How Financial Advisors Can Improve Social Media Results

Last Edited by: Katie Pettit, Marketing Consultant, Marketing, LPL Financial

Last Updated: September 05, 2023

Social Media for Financial Advisors: How to Improve Your Results

The numbers speak for themselves. As of 2023, 94% of financial advisors—an 18-point increase over the past decade—are using social media for business.1 They’re finding it’s a cost-effective way to amplify their value proposition, generate new prospects, reinforce the strength of their brand, and unlock potential revenue growth.

Whether you’re an advisor who is new to social media or you’re a seasoned adopter looking to increase your engagement, following these tips can help you create a social media strategy that gets results.

Pick a Platform

With so many platforms to choose from, it can be difficult to know which one(s) to prioritize. As advisors in a highly regulated industry, it’s important to begin by reviewing your firm’s compliance policies for social media usage, as well as applicable FINRA notices.

To date, the following platforms have been approved for LPL Financial advisors:

  • LinkedIn company and group pages
  • Facebook company pages
  • X (formally known as Twitter) accounts
  • YouTube channels

Next, think about which segment of your target audience you want to reach and where they’re most likely to engage. For example, data from a January 2023 Hubspot social media survey conducted over Q4 of 20222 showed:

  • 91% of baby boomers, 88% of millennials, and 83% of Gen X-ers regularly visited Facebook and ranked it as their favorite and most visited social media app.
  • 83% of millennials, 81% of Gen Z, and 79% of Gen X-ers regularly visited YouTube, and baby boomers ranked it as their second favorite social media app behind Facebook.

Be Consistent

Although every social media algorithm is a little different, all platforms agree that consistent and frequent posting is an important factor for ranking in the feed. Content that gets more engagement and follows will then get more reach and impressions, which will lead to even more engagement and follows.

So what’s the optimal posting frequency? It depends on the platform. Social media specialists recommend: 3

  • Facebook: 1-2 posts per day
  • X: 3 posts per day spread across a variety of time zones
  • LinkedIn: 2-5 posts per week, no more than once per day

Consistent posting sounds great in theory, but how do advisors like you fit it into your already full schedules? The good news is there’s a broad spectrum of resources and social media content development specialists who can do the heavy lifting and keep you on track.

Engage with Your Audience

Posting high-quality content that addresses your audience’s financial needs and pain points is critical to building trust and engagement. Your audience is likely to disengage if your posts are too “salesy” or promotional.

They also want to know the “face” behind the brand. Social media is a great platform for telling your business’s unique story and for showcasing what matters most to you. Here are a few ideas to spark conversations and engagement:

  • Like and respond to comments
  • Create polls and quizzes
  • Acknowledge and answer questions promptly
  • Respond to comments with humor or warmth
  • Highlight your team’s interests, hobbies, and community involvement

Track and Analyze Metrics

Understanding your social media metrics4 helps you effectively analyze your strategy and adjust as necessary to optimize performance.

  • Web traffic: Are you gaining traffic to your website? Using a web traffic tool like Google Analytics measures how much of your web traffic is coming from organic social media.
  • Impressions: How many users were exposed to your content? This is especially valuable data for paid ads, as it can help you shape your budget for future ad spending. Even if paid ads aren’t part of your marketing plan, analyzing impressions can tell you how your general content is performing over time.
  • Lead generation: Are you gaining new prospects? Creating compelling content can generate and nurture new leads.
  • Likes/comments: How often is your audience liking or commenting on your posts? This is a great way to learn more about your audience and the type of topics or content that they’re most interested in.

Resources for LPL Financial Advisors

When it comes to creating and implementing an effective social media strategy, you don’t have to do it alone. LPL has a wealth of materials and tools to help our advisors begin or level-up their social media strategy:

  • Marketing on Demand – compliance-approved, customizable marketing materials for building brand awareness and effectively communicating with clients and prospects
  • Social media content powered by Gainfully – free library of articles and infographics to make content sharing easy
  • Resource Center – marketing tips and best practices

If you have questions or would like to schedule a one-on-one consultation, or if you’d like to subscribe and receive email alerts when new articles become available, contact LPL Marketing Consulting at (800) 877-7210, Option 9, Option 5, Option 1, or email Marketing Consulting.

If you’re interested in a digital marketing strategy that is executed on your behalf, please visit LPL Business Solutions Discover Marketing to complete the form, and a member of their team will be in touch with you directly.

For advisors not currently affiliated with LPL, we’d appreciate the opportunity to share more about how we can help you pursue your marketing goals. Contact Business Development for a confidential consultation.

author card for katie petit

Katie enjoys all things social media and you will often find her researching all of the latest and greatest trends. View full bio.

Disclosures and Sources

Consult your compliance department for information about the rules and use of social media and the review of all advisor marketing materials.

For Financial Professional Use Only

Tracking # 1-05378402


1 Putnam Investments, Putnam Social Advisors Survey, 2023

2 Hubspot, Which Social Media Channels and Gaining and Losing Steam?  January, 2023

3 Adobe Express, The Importance of Consistent Posting for Social Media Creators, February 2023

4 Hubspot, Which Social Media Metrics Are Marketers Tracking? March 2023