Hearsay Systems Adds Instagram Support to Help Financial Professionals Tap into the $68 Trillion Generational Wealth Transfer and Fully Engage with the Next Generation
January 23, 2019
Advisors and agents can now connect with clients and prospects across major social communication channel
SAN FRANCISCO, CA – January 23, 2019 – Hearsay Systems, the trusted leader in social selling and provider of the Hearsay Advisor Cloud for the financial services industry, today announced the addition of Instagram to its flagship Hearsay Social solution. By providing Instagram support, Hearsay helps financial advisors and insurance agents take advantage of compliant, full-funnel engagement across major social channels in addition to text, voice, email, and websites. Sales professionals are empowered to connect and build better relationships with clients and prospects, fostering early relationships with clients of the next generation.
Instagram is a valuable addition to Hearsay Social, with recent projections estimating $68 trillion will transfer over the next 25 years, according to Cerulli Associates. Up to this point advisors and insurance agents have struggled to engage with younger, potential investors and clients. According to Corporate Insight, only 20 percent of advisors have targeted the younger family members of their clients, ignoring a massive opportunity. Hearsay continues to open the door to this opportunity for advisors and clients with Instagram, which has nearly a billion users — 70 percent of whom are under 35 years-old and in this prized demographic. In addition, the younger generation also doesn’t feel that they need insurance to protect their current or future assets.
“Advisors and agents have to connect with clients and prospects on their preferred network or channel, which for millennials and Gen X means being on Instagram,” said Donna Prlich, chief business officer at Hearsay Systems. “With the rise of the FIRE movement– Financial Independence, Retire Early– it’s easy to see that the next generation is eager to learn about concepts like fiscal responsibility, investments, and savings– and they would rather take this leap with a live person than a robo-advisor. Hearsay arms financial professionals with everything they need to tap into this massive opportunity the right way while remaining in full compliance with financial regulations.”
The FIRE movement spawned by this financially-empowered generation represents a huge opportunity for financial advisors and insurance agents, as only 17 percent of next generation currently work with their parents’ advisors. Advisors and agents best bet to engage and educate the next generation is to employ a coordinated digital strategy across multiple channels (including Instagram and texting), then stand ready to deliver the responsiveness millennials have come to expect with an automated or team-based approach to follow-up.
“Advisors are at a challenging crossroads as they embrace the needs of a new generation of clients in pursuit of financial security,” said Katherine Kirkpatrick, Director of Strategic Marketing at First Command. “By enabling our advisors to engage our target market of career military families more effectively via mobile and social media with the level of compliance that our industry demands, it will vastly improve their ability to serve this growing client base.”
“In building credibility with a younger client base, it is critical to have relevant content to effectively engage them during a time they are experiencing many life changes, from marriage, to purchasing a new home, to having children,” said Kaitlin Lea, an agent with American Family Insurance. “Social media is the perfect place for me and my agency to reach them during these milestones, to build trust and help guide them through each step.”
As a mobile-first platform, Instagram complements Hearsay’s abilities to empower field advisors and agents while they are away from their office. Over the last year, Hearsay has reimagined its mobile applications. With the addition of Advisor Actions and Hearsay Relate, advisors’ devices now include powerful workflows and features like one-click follow-up through text or voice and triggered actions. By leveraging Instagram, an advisor could post relevant content about a particular trend in the market for example. Hearsay helps the advisor or agent build a relationship with those who liked the post and drive follow up actions at key moments, such as sending a text on their birthday. Personalized, compliant communication becomes instant within an environment that is comfortable for the client or prospect.
Instagram support is now available as part of the Hearsay Social offering. It can be downloaded via the Apple App Store and Google Play. For more information, please go to https://hearsaysystems.com/hearsay-social/.
About Hearsay Systems
Hearsay Systems offers the Hearsay Advisor Cloud for financial services, digitizing painful manual processes and freeing up advisors to provide proactive, timely service for clients.
Hearsay’s pre-built industry workflows for insurance and wealth management provides one-click actionable suggestions for advisors to engage with clients efficiently and compliantly use social media, websites, text and email to engage with customers, build stronger relationships and grow their business. Built for the enterprise, Hearsay Systems connects these advisor-client interactions and data to corporate CRM systems and digital marketing programs and provides efficient compliance supervision and review workflows – all on a secure, enterprise-ready platform.
Hearsay Systems is used by more than 150,000 advisors and agents at the world’s largest financial services and insurance firms. The company is headquartered in Silicon Valley with locations throughout North America, Europe and Asia. Connect on Facebook, Twitter, LinkedIn and the Hearsay blog.
For Editorial Contact:
Carmen Mantalas for Hearsay Systems