January 31, 2012
The time to ask whether a firm should launch a social media campaign has long since passed. Clients are tweeting. So too are reps. A better question is what is the right way for advisors to use social media - a subject that can cause confusion even among firms that believe they're following all the rules.
“Some are trying to do it by themselves,” says Deena Katz, associate professor at Texas Tech University and chairman of the wealth management firm Evensky & Katz in Coral Gables, Fla. “They're not getting any help and think they're doing OK. Then it comes back to bite them.”