The world’s largest brokerage, Morgan Stanley Smith Barney, will let financial advisers market themselves and share ideas with clients through social-networking websites LinkedIn and Twitter.
The plan is to start with about 600 advisers in late June before expanding to the rest of the firm’s 17,800 brokers within six months.
Jim Wiggins, a spokesman for Morgan Stanley confirmed the plans, which is the first time a major wealth manager was able to employ social media for that use.
The advisers will use the social channels to communicate with existing clients and look for sales leads.
Up until now such marketing had been done via email, but now firms are meeting their clients’ changing needs.
Chad Bockius, CEO of Socialware said;
“As consumers evolve, there are multiple ways that people want to communicate.”
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