How did most investors find a financial advisor that they ultimately end up working with? Would you be surprised if I told you that 41% of investors today use Google to find and research an advisor? I'm Samantha Russell from Twenty Over Ten and today I want to share with you some really interesting statistics that had come out of a survey that the Bank of New York Pershing did to gather all about how people are finding financial advisors today in 2019.So there is an entire report that they put out. I have it right here. You can see this great graph. I will be happy to share it with anyone who would like it. You just need to comment below, and we can share that graph with you all. But let's go ahead and dive right in. I'm going to look at these steps here.
How Do Investors Find Financial Advisors?
So how investors find information about advisors and find advisors online? So what they did was they looked at 1000 investors, they surveyed them, and these were people that were all across the spectrum - ultra-high net worth, your typical high net worth, middle-income, all across the spectrum and asked them a series of questions about financial advisors, how they are finding them, and what tools that they are using.And so 41% of the people that they surveyed mention Google as the top place that they're finding an advisor and researching them. The second most popular place was LinkedIn at 27% and then the third most popular was the SEC Advisor Search with 19%. SEC Advisor Search and Facebook were both at 19 and 20%. So we have Google, LinkedIn, Facebook, and then the SEC Advisor Search as the top four places.What this tells me is that those are places you need to spend a lot of your time, effort, and energy. Making sure that what people find when they're looking you up and researching you really really communicates what you do, how you work with people just like them, and it gets to the heart of the value that you provide as an advisor.I've seen a lot of advisors tell me they're not on social media, they're not interested in being there. The problem is, it's not about you. It's about where are your clients spending the most time. We want to be where the people we are trying to reach are and where they are is spending time Google searching and spending time on social media. So those are the places you need to concentrate your efforts.We have a ton of information at Twenty Over Ten on how to help you optimize your LinkedIn and Facebook profiles. We can link to that below as well. And of course, we at Twenty Over Ten are website experts. We help advisors rank higher for SEO and get found online more easily. So if you need help with that, you can also check out Twenty Over Ten's blog and contact us.But again, Google, LinkedIn, Facebook, and then the SEC Advisor Search are the four places that these investors who were surveyed are reporting that they're spending the most time when it comes to finding and researching an advisor. If you like what you heard today, make sure you subscribe to our channel and check back next week. We share a video every week all about how you as an advisor can market your business better. Thanks, everyone.Related: 10 Blog Ideas For Financial Advisors