n ” (Reuters)-financial adviser in the United States saw fewer benefits from the use of social media, a survey by Aite Group which showed on Tuesday.
From advisers to 437 surveyed, only 19 percent said social media was useful to reach out to new prospective clients-about half the sum of two years ago, when it was considered a leading benefits.
“Social Media has been over-hyped and benefits not only there are many advisors,” said a senior analyst with Aite Ron Shevlin said in an interview.
The most frequently cited destinations for using social media is to build brand awareness and differentiation. But the percentage of a social media Advisor credits with helping them differentiate their practice of competitors who fell to 9 percent this year, from 21 percent in 2009.