Wealth Management Solutions

Tuesday, 03 December 2013 00:00

Financial Advisors and ‘the personal touch…”

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The human contact may be the most important interaction between financial advisors and clients; yet the “personal touch” is increasingly downplayed. Financial advisory clients are increasingly turning to social media to streamline, and even help manage their investment portfolios. In a recent Accenture study of 400 U.S. financial advisors, 48% of advisors reported that they use social media to interact with investors on a daily basis; while 50% say they have “successfully used social media to convert prospects into clients.” While the benefits of using social media cannot be disputed; at the same time, clients are also looking for “personal communication”. The challenge is for Advisors to exploit the advantages of social media while making sure that the “personal communication” with clients is not ruled out completely.

There are significant regulatory considerations concerning the sale and delivery of products and services through social media. Social media however is quite useful for content distribution and provides the ability to promote personal and corporate brands through blogs, videos, white papers, and case studies. Such use of social media, when combined with the “personal touch” with investors, allows Advisors to build trust through the popular networks (e.g. Facebook, Twitter and LinkedIn). In addition, when Advisors are actively monitoring, reassuring and keeping clients informed through personal communications; clients are more prepared to accept the fluctuations in their portfolios that are due to changing economic influences; especially during troubling market times. Understanding clients’ life goals, having the difficult conversations about major family decisions such as estate planning, retirement, college costs, real estate, etc are most effective when done in person.


in short; a strong working financial relationship cannot rely only on the use of social media to keep clients informed.

Jose Pierre

José Pierre, founder and CEO of Marketware International Inc., leads a firm that provides strategic consulting to both top-tier multinational financial institutions and their vendors as well as turnkey solutions for global trading and portfolio management.


José Pierre founded Marketware International in 1995, based on a vision of developing technology platforms for secure, cost effective, high volume online trading and portfolio management. By 1997, TD Waterhouse, Royal Bank of Canada, CIBC and other top-tier North American firms were clients. In 1999, TD Waterhouse acquired Marketware and Mr. Pierre, as SVP for International Technology for the TD Waterhouse Group, directed the development and delivery of high volume, local securities trading platforms throughout Europe and Asia.

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