For all of the advantages advocate say it carries in building outreach, social media may not be the best way for financial advisers to build new relationships.
According to a new report from Aite Group, "Financial Advisors Use of Social Media 2011: The Bloom is Off the Rose," the percentage of advisers who have used social media to differentiate their practice from competitors' practices declined from 21% in 2009 to 9% in 2011.
The latest report is fourth in a series of reports based on a first quarter 2011 Aite survey of 437 U.S. financial advisers.
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