Jackpot! 3 extreme social media success stories

By Amy McIlwain

Financial Social Media Marketing

Who doesn’t love a good success story? Now that even more financial advisors are using social media, some of the resulting success stories are pretty impressive. Just like winning the lottery, your chances of gaining a $10 million account from one Facebook “like” are pretty slim, but it does happen.

1. One advisor landed a $70 million account.


What: A Morgan Stanley financial advisor sent one invitation to connect on LinkedIn and received a $70 million account in return.

How: This success wasn’t as random as it sounds. The New York City advisor for the firm’s small business segment had been diligently systemic on LinkedIn for some time. He had been actively participating in groups for small business CEOs by sharing content and joining discussions. This engagement helped establish himself as a credible expert in the small business field. When the Morgan Stanley advisor felt he had achieved a certain level of trust with an individual, he reached out for a more personal connection. The result of his efforts: a major multi-million dollar account.

The take-away: Integrate social media into your overall marketing strategy and train your employees. Morgan Stanley implemented a social media program just over a year ago to complement their digital marketing plan. To participate in the program, advisors are required to go through the training and use approved content. The training focuses on engagement and content, the two components that allowed this NYC advisor to enjoy his great success. You can read the full story here.

2. One advisor landed a $3 million account.


What: A prospective client began following David Armstrong’s Monument Wealth Management business page on Facebook. Eight months later, Armstrong won the client who turned into a $3 million dollar account.

How: The LPL advisor and Managing Director of Monument Wealth Management had been actively prospecting a small business owner as a potential client. Even though the individual was not yet ready to become a client, he did start following Armstrong’s firm on Facebook. Eight months later the prospective client contacted Armstrong saying, “I love what you have been writing for the last eight months. I am ready to move accounts with you.” Armstrong explained that Facebook provided him an easy medium to share relevant information with this potential client without hassling him.

The take-away: As Armstrong told Financial Planning, “It starts with how advisors are using [social media] to reinforce relationships with clients.” Providing concise, valuable content to your followers strengthens the bond you are creating with them. Clients, prospects and other professionals will begin to see you as human beyond your title and services. That kind of branding is priceless. You can read the full story here.

3. One advisor landed a $2.6 million account.


What: New Hampshire-based advisor Mark Scribner landed a $2.6 million 401(k) rollover account and a large insurance policy from a client’s boss by re-connecting on LinkedIn with an acquaintance he hadn’t spoken to in 15 years.

How: Scribner admits that he would have never thought to reach out to this acquaintance had he not seen him on LinkedIn. He was notified that this acquaintance looked at his LinkedIn profile, so Scribner responded with a phone call. Just a few days later, he had two new clients: the acquaintance and his boss. The fact that these two gentlemen weren’t strangers certainly made the client acquisition process much quicker, as the acquaintance already trusted Scribner.

The takeaway: Use your existing connections to build your network. Friends, old and new, provide a great pool of referral sources. Since they already know and trust you, their friends and family are much more likely to think of you first when they are in need of a financial service. Social sites are the perfect forum for these interactions. You can read the full story here.

While you can’t always expect this type of success using social media overnight, you can expect to increase your network, gain new clients and grow your brand’s awareness in due time. Do you have your own social media success stories? We would love to hear them.

See also:

Social media insights (based on real data!) for the financial professional, Pt. 1 | Pt. 2 | Pt. 3

20 more astonishing social media statistics for financial advisors

How can advisors gauge social media success?