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Financial Planning > Behavioral Finance

How to: Get to know your LinkedIn network

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Do you truly know your LinkedIn network or are you like many other financial professionals who have just collected LinkedIn connections over the years?

Are you one of those users who just accepts any old connection request from LinkedIn members you don’t even know because you didn’t want to be seen as “rude”? Do you accept connection requests from fellow financial professionals?

If this sounds like you, ask yourself the following questions:

    • If I don’t know my LinkedIn connections or I haven’t spoken to them in six months or more, will those connections help me grow my practice?

    • Will that other financial professional I just connected with help me grow my practice?

The answer to questions above is a loud and clear “NO.” If you have not spoken to a connection in more than six months or you have never spoken to a connection, they won’t help you grow your business since you are not top-of-mind or they have no idea what you actually do.

As a financial professional, it is vitally important that you actually know your LinkedIn connections as they could become clients. Those connections could also become Centers of Influence (COIs) for you down the road.

Here’s a simple trick to get to “know” your LinkedIn network: Use your ABCs. There are 26 letters in the alphabet and 52 weeks in the year, so you can go through alphabet at least twice. Here’s how:

    • Step 1: Log into LinkedIn.

    • Step 2: Click on “connections.”

    • Step 3: Filter by “connections only.”

    • Step 4: Sort by last name.

Now that your connections are sorted by last name, start with the letter A and ask yourself: “Has it been six months to a year since I last spoke with this connection or have you never spoken to them?”

If you answer yes to either of those questions, send them a message asking them to get together for coffee or a quick phone call to catch up. Since you are already connected to them, it’s easy to reach out to them.

If you haven’t talked to someone within the last six months, year or you have never talked to them, you need to take the time to reconnect with those connections. If these connections don’t respond back to you or are not interested, you should remove them as a LinkedIn connection.

On the other hand, connecting with another financial professional is not going to benefit you even if they work at your company – they are your competition at the end of the day. Break up with those financial professionals you have connected with in the past, as they are not going to introduce you to anyone in their network and they are not going to become a client of yours.

Getting to “know” your connections and ensuring you’re not connected to your competition can pay off big time for you, so don’t miss an opportunity that’s right under your nose. 

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