Socialware final
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Transcript of Socialware final
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The Digital Advisor – Social Business for FAsJaime Punishill
Global Head of WM Digital Distribution & Content Strategy
Socialware CMO Summit – 6/23/2011
@jpunishill
#fincmo
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Agenda
• This is not a fad
• Social brings digital to FA-client relationships
• Social is not a medium
• Control is an illusion
• Control is just the price of entry
• The three C’s of social
• Social is not any one thing
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Digital relationships are a reality• More than 90% of households with $1 million in investable assets are online
• 29% of that crew are interested in collaborating with their financial advisors online within a living financial plan
• 16% are interested in chatting with their advisors online
• 30% of online investors who have an advisor prefer email communications with their advisor
• Online affluent investors who rate their advisory firms website a 5 (excellent) on a 5 point scale are more than twice as likely to recommend that firm to a friend or colleague, more than 2x as likely to bring them additional assets, an half as likely to switch firms
• 56% of US online adults aged 55-64 maintain at least 1 profile on a social networking site
• 47% of US online adults aged 66+ maintain at least 1 profile on a social networking site
Source: Forrester Research
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5
Growth in social media in the US has been staggering over last 3ys
More Than Four In Five US Online
Adults Now Participate Socially
More Than Four In Five US Online
Adults Now Participate Socially
Source: Forrester Research
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As an industry we haven’t caught up to the times…
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How well does digital represent your firm/FAs?
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Social finally brings the FA into digital
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http://www.slideshare.net/padday/the-real-life-social-network-v2
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Social is a philosophy…not a medium
http://philosophy.uchicago.edu/courses/
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http://www.bankerspank.com/
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http://www.swamedia.com/releases/a714b09b-6c39-403a-4446-41004e021c55
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In command, not in control
http://t3.gstatic.com/images?q=tbn:ANd9GcT-Po6yUiC5Re9dF4E_dUsO8OVvN-Xu-dQjs-0UcNFm9gCWLo2QmA
http://www.charleneli.com/open-leadership/
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http://t3.gstatic.com/images?q=tbn:ANd9GcSW6BfgHBg8Pr39G-TPmSQ2gxbpOXJgEX3ZYTuiZ18N4d8Tee5WNg
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CHASE: This call will be monitored or recorded…ANN: “Yes it will.”
http://www.youtube.com/watch?v=_9mqj7jD0QE
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Define your sandbox, grow it over time
http://www.charleneli.com/open-leadership/
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http://www.bachelorvegas.com/nightclubs/jpegs/studio54/studio-54-night-club.jpg
http://piccsy.com/2011/04/studio-54/
Getting in isn’t your biggest challenge, it’s what to do once you get access
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The three C’s of social interaction
• Content
• Context
• Connection
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• I don’t care about you
• I don’t want to come to your castle
• I will collaborate and share what I have in common with others
http://www.slideshare.net/padday/the-real-life-social-network-v2
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http://www.slideshare.net/padday/the-real-life-social-network-v2
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Social is not any one thing…
http://www.slideshare.net/padday/the-real-life-social-network-v2
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Remember
• This is not a fad, this is the greatest thing to happen to this business in a long time
• Social is a way of being
• Be in command, because you cannot be in control
• Content, Context, Connection = Engagement
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THANK YOU!
Jaime Punishill
646-223-7959
@jpunishill
www.linkedin.com/jpunishill
www.slideshare.net/jpunishill