Troubled by Twitter? Flummoxed by Facebook? LIMRA and LOMA are offering help to financial services professionals by hosting a seminar on the various business opportunities and challenges that social media presents. It will take place on Aug. 26-27, 2010, in Windsor, Connecticut.
According to Socialware Research, more than 60% of financial advisors use social media for business purposes and, of those, nearly 50% have been able to identify new referrals that resulted from their social networking presence. The use of social media by financial professionals will continue to increase and is expected to grow to over 70% by the end of this year.
“Social media is possibly the most significant development in marketing and communication in our lifetime, but adoption does not come without risk and regulatory concern,” said Jim Kerley, president of LIMRA Services Inc., said in a statement “Financial services companies are struggling to determine how to best leverage the social media platforms with sales and distribution, as well as home office operations, while minimizing risk to their brand and adhering to industry regulatory requirements.”