Eloise Mills knows good communication when she sees it – and she doesn’t expect to see it on financial advisors’ social media channels.
As chair of business to business public relations firm William Mills, based in Atlanta, Mills takes traditional communications, such as print newsletters, far more seriously than tweets or posts. “It’s nice if they have a presence,” she says of advisors’ marketing efforts via social media. But, she adds, choosing an advisor is “far too important a decision to base on social media.”
Thanks to stringent Securities and Exchange Commission regulations regarding marketing and communication, financial advisors have a pretty limited social media vocabulary, say consultants who specialize in financial communications. That explains why Facebook posts, blogs and tweets from accountants, financial planners and investment advisors tend to be generic.