The global fintech company Broadridge has released
its annual survey, highlighting the adoption of artificial intelligence (AI)
among financial advisors in North America. Dubbed the Fifth Annual Broadridge Survey, the findings show that 56% of Canadian advisors use or plan to use generative AI in digital
marketing, while the figure stands at 43% for US advisors.
Additionally, the survey shows that financial advisors who communicate quarterly exhibit a
confidence level of 68%, surpassing their counterparts communicating annually
or less frequently at 51%. Personalized content marketing also emerged as a key
success factor, with 71% of those engaging in it expressing confidence in achieving their goals.
Next-generation technologies, particularly
generative AI, play a pivotal role in reshaping marketing efforts. Advisors
leveraging AI reported higher success rates in converting social media leads to
clients, spending more time on marketing, and generating more website leads.
With generative AI being a crucial tool, advisors
are exploring its potential for developing personalized content and
marketing campaigns, automating tasks, and segmenting clients.
While marketing challenges persist, the survey
revealed a decline in advisors with a defined marketing strategy. Only 20% of financial advisors in the US and 21% of Canadian financial advisors reported having a defined strategy. Financial advisors with a strategy demonstrated significantly higher confidence levels at 83% for advisors in the US and 89% for those in Canada.
Kevin Darlington, the General Manager and Head of
Broadridge Advisor Solutions, mentioned: “Many concerns and questions
remain around the technology, so advisors should understand the risks and
opportunities to leveraging generative AI in a digital marketing strategy to
remain compliant while attracting prospects.”
“Similarly, social media has become a popular
tool to attract the next generation of potential clients and should be
harnessed effectively for lead generation.”
Social Media
Social media also takes center stage, with 57% of
Canadian advisors investing or planning to invest, indicating a focus on
attracting younger clients. LinkedIn and Facebook emerged as the top platforms
for lead conversions.
Financial institutions now leverage social media platforms to offer access to services directly through users’
accounts. Major collaborations like Facebook’s integration with PayPal and
Twitter’s partnership with Square Cash highlight the growing trend of social
media becoming a conduit for financial transactions, Finance Magnates reported.
Additionally, financial services companies can
embrace decentralized technologies like blockchain to empower users with data
ownership while exploring incentive-based models to encourage data sharing.
The global fintech company Broadridge has released
its annual survey, highlighting the adoption of artificial intelligence (AI)
among financial advisors in North America. Dubbed the Fifth Annual Broadridge Survey, the findings show that 56% of Canadian advisors use or plan to use generative AI in digital
marketing, while the figure stands at 43% for US advisors.
Additionally, the survey shows that financial advisors who communicate quarterly exhibit a
confidence level of 68%, surpassing their counterparts communicating annually
or less frequently at 51%. Personalized content marketing also emerged as a key
success factor, with 71% of those engaging in it expressing confidence in achieving their goals.
Next-generation technologies, particularly
generative AI, play a pivotal role in reshaping marketing efforts. Advisors
leveraging AI reported higher success rates in converting social media leads to
clients, spending more time on marketing, and generating more website leads.
With generative AI being a crucial tool, advisors
are exploring its potential for developing personalized content and
marketing campaigns, automating tasks, and segmenting clients.
While marketing challenges persist, the survey
revealed a decline in advisors with a defined marketing strategy. Only 20% of financial advisors in the US and 21% of Canadian financial advisors reported having a defined strategy. Financial advisors with a strategy demonstrated significantly higher confidence levels at 83% for advisors in the US and 89% for those in Canada.
Kevin Darlington, the General Manager and Head of
Broadridge Advisor Solutions, mentioned: “Many concerns and questions
remain around the technology, so advisors should understand the risks and
opportunities to leveraging generative AI in a digital marketing strategy to
remain compliant while attracting prospects.”
“Similarly, social media has become a popular
tool to attract the next generation of potential clients and should be
harnessed effectively for lead generation.”
Social Media
Social media also takes center stage, with 57% of
Canadian advisors investing or planning to invest, indicating a focus on
attracting younger clients. LinkedIn and Facebook emerged as the top platforms
for lead conversions.
Financial institutions now leverage social media platforms to offer access to services directly through users’
accounts. Major collaborations like Facebook’s integration with PayPal and
Twitter’s partnership with Square Cash highlight the growing trend of social
media becoming a conduit for financial transactions, Finance Magnates reported.
Additionally, financial services companies can
embrace decentralized technologies like blockchain to empower users with data
ownership while exploring incentive-based models to encourage data sharing.
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