Financial advisors have a unique challenge on social media, and on Twitter specifically.
While other entrepreneurs can tweet just about anything they want (with impunity!), financial advisors are highly regulated and therefore need to watch very closely what they tweet. There aren’t enough characters in a tweet to include a full disclaimer, plus every advisor knows that general trading advice compressed into 140 characters pales in comparison to carefully selected advice for individuals.
So what CAN a financial advisor tweet about? How can you add value and build up a following without broadcasting unhelpful advice?
Here are 10 ideas from which you can build your own pool of original, engaging tweets:
- Likely you serve a local area. So tweet about what is going on in that area — from news to (positive) reviews of local establishments to updates on weather to local sports and more. Become the finance guy for an area.
- There is always good “general” financial advice you can give that won’t risk your advisor’s license — things like “Make sure you set and stick to a budget” or “Make sure you have a will”, or “it’s tax time! Don’t forget to file your taxes by April 15!”. You can get more specific about them, too, but those are perennially good reminders.
- Share other good advice that aren’t specific to finances. Consider tweets about daylight savings time, changing batteries in smoke detectors, the importance of getting a carbon monoxide detector, etc.
- Choose a charity and promote that charity generously. (Bonus tip: Even better if the charity is involved in your local market).
- Tweet financial facts that people might find interesting, like the number of people who haven’t saved for retirement or the average amount of credit card debt per household.
- Ask thought-provoking questions that encourage people to think about their financial situation.
- Reflect on how larger issues (i.e. on a municipal, state, national, or international scale) will impact the people you meet every day.
- Regularly tweet reviews of your favorite must-read financial books.
- Promote your fellow professionals in related fields — attorneys, accountants, real estate professionals etc. Spread some local professional love. (Of course you can do this for other people, too, but attorneys and accountants and real estate professionals are your biggest potential referral sources.
- My most important tip: Share something of yourself! Talk about your interests and hobbies. Yes, your sales training probably told you to avoid talking about yourself. But social media is about being real and sharing part of yourself with others. You don’t have to overshare (no need to post pictures of your lunch) but there is value to being a real person.
To get started, I suggest you come up with 3-5 tweets for each of the ideas listed above and then tweet them in a rotation, periodically adding to this growing pool of tweets. (OF COURSE you should be doing other things on Twitter too, like following and listening and retweeting and replying. But when you want to tweet your own stuff, rotate through these over the course of a week or so).