The document summarizes the findings of a 2010 survey on financial advisors' use of social media. It finds that while younger advisors are more actively using social media, compliance concerns and restrictive policies present barriers. LinkedIn is the most commonly used and useful platform. The survey also reveals that social media interactions can lead to new business through reconnecting with past clients and referrals. However, many advisors see social media policies as still unsettled.

1. Financial Advisors’ Use of Social Media

10. Source: LederMark social media survey, March 2010. All professionals at national firms, N = 50 Key discovery: Complete use of LinkedIn tools is restricted. Use by national firms Rank Current use Desired use 1 Create a profile with the name of employer identified Ask for profile recommendations 2 Invite friends/ colleagues/others to join your network Utilize applications (e.g.,Tweets, blogs, slides) 3 Join groups Engage in discussions 4 Link profile to your business web site Link profile to business web site 5 Engage in discussions Join groups Create a profile without employer identified

11. Source: LederMark social media survey, March 2010. All brokers, N = 69 Key discovery: Complete use of LinkedIn tools is restricted. Use by brokers Rank Current use Desired use 1 Create a profile with the name of employer identified Ask clients and friends to recommend you on your profile Utilize applications (e.g., Tweets, blogs, slides) 2 Invite friends/colleagues/others to join your network Engage in discussions 3 Join groups Link profile to your business web site 4 Link profile to your business web site Join groups 5 Engage in discussions Invite friends/colleagues/others to join your network

12. Under 50 vs. over 50 social media users Source: LederMark social media survey, March 2010. All users, N = 144 Key discovery: Generation gap in social media networking will impact sales practices in the years ahead. Under 50 Over 50 Are using social media 85% 50% Users of social media which presence led to doing business 41% 19% Agree that social media networking will be an important business development tool within five years 86% 53%

17. The insurance industry has eclipsed securities in adopting social media as a powerful prospecting tool.

19. (text) Social media networks