Monday, August 03, 2009

Article - Doesn't Yet Measure Up For Advisers

Article - "NEW YORK (Dow Jones)--For building a financial adviser's business, Twitter might not be all it's tweeted up to be.

Droves of financial advisers who flocked to the micro-blogging site as a route to new clients haven't gotten the results they wanted. Others are confronting a host of compliance issues around what advisers can say in such a public arena.

'Twitter seems to be just a bunch of noise, and the type of clientele we want to attract - the typically older, high-net-worth investor - is not going to find me on Twitter,' said Fred Dent, a financial adviser at Raymond James Financial Services Inc. in Mclean, Va., who goes by @dentfred on Twitter.

Twitter may be useful if advisers lower their expectations and simply use it as a way to expand their overall network."

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