RBC Wealth Management’s John Taft Makes a Case for the Social Media Revolution
April 21, 2016
When Hearsay Social first launched in 2009, the idea of allowing advisors and agents to have a social media presence for business was considered a huge risk for most financial services firms. But over the next seven years, we’ve witnessed a steady transformation in how the industry views social media and the opportunities, not just the risks, that social and digital present – especially as they face increasing pressure from the emergence of automated robo-advisor technology and regulatory changes.
John Taft, CEO of RBC Wealth Management U.S., makes a powerful statement about the social media mandate in his recent LinkedIn post, “Social Media: Friend or Foe?” In the article, he argues that the advisor-client relationship has changed radically thanks to social media, and that advisors who “keep their heads in the social media sand” will be threatened while those who embrace the “social media revolution” will see incredible opportunity.
John also provides his perspective on the recent SIFMA Social Media Seminar that took place here in San Francisco, where our CEO and founder, Clara Shih, hosted a fireside chat with him. Among other topics, they discussed the path of today’s customer journey and the role that technology plays, as well as why and how advisors must respond to the commoditization of the industry.
Read John’s full article here.
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