

  • Get a LinkedIn profile.
  • Optimize your LinkedIn profile. (How to do this will be in later post.)
  • Connect with clients, prospects and centres of influence.
  • Focus on consistently posting content that’s relevant to your target market.
  • Position yourself as an expert.

For financial advisors, it’s definitely the social media platform to be on.

* Data Source: 

Gruzd, Jacobson, Mai, & Dubois. (2018). The State of Social Media in Canada 2017. Version: 1.0. Ryerson University Social Media Lab. DOI:10.5683/SP/AL8Z6R 
The study surveyed 1,500 Canadians in 2017 using quota sampling by age, gender, and geographical region to match the distributions in the 2016 Statistics Canada Census.