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Social Media Best Practices for Financial Advisors

The challenges of the pandemic have been numerous, but for financial advisers, the real test has been to find ways to improve and foster client relationships. In-person meetings, once the standard in building these relationships, have become less frequent to reduce the spread of the coronavirus. It is therefore crucial for financial advisers to increase their digital literacy and establish new ways to engage with current and potential clients.

We’ve already considered how to grow your practice as a response to COVID-19, as well as how to improve our approach to video conferencing, but there’s another avenue to reach people: social media. With more people on social media than ever before, it has become essential to elevate social media profiles and understand the most effective ways to leverage these platforms to reach clients.

Compliance Check

Before posting on social media, ensure that you are complying with your company’s social media policy. These policies should act as a roadmap to what can and cannot be discussed on all social platforms. Because non-compliance carries significant legal and reputational risk for an organization, it is always wise to consult internal policies before publishing anything. If no social media policy exists, consider the following:

  • Always act as a good representative for your firm.
  • Use common sense when posting. Do not share confidential information.
  • If a statement is your personal opinion, clarify your position as an individual, not as someone speaking in an official capacity on behalf of your firm.
  • Ask management if in doubt.

Know Your Audience

With more than half of the financial advisers in a recent study reporting increased activity on LinkedIn and/or Twitter in the last year, it is clear that more advisers are recognizing the need to build a strong social media presence to expand business opportunities. By understanding which demographic is most likely to be engaged on which social media platform, you will be able to focus your posting efforts and develop connections strategically. Here is a breakdown of the typical audience per platform.


Facebook remains the second most used social media platform in the U.S. Only YouTube tops it in usage. According to Pew Research, 69% of adults in the U.S. are on Facebook, with 74% of those users visiting the site at least once a day. In terms of demographics, there is heavy usage across the board.


Behind Facebook in terms of daily logins is Instagram, with 63% of users logging in at least once per day. The platform also skews younger.


Twenty-two percent of adults use Twitter. Because of its 280-word limit, Twitter posts are most effective to distribute timely news items or customer service responses.


Though only 22% of U.S. users visit LinkedIn daily, this platform is useful because it is so targeted to professionals. The demographics reflect this, with a majority of users between 25-49 years old.

Focusing on the “Social” in Social Media

Whether speaking to millennials or older clients, adding personal touches to your social posts is always valuable. A statement that starts out with a heavy pitch about your services is an instant reason to delete or ignore a message. In the same sense, remaining authentic is key. Speak to your personal experience, and if you are exchanging direct messages with an existing or potential client, pay attention to that person’s background and interests. There is nothing worse than receiving a message that reads like a template that has been sent to dozens of other people.

Another easy way to maximize engagement is to respond to your news feed. Whether you see a birthday or work anniversary reminder, an important status update, or a news link that your connection has shared, take the time to reply specifically to these updates in your news feed. This demonstrates a personal interest in things that matter in your clients’ lives and will stand out to that person when engaging with them on an individual level.

Staying Organized

Developing a social media content calendar is the best way to stay organized when posting on various platforms. It allows you to plan and schedule relevant content in advance. A calendar also helps with staying consistent with how frequently you post, which is another key to creating an impactful social media presence.

The tools used to create a social media content calendar can be as simple as an Excel sheet that outlines each day of the month and what you will post on those days. There are also free scheduling applications, like Later, Hootsuite and Buffer, that can automatically publish posts on the days that you designate. Planning ahead with the help of a social media calendar and scheduling tools are two easy ways to minimize the stress of managing your social posts.

Posting Cadence

There is no magic formula for how often you should be posting on your social channels. Posting cadence varies from platform to platform, but the most important tip is to uphold the quality of your content and remain consistent with your posting schedule. If publishing social media content three times a week works best for you and your organization, then make that your goal. If this is your first time managing a social media account, start small, like posting twice a week on one platform, and slowly increase the volume of posts and the number of social media channels you use.

Two good places to start are LinkedIn and Facebook. On LinkedIn, 95% of posts generally show a decline in the number of clicks after 5 p.m., with the highest engagement occurring from Tuesday to Friday between 8 a.m. and 2 p.m. On Facebook, because their algorithm is constantly changing, the top priority is on creating quality content. Consistent engagement on posts also occurs from Tuesday through Thursday between 8 a.m. and 3 p.m. The hours before 5 a.m. and after 5 p.m. are timeframes to avoid posting, as engagement is lower.

Assess and Refine

Social media is constantly evolving, and so the strategy behind it must change as well. Though the best practices outlined here will serve as a strong foundation, in order to capture engagement continuously among existing and potential clients, you must be willing to revisit your content strategy and refine it as you go.

Christopher Crawford is the Director of Advisor Relationships for the Buffalo Funds. He has 10 years of experience in the financial services industry, previously holding positions at Invesco, IMA Financial Group, and Arthur J. Gallagher. At the Buffalo Funds, Christopher works with investment consultant relations, key account management, institutional distribution and client service. His main goal is to partner with advisers to bring business building ideas and provide unparalleled customer support to their business, always striving to make it easy and reliable to work with the entire Buffalo Funds investment team. Christopher received an M.B.A. from Washington University in St. Louis and a B.S.F.A. from Southern Methodist University. He also holds licenses for the Series 7, Series 63, and Series 65.

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Christopher Crawford
Director, Advisor Relationships