Reputation & Social Media explores how advisors are (as part of a global trend) using social media to build their reputations -- not as a separate channel, but rather as another part of their integrated communication plans.
Here is the conversation
Michael Zeuner: Hannah, with April's comments on community, I think maybe, in addition to that, what would be interesting to talk about would be this concept of reputation.
Michael: And, how online and mobile and these communities are really, not so much changing the importance of reputation, but how they're impacting how wealth managers, right. And how the ultra net worth really think about reputations and do their own research on reputation.
Hanna: Mm. So, do you have any specific comments on that?
Michael: Well, my own view is that, you know, it's very important to think about these channels, right? Whether it's social media or online. I think it's very important to think about there's a sort of seamless transition between your offline and your online marketing and reputation building activities. And so, everything to me, the way I see it and the way our firm sees is, is that it isn't as if social media is a separate, you know, sort of reputation, you know, set of activities. It's actually just part and parcel of all of our marketing and brand building activities and it's just another channel, but the messaging is the same. The technology may be different. The vehicle may be different. The way we express ourselves may be different. But, it's all the same messaging that is being put out there irrespective of the channel.
Sebastian: That attitude of Michael is relatively new for the industry in the wealth management space and it's a delight to hear because, from a customer journey perspective or client experience perspective, whatever the level of wealth that they have, they see this as part of the experience. And, we often find it peculiar when we deal with financial institutions that they see oh, there's that digital wealth piece. That's someone else. We've just hired some young people to help us with that. Or, it's some segregated solution that happens along side the more classic family office or family wealth solution. That's so short sighted to the future relationships that wealth managers and family offices will have with their clients. And, actually, within a year we won't be having this conversation because the rest of the market will have grasped that. But, it's taken, as April will know, a very, very long time and we're very proud that by having the future wealth, you can now have the evidence to make some of those statements more real.
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