Self-managed super fund (SMSF) advisers should use social media to educate consumers and build brand awareness, communications experts have claimed.
Addressing the SMSF Professionals’ Association of Australia (SPAA) conference in Melbourne today, Carden Calder of BlueChip Communication and Aaron Dunn, prolific blogger and managing director of The SMSF Academy, said social media technology presents benefit opportunities to wealth management professionals.
“Social media has turned communications on its head,” Calder said. “The message is no longer only outbound.”
Recently released research shows that the majority of consumers hesitant to set up an SMSF cite “lack of knowledge” as the core reason for this, Dunn said.
Social media is a cost-effective solution to filling that education gap and providing consumers with more information about SMSFs, which ultimately could lead to business opportunities, he added.
Beyond education and dialogue development, social media also has potential marketing benefits, conference delegates heard.
“For advisers, who have traditionally operated with clients on a face-to-face, one-one-one basis, the benefit of social media is reaching a wider audience and developing your brand,” Calder said.
It can also be a useful tool in generating referrals, she said, as well as broadening an advice company’s appeal to a younger, more tech-savvy audience.
However, advisers were also warned that they be aware of the regulatory requirements when using social media, ensuring they provide general and educational advice, rather than using social media as a vehicle for personal advice services.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 22 Sep 2017ASIC permanently bans SMSF property spruikerBy Miranda Brownlee
- 22 Sep 2017Male SMSF investors ‘bigger risk takers’, says reportBy Staff Reporter
- 22 Sep 2017Lawyer flags subdivision trap with downsizer contributionsBy Miranda Brownlee
- 22 Sep 2017ATO urged to address ‘unknowns’ with LRBA reportingBy Miranda Brownlee
- 21 Sep 2017Lost and unclaimed super climbs to $18 billionBy Lara Bullock
- 21 Sep 2017ATO to release further guidance on reservesBy Miranda Brownlee
- view all
- Male SMSF investors ‘bigger risk takers’, says report
Male SMSF members tend to hold a greater share of assets in higher risk investments including domestic shares and property in comparison to ...read more
- Lawyer flags subdivision trap with downsizer contributions
SMSF trustees planning to make downsizer contributions have been warned that if a property has been subject to a partial sale in the 10 yea...read more
- ATO urged to address ‘unknowns’ with LRBA reporting
The ATO has been asked to provide further clarity around the events based reporting requirements for LRBA repayments, with the new requireme...read more
- view all